Shares of Inox Wind plummeted 7% on 31 October after a large trade that involved 10% equity of the company changed hands on the exchanges.

On 31 October, around 3.2 crore shares or 10% of the total equity of the company, changed hands on the exchanges for an average price of Rs 210 per share, which is a 6% discount to the closing price of 30 October of Rs 223.65.

The total value of the deal was around Rs 672 crore, and the buyer and the seller involved in this transaction are yet to be identified.

The block deal led to a spike in volumes as 5 crore shares of the company changed hands on the bourses so far, which is significantly higher than the company’s one-month daily trade average of 18 lakh shares.

The shares of the company were previously involved in a bulk deal in early August when the company’s promoters, Inox Wind Energy, offloaded 1.46 crore shares, and Devansh Trademat LLP offloaded 93.48 lakh shares.

At 1:04 pm, the shares of Inox Wind were trading 3.96% below at Rs 214.80 on NSE.