Sensex falls over 250 points, Nifty down almost 1%; SBI down 4%

State Bank of India (SBI), Axis Bank, Bank of Baroda and BPCL were the top losers on both indices, while Bharti Airtel, Adani Ports, and GAIL gained the most.

Stake sale: Mafatlal Industries shares rallied more than 11 percent intraday on approval from board of directors for stake sale in Navin Fluorine.

“The board of directors, on June 23, approved the sell of 1,18,389 equity shares of Navin Fluorine at appropriate market price at BSE and/or NSE,” the company said in its filing.

At Friday’s closing price, the transaction is valued at more than Rs 35 crore.

Hence, the textile company said trading window for dealing in equity shares will remain closed for all directors and designated employees, with effect from June 24-28.

The deal is related to restructuring of shareholding in Navin and reclassification of that shareholding from promoters to public/non-promoter category.