Laurus Labs under pressure, plunges 10% after multiple block deals

Till 12:44 pm, a combined 34.4 million equity shares, representing 32.2 per cent of total equity of Laurus Labs, changed hands on the BSE and NSE.

Shares of Laurus Labs slipped 10 per cent to Rs 440 on the BSE in the noon deals on Friday after a more than 30 million equity shares of the pharmaceutical company changed hands via multiple block deals.

At 12:44 pm, the stock was trading 8 per cent lower at Rs 449 on the BSE, as compared to a 1.5 per cent rise in the S&P BSE Sensex. A combined 34.4 million equity shares, representing 32.2 per cent of total equity of Laurus Labs, changed hands on the BSE and NSE.

On BSE, around 19.1 million shares were traded,