Shares of Mankind Pharma Ltd. dropped nearly 5%, the most since Sept. 1 to the lowest in over a month after four large trades on Tuesday.
As many as 3.05 crore shares or 7.6% changed hands in four large trades at a range of Rs 1,832–1,841.50 apiece, according to Bloomberg data. The buyers and sellers were not known immediately.
Mankind Pharma's stock fell as much as 4.83% during the day on the NSE, to Rs 1,827.50 apiece, the lowest since Sept.1, when it fell over 6%. The stock was trading 3.75% lower at Rs 1,848 apiece compared to a 0.11% advance in the benchmark Nifty 50 at 9:45 a.m.
The total traded volume so far in the day stood at 2,070 times its 30-day average.
Seven out of the 13 analysts tracking Mankind Pharma have a 'buy' rating on the stock, four recommend 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 6.5%.
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