Avalon Technologies falls 5% on Rs 883 crore block deal

Avalon Technologies Limited (NSE: AVALON) shares fell as much as 5.2% on September 30, 2026, after a Rs 883 crore block deal in the stock during the morning trading window. What happened: About 40.5 lakh shares, equal to 6.06% of the company's equity, changed hands at an average price of around Rs 2,181, about 5.3% below the previous close of Rs 2,302. Media reports linked the sellers to the promoter group, Bhaskar Srinivasan, BBS Family Trust and KBS Family Trust, though the exchange trade data itself did not confirm buyer or seller identity. The company clarified that KBS Family Trust is indeed part of its promoter group. Any sellers in this deal are subject to a 180-day lock-up on further sales. Price action: The stock touched an intraday low of Rs 2,171 to 2,180 on September 30, before paring some losses. It was trading around Rs 2,280 as of October 1. The stock hit a 52-week high of Rs 2,618 on September 18, 2026, and its 52-week low stands at Rs 777.30 from January 29, 2026, so this remains one of the sharpest movers of the year. Market cap stood near Rs 15,250 crore. Technical picture: After an over 200% rally from its 52-week low, Rs 2,170 to 2,180, this week's block deal zone, is now the first support to track. A deeper pullback would bring Rs 2,000 into focus. On the upside, Rs 2,300, the pre-deal closing level, is the immediate hurdle to reclaim. What to watch next: Whether promoter or other large shareholders disclose this stake sale formally in exchange filings, and whether the stock can hold the Rs 2,170 to 2,180 zone. Disclosure: Palash Kag, Proprietor, Sarathi Research, SEBI Reg. No. INH000012740. No position held in Avalon Technologies Limited as on date. Views are educational and informational only, not financial advice or a recommendation to buy, sell or hold any security.