Block Deal: A big deal will happen as soon as the market opens on Friday - promoter is preparing to sell stake

News Topical, Digital Desk : A big block deal can be seen in the stock market on Friday. According to information received from sources, the Bhartiya family can sell shares in Jubilant Foodwork, Jubilant Ingrevia and Jubilant Pharmova through a block deal. According to information received from sources, a block deal of 1.32 crore shares can be done in Jubilant Foodwork. The promoter sells about 2 percent stake in the company. Sources say that the floor price for this deal can be fixed at Rs 641 per share. Jubilant Foodworks operates popular QSR chains like Domino's Pizza and Dunkin in India.

Sources have informed that there could be a block deal of 1.2 crore shares in Jubilant Ingrevia and a block deal of 56 lakh shares in Jubilant Pharmova. Morgan Stanley will be the broker in this deal. In the quarter ended March, the company's profit has increased by 93 percent year-on-year to Rs 49.5 crore. In the same quarter of the previous financial year, Jubilant Foodworks Limited had recorded a profit of 25.6 crores. Share performance Shares of Jubilant Foodwork closed 2.71 percent down at Rs 667 on Thursday. In the last one year, the company's stock has seen a decline of 4.18 percent. The 52-week high of the stock is Rs 796.75. 

Read More: Gold's luster has diminished, but silver continues its run; how far has the price reached last week?