Meesho shares drop 4% after block deal worth Rs 900 crore. Should you buy the dip?
BSE moved higher in an order wins & contracts development.
· Economic Times Markets, ET Stocks
Meesho shares witnessed a dip on Wednesday after 3.86 crore shares changed hands in a block deal worth Rs 899.71 crore on the BSE. The transaction came a day after the stock surged nearly 10% following UBS’ 24% target price hike.
The analysis
BSE reported Rs 900 crore, with movement of 4%, 10% and 24% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
This is a Promoter stake / pledge event. Promoters transact with better information than the market. Direction against the price trend is the signal — accumulation into weakness reads differently from a sale into strength.
Why it matters
- A large order lengthens revenue visibility, which is what the market pays a premium for in capital-goods and infra names.
- Sustained FII or DII direction moves the whole market, not just the names being bought — it sets the tape's tone.
- With BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
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