UltraTech Cement shares drop over 2% after large block trade

$ULTRACEMCO nt stock declined more than 2% on Thursday after a significant block deal involving 25 lakh shares, representing about 0.8% of the company’s equity. The transaction, valued at roughly ₹2,900 crore, took place before market opening. The move follows a report that promoter-group firm Pilani Investment and Industries Corp planned to sell around 0.6% stake (about 17 lakh shares) at a floor price of ₹11,581, a 2.6% discount to the previous close. The actual volume traded exceeded the reported figure. Buyers and the final price were not immediately ***** last check, UltraTech shares traded near ₹11,627, down over 2%. Pilani Investment held a 1.5% stake as of June, while promoter entities controlled about 59%. The stock was among the top Nifty 50 losers amid broader market weakness.