SAMIL, BHEL, YES Bank, JM Financial, GTL Infra, Suzlon shares tank up to 19% amid high NSE volumes

Shares of Samvardhana Motherson International Ltd (SAMIL), YES Bank Ltd, BHEL, Suzlon Energy Ltd, GTL Infra and JM Financial Ltd, among others, tanked up to 19 per cent amid high volumes on Wednesday. While the largecap benchmark Nifty and Sensex recoupled intraday losses, midcap and smallcap indices were trading up to 2 per cent lower in trade, reflecting fall in risk appetite among investors amid valuation concerns.

SAMIL shares fell 5.3 per cent to Rs 118.80, as 41,21,30,221 shares worth Rs 4,995.43 crore changed hands, topping NSE volume chart. Media reports suggest a block deal on the counter involving 32.2 crore shares took place on the counter, valuing Rs 3,931 crore or 4.7 percent stake in the automobile component maker. Promoter entity Sumitomo Wiring is believed to be the likely seller, though Business Today cannot independently verify the reports.

It was followed by Vodafone Idea Ltd, which saw 12,55,36,313 shares worth Rs 177 crore changing hands. This stock fell 2.09 per cent to Rs 14.05. YES Bank shares declined 2.86 per cent to Rs 23.80 on NSE, as 12,12,58,032 shares worth Rs 291 crore changed hands. NHPC slipped 1.08 per cent to Rs 91.45, as 6,77,22,742 NHPC shares worth Rs 631 crore changed hands.

Zomato shares were down 4.37 per cent at Rs 158.60. A total of 5,79,48,335 Zomato shares worth Rs 932 crore changed hands. As per a media report, shareholder Antfin Singapore Holdings Pte was looking to offload up to 2 per cent stake or 17.64 crore shares in Zomato for Rs 2,800 crore through a block deal. Business Today could not verify the report independently.

GTL Infra Ltd recoded volume of 5,51,13,006 shares. This penny stock tanked 5.94 per cent to Rs 1.80. JM Financial nosedived 19.29 per cent to Rs 77.10. It saw 3,38,56,706 shares changing hands worth Rs 274 crore. The stock fell as ET in a report suggested the market regulator Sebi will soon come out with an order on the NBFC for its alleged role in inflating IPO subscription numbers. The report came a day after the Reserve Bank of India (RBI) banned JM Financial Products from offering fresh loans against IPOs.

BHEL, which has received Rs 9,500 crore order from NTPC, fell 4.44 per cent to Rs 254, as 3,24,57,409 BHEL shares worth Rs 852 crore changed hands.

BCG, Punjab National Bank (PNB), Jio Financial Services Ltd and SAIL were some other stocks on NSE that saw prise in both share price and volumes.