Avenue Supermarts, Tech Mahindra gain after block deals

Shares of Avenue Supermarts, which owns and operates D-Mart retail chain, and IT consulting & software company Tech Mahindra have moved higher by upto 6% on the bourses after the huge block deals executed on these counters.

Tech Mahindra was up 5% at Rs 497, bouncing back 6% from early morning low on the National Stock Exchange (NSE). Till 01:51 PM; around 6.35 million equity shares representing 0.65% stake in the company changed hands on the NSE, the exchange data shows.

Avenue Supermarts too moved higher by 5% to Rs 1,176 on the BSE in intra-day trade, after more than two million shares changed hands through block deals. Around 2.2 million shares or 0.35% of total equity of the company changed hands so far, the BSE data shows.

The name of the buyers and sellers were not ascertained immediately.