Privi Speciality Chemicals Shares Plunge 11% After ₹1086 Cr Block Deal

• Privi Speciality Chemicals shares dropped 11.6% to ₹2804.15 on December 31, after an initial 13% fall on BSE.
• The decline was due to a large transaction involving the sale of 38.8 lakh shares, 9.93% of equity, valued at ₹1086 crore.
• CNBC-TV18 reported a promoter entity was expected to sell up to a 6.3% stake worth ₹700 crore via a block deal.
• As of September quarter, promoters held 69.89% stake; mutual funds 3.91%, with SBI MF holding 3.64%.
• Despite the fall, the stock has risen 60% in one year, and Motilal Oswal had given a 'Buy' rating with a ₹3960 target.

Why It Matters: Large block deal selling caused Privi Speciality Chemicals shares to drop over 11%.