Shares of Mankind Pharma Ltd hit a 52-week high of Rs 2,297.40 on 8 February after 65 lakh company shares changed hands in a block deal.

Around 65 lakh shares represent 1.6% equity of the company changed hands in a block deal for a total deal value of Rs 1,368 crore.

The company had informed bourses that its promoter entity was looking towards offloading a 1.6% stake in the company through block deals to meet the minimum public shareholding norms.

The promoters of the company include Puja Juneja, Arjun Juneja, and Sheetal Arora, who are looking to sell their shareholdings.

Arjun Juneja has proposed to sell 24.01 lakh shares or 0.6% from 2.64% held, Sheetal Arora is looking to divest 18.17 lakh shares representing 0.45% equity stake from 5.27% stake held in the company, and Puja Juneja is looking for divesting 22.7 lakh shares or 0.57% stake of her shareholding of 3.45% total stake.

At 1:10 pm, the shares of Mankind Pharma were trading 7.36% higher at Rs 2,284.95 on NSE.