Meesho shares declined 1.66% to ₹202.28 following a significant block deal transaction on August 24. According to The Hindu BusinessLine, the stock witnessed a large trade of 4.72 crore shares (1% equity) worth ₹945 crore at ₹200.01 per share in the block deal window. The stock opened at ₹207.24, touched an intraday high of ₹212.65 and a low of ₹201.56, with traded volume at 109.38 lakh shares and a traded value of ₹224.90 crore. Sell orders dominated, accounting for nearly 66% of total quantity in the order book, creating immediate selling pressure on the stock.
Vishal Mega Mart Company shares surged 9% after the company announced key leadership appointments. As reported by Moneycontrol, Gunender Kapur has been appointed as the Managing Director & Chief Executive Officer for a three-year period with effect from June 27, 2024. His existing term of three years is due to expire on June 26, 2027, providing continuity in the company's leadership structure.
Jubilant Pharmova shares rose 1% following regulatory approval news. According to Moneycontrol, the USFDA has given approval for commercial batch manufacturing of the first product on Line 3 of Jubilant HollisterStier LLC contract manufacturing facility located in Spokane, U.S.A. This development relates to the company's subsidiary structure, with Jubilant HollisterStier LLC being a subsidiary of Jubilant Pharma Holding Inc., which is in turn a subsidiary of Jubilant Pharma Limited, Singapore, a wholly owned subsidiary of the company.
Apollo Tyres shares gained 2% after receiving a positive analyst upgrade. As reported by Moneycontrol, research house UBS upgraded the stock to 'buy' with a target price of ₹590, citing valuation at a discount to peers after the stock underperformed the sector for four years. The brokerage noted that while Q2FY27 is likely to remain pressured due to natural rubber prices rising 22% QoQ in Q1FY27, earnings recovery is expected thereafter, with FY28 EBITDA projected to grow 21% YoY.
Market buzz points to Y Combinator as the likely seller in the block deal, with reports citing sources mentioning that the US-based accelerator was looking to offload up to 1.05% stake for ₹957.5 crore, with a floor price of ₹197.5 per share. Sources had also indicated a 30-day lock-in on any further stake sale by Y Combinator. Despite Monday's weakness, Meesho shares have gained 9.25% over the past month and 11.46% year-to-date, outperforming the Nifty 500 significantly. The stock listed on December 10, 2025, and hit a 52-week high of ₹254.40 in December before correcting to a low of ₹125.56 in March 2026, with the company's total market capitalisation standing at ₹93,502 crore.
