Meesho shares drop 4% after block deal worth Rs 900 crore. Should you buy the dip?
Meesho shares fell nearly 4% on Wednesday, giving up part of Tuesday’s sharp gains. The decline came as a large block deal worth around Rs 900 crore was reported on the BSE.
As many as 3.86 crore Meesho shares changed hands in a block deal at Rs 233 apiece, taking the total value of the transaction to Rs 899.71 crore, ET Now reported.
Meesho shares dropped to an intraday low of Rs 230.94 apiece on the NSE in morning trade, a day after surging nearly 10% after brokerage firm UBS raised its target price on the stock by 24% to Rs 260.
