BC Investments IV Ltd. sold 45 lakh shares worth Rs 562.7 crore in Emcure Pharmaceuticals Ltd. through a block deal on Friday, according to the bulk deal data on the NSE.
The public shareholder sold the 2.37% stake for Rs 1,250.44 apiece. Kotak Securities was the book runners for the deal.
Shares of Emcure closed 2.15% lower at Rs 1,252.30 apiece on the National Stock Exchange, compared with a 0.22% decline in the benchmark Nifty. The stock has risen 24.24% in the last 12 months and fallen 13.46% on a year-to-date basis.
Out of the three analysts tracking the company, two maintain a 'buy' rating on the stock and one recommends a 'hold', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 16.5%.
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