Lenskart shares tumble after large block trade of 3.9 crore units

Lenskart's shares came under pressure on Tuesday after a substantial block deal saw 391.8 lakh shares change hands during the trading session. The stock hit an intraday low of Rs 683 per share before buyers stepped in to arrest the decline.

By late morning trading around 11:13 a.m., the shares had recovered some ground from their session lows but still remained under pressure. The stock was trading 2.5% lower at Rs 688.8 per share, indicating a partial recovery from the earlier weakness triggered by the large block transaction.

Block deals, which typically involve significant share quantities being traded between institutional or high-net-worth investors, often create short-term volatility in stocks. Market participants closely monitor such large transactions as they can signal shifts in investor sentiment or strategic moves by major stakeholders.

The eyewear retailer's stock has been subject to various trading dynamics since its public listing. Investors continue to watch for further developments in the company's business operations and market positioning in India's growing optical retail sector.