Avalon Tech Falls as Power Mech, KSB Gain on Orders

Technologies shares came under pressure after its promoters were reported to be looking to sell up to a 6% stake through block deals, with the proposed transaction valued at around ₹861.9 crore. Meanwhile, Power Mech Projects and KSB remained in focus after securing new orders worth ₹549.37 crore and up to ₹118 crore, respectively. The proposed Avalon transaction involves promoter groups Bhaskar Srinivasan, BBS Family Trust and KBS Family Trust. The indicative price range for the block deal is ₹2,150–₹2,302 per share, according to reports cited by Moneycontrol. The potential stake sale comes after a strong run in Avalon shares, with the stock having gained significantly over the past six months. Power Mech Projects has secured a ₹549.37-crore order to provide complete operation and maintenance services at Adani Group’s 2x600 MW Moxie Power Generation Tuticorin thermal power plant. KSB, meanwhile, received an export order worth up to ₹118 crore from Dangote Projects Free Zone Enterprise for supplying a boiler feed pump package for the international fertiliser and energy sectors.