Apollo Hospitals Enterprise has tanked 11% to Rs 775 on the back of heavy volumes in opening trades on reports that CLSA plans to offload its stake in the company for $135 million (approx. Rs 750 crore). "CLSA is selling its 6.15% stake in a range of Rs 824 to Rs 876 a share," reports suggest.
The stock opened at Rs 864 and has seen a combined 9.32 million shares representing 10.84% of total free-float of equity of the company changing hands on the counter against an average around 300,000 shares that were traded daily in past two weeks on the BSE and NSE.
CLSA, which is the fourth-biggest shareholder of the Indian hospitals and pharmacy chain, held 6.15% stake or 8.55 million shares as on September 30, 2012, the BSE data shows.
