Go Fashion shares plunge 5% on likely stake sale by Sequoia Capital

Go Fashion’s shares dropped over 5% on the NSE after Sequoia Capital attempted to sell 11% of their stakes in the company through a block deal, with nearly 57.5 lakh shares sold at an intraday low of Rs 1,135. The midcap stock, which had a market cap of Rs 6,130 crore, gradually declined from the 52-week high it reached in November 2022. As per Trendlyne data, both its relative strength index (RSI) and money flow index (MFI) stayed in the overbought area, and the beta during the period of the high volatility in the last month was 1.39.