In Bhansali Engineering Polymers, the promoters increased their stake from 52.6% to 55.7% in the March 2017 quarter at an average price of Rs 32.
In India, promoters are usually the controlling stakeholders in locally listed companies. Since they also often double up as top executives in the companies they own, their holdings act as the best proxy for minority shareholders seeking to assess the future prospects of a company they want to include in their portfolio. Running this easy scan through the shareholding documents might help pick outright winners. Here’s proof.
Metals maven Anil Agarwal, the promoter of Vedanta, increased his holding in December 2015 at an average price of around Rs 85. Vedanta shares currently trade at Rs 331 apiece. Similarly, in Bhansali Engineering Polymers, the promoters increased their stake from 52.6% to 55.7% in the March 2017 quarter at an average price of Rs 32. The stock trades at Rs 200. Similar trends have been observed in other big names like Kishore Biyani-owned Future Consumer and Indiabulls Ventures.
So, which promoters increased holdings in their companies in the latest quarter?
Among the larger names, Gautam Adani-run Adani Power and Shiv Nadar-promoted HCL Infosystems have seen a rise in the promoter holdings.
Adani Power promoters likely expect the issue of loss-making Mundra power plant to get resolved. In case of HCL Infosystem, promoters raised stake 12%.
