Manappuram Finance plunges on huge block deals

Manappuram Finance has plunged 10% to Rs 40 in early morning trades on back of huge volumes on the bourses. More than four million shares have changed hands in multiple block deals on the counter, the market report suggests.

As many as a combined 59.63 million shares representing 7% of the total equity of the company have changed hands on the counter so far, against an average 2.5 million shares that were traded daily in pas two weeks on the NSE and BSE.