Balrampur Chini shares trade lower post block deal

Shares of Balrampur Chini were trading lower in Tuesday's trade after after Morgan Stanley sold 14.8 lakh shares via block deal.

The scrip was trading 2 per cent down at Rs 77.60 at around 11.50 am (IST), while the BSE Sensex was down 122 points, or 0.32 per cent, at 37,799 at around the same time.

Morgan Stanley France SAS sold 14.80 lakh shares in the company at Rs 78.32 per share, according to market reports.


For the quarter ended June 2018, the company posted a net profit of Rs 73.60 crore, down 38.67 per cent, against Rs 120 crore in the corresponding quarter last year.

Total expenditure of the company decreased to Rs 912.98 crore in Q1FY19 over Rs 979.92 crore in Q1FY18.