Dabur India stock falls 3% after promoters sell stake
Published On: Tuesday, December 20, 2022 | By: Team KnowMyStock
Shares of Dabur India dropped 3 percent to Rs 570.80 on the BSE in Tuesday's intra-day trade after promoters of the FMCG firm sold their stake in block deals today. As per reports, 1.9 crore shares changed hands at an average price of ₹571 apiece, aggregating to ₹1,089 crores. Earlier, reports said the company's promoters were looking to sell shares worth ₹800 crores via a block deal. As of September-end, the Burman family together held a 67.24% stake in Dabur NSE -1.62 % India. The public shareholders held the remaining 32.76 percent of the shares. The stock began the trading session at ₹576.10 apiece compared to the previous closing price of ₹589.05 and dipped further to hit an intraday low of ₹569.55, 3.31 percent lower. The share hit a 52-week high of Rs 610 on December 7, 2022, and a 52-week low of Rs 482.20 on June 17, 2022.
The Burman family, who are promoters of the company, hold the controlling stake.
In the September quarter, Dabur India reported a net profit of Rs 490.86 crore, 2.85 percent lower against the year-ago period. Revenue, however, surged 6 percent year-on-year in Q2FY23 to Rs 2,986.49 crore.
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