Sobha share price falls 11% to Rs 500 after block deals

Around 4.14 million shares representing 4.4 per cent of total equity of Sobha changed hands on the BSE at 09:16 am.

Sobha stocks dipped 11 per cent to Rs 500 on BSE on Friday after more than four per cent total equity of the real estate developer changed hands via block deals in early morning trade.

At 09:16 am, around 4.14 million shares, representing 4.4 per cent of Sobha's total equity, changed hands on the BSE. The name of the buyers and sellers were not ascertained immediately.

As per March 2019 shareholding pattern, mutual funds held 12.97 per cent stake in Sobha. Franklin Templeton Mutual Fund A/C Franklin India Focused Equity Fund held 7.46 per cent stake, while L&T