VMM

shares sink 8% as promoter moves to offload 6.5% stake

Vishal Mega Mart shares tumbled over 8 per cent on Friday after a large block deal hit the counter, with exiting promoter entity Samayat Services, backed by Kedaara Capital, moving to sell up to a 6.5 per cent stake in the retail chain. Vishal Mega Mart Vishal Mega Mart share price delcined 8.2 per cent on Friday to trade lower at Rs 117 apiece at intraday. As of 12:48 PM the stock had recovered some losses but continued to trade 6.88 per cent lower at Rs 118 apiece. Over multiple time frames, Vishal Mega Mart's stock has delivered a mixed performance when compared with the Nifty 200 index. Over the past week, the stock gained 1.71 per cent, while the Nifty 200 slipped 0.67 per cent. However, the one‑month return turned negative at 4.90 per cent, against a 1.59 per cent rise in the benchmark.