Thyrocare Technologies Ltd. fell nearly 7% after promoter Docon Technologies Pvt. Ltd. sold there shares

Shares of Thyrocare Technologies Ltd. fell nearly 7% on August 13 after promoter Docon Technologies Pvt. Ltd. sold a 9.9% stake in the diagnostics company through a block deal. According to Bloomberg data, Docon Technologies sold 15.77 million Thyrocare shares, reducing its holding to 51.02% from 60.92%. Thyrocare told CNBC-TV18 that no further stake sale is currently expected. The shares were reportedly offered at an indicative floor price of Rs 630–631 apiece, representing a discount of around 3% to Tuesday’s closing price. Despite the stake sale, the company maintained its 20% growth guidance and said it would reassess the outlook after the second quarter. Management also indicated that it would prioritise growth over margins.