The promoters of FMCG major Dabur India are looking to sell $100 million or around Rs 800 crore worth of shares via a block deal on Tuesday, December 20, sources told CNBC-Awaaz. The promoters are looking to sell at up to 4 percent discount to the market price. Goldman Sachs would be the broker for the deal.

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Shares of Dabur India ended 1.6 percent higher at Rs 589.05 apiece on the National Stock Exchange (BSE) on Monday, December 19.

Earlier this month, global research firm Morgan Stanley upgraded the Dabur India stock to overweight and raised its target price to Rs 660 per share.

Morgan Stanley upgraded Dabur India to overweight from equal weight and increased its price target from Rs 578 per share to Rs 660 per share, an upside of 10 percent.

Morgan Stanley in its note mentioned, “While demand trends are yet to reflect a recovery in rural demand, we see accelerating signals that the rural weakness recorded over the last four quarters could be turning a corner.”

Last month, the FMCG major had announced the acquisition of 51 percent stake in Badshah Masala. The Rs 587.52-crore acquisition will mark the company's foray into Rs 25,000-crore branded spices category.

Dabur also said the remaining 49 percent stake in Badshah Masala will be acquired after five years.

Meanwhile, its quarterly earnings report for the September quarter had also met Street expectations.

Last week, in a large trade, 3.7 crore shares or 1.3 percent equity of FSN E-Commerce Ventures, the parent company of Nykaa, changed hands in a block deal.

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(Edited by : Shoma Bhattacharjee)