Eureka Forbes stock closes 4% higher amid block deal buzz

Shares of Eureka Forbes Ltd ended nearly 4% higher amid a report which said India Discovery Fund is likely to sell its stake in the household appliance firm via a block deal. India Discovery Fund owned 7.42% or 1.43 crore shares in Eureka Forbes at the end of December 2023 quarter. The deal size is likely to be Rs 700 crore to Rs 750 crore, according to a ET Now report. IIFL is likely to be the banker to the deal.

Eureka Forbes shares ended 4.68% higher at Rs 516 on BSE today. Market cap of the firm rose to Rs 9,978.98 crore. Total 4.86 lakh shares of the firm changed hands amounting to a turnover of Rs 24.47 crore on BSE. The stock hit a 52 week high of Rs  598.75 on June 21, 2023 and a 52 week low of Rs 355 on May 24, 2023.  

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