Substantial increases in promoter stakes across diverse industries have not only bolstered the confidence of investors but have also significantly contributed to the surge in market capitalization.
The strategic moves by promoters reflect a positive outlook on the economic recovery and growth prospects in India’s financial markets.
Here are the top companies in which promoters increased stakes by 1% or more in Q2 FY24
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Adani Enterprises Ltd.
The flagship company, Adani Enterprises Ltd., has seen a boost in its market cap as the promoter stake increased from 67.65% to 72.61%. Kempas Trade and Investment Ltd. and Infinite Trade and Investment Ltd. were the entities responsible for acquiring the additional shares.
Adani Energy Solutions Ltd.
Adani Energy Solutions Ltd. experienced a notable increase in promoter stake from 68.28% to 73.22%. The Adani promoter group purchased 8.5 crore shares, elevating their stake by 4.94% in the company.
Adani Ports and Special Economic Zone Ltd.
Adani Ports and Special Economic Zone also contributed to the surge, with the promoter stake rising from 62.89% to 65.53%. Resurgent Trade and Investment and Emerging Market Investment DMCC were the key entities involved in the stake increase.
Piramal Enterprises Ltd.
Ajay Piramal, the chairman of the Piramal Group, increased his stake in Piramal Enterprises Ltd. from 43.48% to 46.19%, further solidifying the company’s market presence.
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Camlin Fine Sciences Ltd.
Camlin Fine Sciences witnessed a significant surge as promoters raised their stake by 31.51 percentage points, reaching 48.03% in Q2 from 16.52% in the preceding quarter.
TCNS Clothing Co. Ltd.
Aditya Birla Fashion Retail Ltd. (ABFRL) completed the acquisition of a 51% stake in TCNS Clothing, propelling the promoter stake from 31.47% to 61.05%. This strategic move marked ABFRL’s entry into the women’s apparel brand.
Filatex Fashion Ltd.
Filatex Fashion Ltd. observed a substantial increase in promoter stake from 1.57% to 24.81%, indicating growing confidence in the company’s future prospects.
Unichem Laboratories Ltd.
In a share purchase agreement, Ipca acquired 2,35,01,440 shares of Unichem, increasing the promoter stake from 50.93% to 70.21%.
Bombay Burmah Trading Corporation Ltd.
Bombay Burmah Trading Corporation reported an impressive increase in promoter stake from 65.93% to 74.05%, with mutual fund and FII holdings also witnessing growth.
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Rallis India Ltd.
Tata Chemicals acquired an additional 4.99% stake in Rallis India, taking the promoter stake from 50.09% to 55.08%. This move aimed to consolidate the promoter holding in the company.
Mangalam Industries (India) Ltd.
Mangalam Industries saw a moderate increase in promoter stake from 45.69% to 49.62%, reflecting positive sentiments in the industry.
Sagar Cements Ltd.
Sagar Cements reported an increase in promoter stake from 45.2% to 48.31%, contributing to the overall positive sentiment in the cement sector.
Authum Investments & Infrastructure Ltd.
Promoters of Authum Investments & Infrastructure increased their stake from 71.47% to 74.53%, underlining a strong belief in the company’s growth potential.
Udaipur Cement Works Ltd.
Udaipur Cement Works reported a promoter stake increase from 72.54% to 75%, demonstrating confidence in the cement manufacturing sector.
Inox Wind Energy Ltd.
Inox Wind Energy witnessed a promoter stake increase from 67.26% to 69.51%, signaling positive expectations for the renewable energy sector.
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Eris Lifesciences Ltd.
Eris Lifesciences reported a modest increase in promoter stake from 52.86% to 54.91%, reflecting confidence in the pharmaceutical industry.
Mangalam Cement Ltd.
Mangalam Cement Ltd. observed a promoter stake increase from 34.36% to 36.32%, signaling optimism in the cement manufacturing sector.
Zydus Wellness Ltd.
Promoters of Zydus Wellness accumulated shares, increasing their stake from 67.1% to 68.54%, showcasing confidence in the wellness and healthcare industry.
Jai Balaji Industries Ltd.
Jai Balaji Industries witnessed a promoter stake increase from 58.74% to 60.02%, and the company delivered exceptional returns to investors.
Ramkrishna Forgings Ltd.
Ramkrishna Forgings reported a promoter stake increase from 46.27% to 47.41%, contributing to the positive momentum in the forging and automotive industry.
SEPC Ltd.
SEPC saw a promoter stake increase from 26.66% to 27.75%, indicating growing confidence in the power and energy sector.
