Mankind Pharma Stock Tumbles Nearly 5% After Four Large Trades
The 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%.
![<div class="paragraphs"><p>Mankind Pharma's manufacturing facility in Himachal Pradesh (Source: company website)</p></div>](https://media.assettype.com/bloombergquint%2F2023-12%2Fbb4a8082-63c4-4194-b32b-fd696b634179%2FMankind_Pharma_s_manufacturing_facility_in_Himachal_Pradesh___Source_Company_website_.png?rect=0%2C0%2C859%2C483&auto=format%2Ccompress&w=200)
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 Stock Tumbles Nearly 5% After Four Large Trades](https://media.assettype.com/bloombergquint%2F2023-12%2Fda23c4c2-db9f-48bd-a278-d0153fa7eaf6%2FMANKIND.png?auto=format%2Ccompress)
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%.