Mumbai: Falling for the fourth day in a row, shares of realty firm Housing Development and Infrastructure Ltd (HDIL) Thursday slumped nearly 22 percent after its Vice-Chairman and MD Sarang Wadhawan sold 50 lakh shares through stock market.
Shares of the company tanked 21.81 percent to Rs 75.25 on the BSE.
At NSE, the scrip crashed 21.97 percent to Rs 75.10.
In the past four trading sessions, the stock had lost nearly 38 percent.
HDIL had on Tuesday said Sarang Wadhawan has sold 50 lakh shares for about Rs 57 crore through stock market.
Post this transaction, the stake of Sarang Wadhawan has come down to 0.99 percent from 2.19 percent, the company had said in a BSE filing.
The promoters held 37.36 percent stake in the company as on December 31, 2012.