ZF Commercial Vehicle Control Systems India drops on block deals

ZF Commercial Vehicle Control Systems India

19/06/2024 05:11

** Shares of auto parts maker ZF Commercial Vehicle Control
Systems India Ltd  ZFCV.NS  down 4.3% to 16,537.75 rupees
    ** More than 1.4 mln shares traded in 5 separate block
deals, all at a discount to previous close but above reported
floor price for block sale - National Stock Exchange of India
data
    ** ZFCV's top shareholder, Wabco Asia, to sell 5% stake via
block deals, per local media reports
    ** Wabco to sell ZFCV shares at floor price of 14,980
rupees, a 13.3% discount to previous close - reports
    ** Overall, 1.5 mln shares traded in stock's busiest day on
record vs 30-day avg volume of ~18,000 shares
    ** ZFCV stock fell as much as 11% earlier in the session
    ** Stock trims YTD gains to 3.3%


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))