Aditya Birla Fashion Shares Plunge 10% on Flipkart Stake Sale

  Published 1 year ago

Aditya Birla Fashion and Retail (ADIA.NS) shares plunged 10% to ₹77.4, their lowest since April 2024, marking the steepest intraday drop since March 2020. The fall follows Walmart-backed Flipkart's block deal offloading its entire 6% stake, valued at around ₹6 billion.

  • Flipkart sells entire 6% stake via block deal.
  • Deal priced 7% below previous close.
  • ADIA stock is down 23.5% year-to-date.
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