Welspun Living, Texmaco Infra shares jump up to 6%, Meesho falls after block deals

Welspun Living Ltd (erstwhile Welspun India Ltd) and Texmaco Infrastructure & Holdings Ltd jumped up to 6 per cent, while Meesho Ltd declined marginally, as the stocks reacted to block deals earlier today.

Welspun Living saw 2,44,71,102 shares changing hands at Rs 214.90 apiece for Rs 525.88 on NSE, indicating a 2.98 per cent discount to its Tuesday's closing of Rs 221.51. This stock surged 5.18 per cent to hit a high of Rs 233 on NSE.

Texmaco Infrastructure, on the other hand, saw 1,28,10,900 shares changing hands in block at Rs 115.02 per share, the same as Tuesday's closing price, amounting to Rs 147.35 crore. This stock surged 6.21 per cent to hit a high of Rs 122.17 apiece.

Meesho saw 3,86,13,960 shares changing hands at Rs 233 on BSE, amounting to Rs 899.71 apiece. As per Blloomberg, the block deal accounted for 0.8 per cent of the total outstanding Meesho shares.

Following the development, Meesho shares fell 1.06 per cent to Rs 237.62 apiece.  UBS this week raised its medium-term growth estimates for Meesho, citing stronger expectations for both revenue expansion and margin improvement. While its FY27 estimates remain broadly unchanged, it has increased its FY29-FY31 net merchandise value (NMV) forecasts by 7-18 per cent. UBS made a similar upward revision to its contribution profit estimates, while its Ebitda projections for FY29-FY31 have been raised by 20-40 per cent. It suggested a  The fresh target price of Rs 260 on Meesho against the previous target of Rs 210.