Shares of Emami Limited plunged about 5pc on Monday mid-morning on the NSE. This is after the promoters reportedly sold stake through block-deals. At intraday, the stock touched its new-52-Low level at Rs271.10-per share, down near 6pc.
In a massive block deal, the promoters have sold 8.3ps equity. On last Wednesday, 19th June, the promoters’ pledged 0.05pc equity, and later on 22nd June, it sold 0.2pc equity. Since March this year, the promoters’ have reportedly pledged 47.68pc of their stake.
At 11:15am, the stock was trading lower 4.46pc to Rs276.40per share on the NSE. In comparison, the benchmark Nifty stood at 11,705-level down 18.35pc, while Sensex down 51pts at 39.142-level.