Pharmaceutical giant Cipla's shares plunged over 3% on Tuesday as its promoters sold 2.5% stake to institutional investors through a block trade. Promoters Yusuf Khwaja Hamied and Mustafa Khwaja Hamied sold the stake to raise funds for personal purposes, Cipla said. Earlier, reports said the deal may fetch them ₹1,849 crore. The promoter group now holds 34.23% of the company.