Avalon Technologies Falls 4% After Block Deal; Power Mech, KSB Rise on Fresh Orders

Several stocks saw sharp moves in Wednesday’s trade as fresh orders, corporate announcements and a large block deal kept investors busy. Avalon Technologies slipped 4%, while Power Mech Projects and KSB gained after announcing new business wins.

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Avalon Technologies came under pressure after a sizeable transaction took place through the block deal window. Around 1.17 crore shares, representing 17.2% of the company’s equity, changed hands at an average price of ₹863 apiece. The transaction was valued at roughly ₹1,012 crore. 

The stock fell as much as 4% following the deal. 

Power Mech Projects moved in the opposite direction, climbing 8% after receiving an order worth ₹251.24 crore from Bharat Heavy Electricals Limited. 

The contract covers civil, structural and architectural work for the main plant area of the 2x800 MW Singrauli Stage-III Super Thermal Power Project. The work is to be completed within 32 months. 

KSB shares also gained 4% after the company received an order worth ₹670 crore from Nuclear Power Corporation of India Limited. 

This order is for the primary coolant pumps and electric motors, including spare parts, for units 5 and 6 of the Kaiga power plant, and supply will be made between 2028 and 2031. 

G R Infraprojects is another stock that saw buying interest following news that it has emerged as the lowest bidder for an Indian National Highways Authority project worth ₹2,313 crore for the construction of a four-lane greenfield highway in the state of Maharashtra, which will be completed in 910 days. 

Jupiter Wagons gained around 3% as its subsidiary, Jupiter Electric Mobility, obtained certification of its JEM TEZ electric light commercial vehicle. The certification clears the vehicle for commercial sale and registration across India. 

Meanwhile, Hitachi Energy India gained around 3% after securing an order from Power Grid Corporation of India for a transmission project linking Gujarat and Maharashtra. 

The morning session also saw movement in Astra Microwave Products, which rose around 3% after securing orders worth ₹384 crore. The orders cover the supply of radar sub-systems, electronic warfare sub-systems and other products, with execution expected over a period of 12 to 48 months. 

The varied moves across these stocks came as company-specific developments, rather than a single market-wide trigger, shaped early trading on Wednesday.