Promoters Increases Stake: The Indian stock market has seen a steady decline due to the Russia Ukraine Tension and the rising prices of crude oil in the international markets. At the same time, foreign investors are also selling continuously, due to which there has been a decline. But this decline is turning out to be a boon for the companies. Promoters of companies and their senior executives have gathered to take advantage of this decline. According to the data, after the fall in the market since February 1, the promoters of companies are continuously buying shares from the secondary market.
Actually that is because due to the fall in the stock market, the stock market prices of the companies have come down, which has attracted them. Promoters have started taking advantage of the fall in valuation. According to the data, promoters of companies like HCL Technology, Chambal Fertilizer, Metropolis Healthcare, KRBL, Bajaj Auto, Westlife Development, Hatsun Agro Products, Maharashtra Seamless, have bought shares of their companies during the fall in the stock market from the open market.
Where the Nifty has declined 4.4%. So the shares of Midcap-Smallcap have also fallen heavily. Foreign investors have sold shares worth 36000 crores during this period. Taking advantage of this opportunity, the promoters of the companies had bought the shares of their companies from the open market since February.
For example, the stock of Metropolis Health Care has declined 22 per cent in the month of February and during this period the company’s founder has bought 1.50 lakh shares for Rs 30 crore. Promoters of HCL Technologies have bought shares worth Rs 1128 crore from the open market in the month of February. During this period, the share price has fallen by 16%. Since January, the stock of HCL Technologies has fallen from Rs 1352 to Rs 1130.
Chambal Fertilizer’s stock has fallen by 13 percent and during this time the promoters of the company have bought eight lakh shares from the open market with a valuation of 30 crores. Promoters of KRBL have bought 8 lakh shares for 15.5 crores. The stock of KRBL has fallen 16%. According to experts, even if there has been a fall in the market, the effect of which is visible on the shares of these companies. The promoters of these companies believe that these companies are very strong, due to which they are taking advantage of this declining phase.
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