Sarla Performance Spikes Post Block Deal

Sarla Performance Fibers, India-based yarn manufacturer during Thursday’s trading session rallied over 6% intraday as 27.5 lakh shares traded in a block on NSE at Rs 49.90 per share.

The stock soon after the block deal reacted positively to reach at Rs 57.90 per share at around 1000 hours. The stock had hit its 52-week high of Rs 80 per share on 1 November 2016 and its 52-week low of Rs 48 per share on 28 June 2017.

Sarla Performance Fibers is an exporter of regular, as well as high tenacity polyester and nylon yarns. The company has manufacturing plants at Silvassa in the Union territory of Dadra and Nagar Haveli and a dyeing plant at Vapi in the state of Gujarat.

Block deal is a trade, with a minimum quantity of 5 lakh shares or minimum value of Rs 5 crore, executed through a single transaction, on the special “Block Deal window”. The window is opened for only 35 minutes in the morning trading hours.

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About Suhani Varma

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