linkedin
BROUGHT TO YOU BY
Exclusive Access, Inclusive Growth

WELCOME TO ET PRIME

BROUGTH TO YOU BY
Exclusive Access, Inclusive Growth
ET Prime

Share purchases by promoters lift sentiment on D-Street

Since August 1, promoters of nearly 70 companies — mostly from mid- and small-cap segments — have increased their stakes. Some large companies, whose shares have been beaten down, too saw their promoters raising their holdings through open market purchases.
font size
FONT SIZE
save
SAVE
saved
SAVED
Gift this article
GIFT ARTICLE
21 Sep 2020 1 Mins Read 0 comment
Tata Sons bought 58 lakh shares of Tata Motors valued at 33 crore from the open market early this month. ETRealty
Tata Sons bought 58 lakh shares of Tata Motors valued at 33 crore from the open market early this month.
Mumbai: Promoters have been mopping up shares of their firms in the secondary market of late, signalling optimism about their companies’ prospects amid challenging economic conditions. Since August 1, promoters of nearly 70 companies — mostly from mid- and small-cap segments — have increased their stakes. Some large companies, whose shares have been beaten down, too saw their promoters
growth outlook.” Among the prominent mid-cap companies, Welspun India, Chambal Fertilisers, Alembic, KEC International, Trident, Bajaj Auto, Somany Ceramics, among others, have seen promoters buying shares through open market purchases since August 1. While Nifty gained 4 per cent during the same period, Nifty Midcap 100 and Smallcap 100 indices rallied 12 per cent and 20 per cent, respectively.
Mumbai: Promoters have been mopping up shares of their firms in the secondary market of late, signalling optimism about their companies’ prospects amid challenging economic conditions. Since August 1, promoters of nearly 70 companies — mostly from mid- and small-cap segments — have increased their stakes. Some large companies, whose shares have been beaten down, too saw their promoters growth outlook.” Among the prominent mid-cap companies, Welspun India, Chambal Fertilisers, Alembic, KEC International, Trident, Bajaj Auto, Somany Ceramics, among others, have seen promoters buying shares through open market purchases since August 1. While Nifty gained 4 per cent during the same period, Nifty Midcap 100 and Smallcap 100 indices rallied 12 per cent and 20 per cent, respectively.

The latest from ET Prime is now on Telegram. To subscribe to our Telegram newsletter click here.

Gift this story

YOU CAN GIFT 0 MORE STORIES THIS MONTH

Maximum 10 Email IDs allowed

300 characters remaining

Gift Sent Successfully

Limit Reached
Limit Reached

You’ve gifted all the 0 articles from your monthly gift bucket!

Please come back next month.

0 more articles will be waiting for you in your gift bucket.

Current Edition

Message from Planet Labs’ eye in the sky: India is a medieval knight in the age of modern warfare
Space

Message from Planet Labs’ eye in the sky: India is a medieval knight in the age of modern warfare

Satellite pictures of the Galwan valley region shared by US-based Planet Labs exposed China backtracking on the agreement with India to disengage. While the images did help India foster its case in shaping global opinion, it also exposes the country’s unpreparedness in advanced technologies. The episode underlines the urgent need to nurture companies in satellite imaging and space technology.

[[^message]]

Result

[[/message]] [[#message]]

[[message]]

[[/message]]