Torrent Pharma's shares experienced a 4% decline on October 30 due to a significant block deal worth Rs 3,238.90 crore. It is believed that Torrent Investments, the promoter, sold a portion of its stake.

The stock was trading at Rs 3,113.25 on the National Stock Exchange (NSE) as of 09:33 AM. The block deal involved the transfer of approximately 1.04 crore shares, which represents a 3.1% stake in the company. These shares were sold at an average price of Rs 3,108 per share, reflecting a discount of over 3% from the previous closing price. This transaction resulted in a notable increase in trading volumes, surpassing the one-month daily average of four lakh shares.

The decline in Torrent Pharma's shares was attributed to the significant block deal. The sale of a portion of the promoter's stake caused a decline of 4% in the stock price. The block deal involved the transfer of approximately 1.04 crore shares, representing a 3.1% stake in the company. These shares were sold at an average price of Rs 3,108 per share, reflecting a discount of over 3% from the previous closing price. As a result of this transaction, trading volumes increased significantly, surpassing the one-month daily average of four lakh shares.