M&M shares fall 4% as promoter likely sells stake via block deal
Shares of M&M fell 4.25% as promoters sold partial stake in an equity block deal. PMSL, a promoter group entity, sold 0.75% of the company's stake, reducing promoter group's holding to 18.57%, according to reports. M&M's net profit in the December quarter jumped 61% YoY to Rs 2,454 crore. Shares have rallied about 49% in the last one year.
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