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Shares of hit a fresh 52-week low of Rs 516.50, slipped 12% in early morning trade on Tuesday, after investor offloaded 5% of its equity shareholding in maker through open market on Monday.

Yesterday, the stock tanked 20% to Rs 589 on the BSE and the National Stock Exchange (NSE). The stock plunged 35% in past six trading sessions from Rs 795 on August 10, 2018.

On Monday, August 20, 2018, Ashish Ramchandra Kacholia had sold 362,305 equity shares representing 5.04% of its holding in through bulk deals on the NSE and BSE. had sold these shares for Rs 221 million at an average price of Rs 608.12 per share, the bulk deal data shows.

had bought 48,000 equity shares of the company at price of Rs 590.24 per share. The name of the other buyers not ascertained immediately.

As of June 30, 2018, Ashish Ramchandra Kacholia had 7.21% or 518,432 equity shares in Vadilal Industries, the shareholding pattern data shows.

At 09:35 am; was trading 10% lower at Rs 530 on the BSE, as compared to 0.04% decline in the S&P BSE Sensex. A combined 540,080 equity shares changed hands on the counter on the BSE and NSE so far.