Campus Activewear stock soars over 12.5% after block deal worth ₹100 crore
Campus Activewear, a prominent sports and athleisure footwear company in India, saw its shares jump 12.6% in today's intraday trade, reaching ₹275.80 apiece. This uptick in shares came after 40,65,000 shares of the company changed hands in a block deal window on Wednesday with an average price of ₹245 apiece. The buyers and sellers, however, were not known immediately.
The total value of this transaction was ₹99.59 crore, as per the NSE data. The company, known for its trendy and stylish athletic footwear, has been grappling with challenges including weak demand, rising competition, and poor financial performance, which have exerted downward pressure on its shares. Also Read: Vibhor Steel stock becomes first mainboard IPO of 2024 to list above 190% premium Since November 2022, the company shares have been on a downward spiral, closing each passing month in red.
In the current month so far, they are down by 5.37%. The company made its stock market debut on May 09, 2022, after raising ₹1,400 crore through its initial public offering (IPO). Taking the current trading price of ₹261 apiece, the stock is trading with a 10.61% discount to its issue price of ₹292 apiece.
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