New Delhi, Aug. 22 -- Apollo Hospitals share price declined nearly 1% in intraday deals on Friday, August 22, following reports of a block deal in the counter wherein the promoter likely sold stakes.

According to a Reuters report, Apollo Hospitals shares worth Rs.1,489 crore ($170.5 million) were offloaded in a block deal. About 1.9 million shares were sold at a floor price of Rs.7,850 apiece, a discount of nearly 1% to Thursday's closing level.

A CNBC-TV18 report on Thursday said that Apollo Hospitals' Managing Director Suneeta Reddy is likely to divest up to 1.25% stake worth Rs.1,395 crore.

Reddy held a 3.36% stake in the company as of June 30, according to the latest shareholding data.

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