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Go Fashion Shares Drop 5.1% As 11% Stake Changes Hands
The Chennai-based company has become the worst performer on the Nifty 500 index after the decline extended into its second day.
12 Jun 2023, 10:57 AM IST 
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(Photo: Markus Winkler/ pxhere.com)
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Shares of Go Fashion (India) Ltd. dropped as much as 5.13%, the most since Feb. 27, after 5.75 million shares worth 11% of its equity changed hands in a large trade early on Monday.
Shares of Go Fashion Ltd. fell as much as 5.13% before erasing some losses to trade 4.10 lower at 10 a.m., compared to a 0.12% gain in the benchmark NSE Nifty 50. The total traded volume so far in the day stood at 1,900 times its 30-day average.
The Chennai-based company was the worst performer among Nifty 500 peers at the time.
All seven analysts tracking the company maintain a 'buy', according to Bloomberg data. The average of 12-month price targets suggests an upside of 16.6%.
