50 stocks in which promoters have increased their holding

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Srilata Rao
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50 stocks in which promoters have increased their holding

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Changes in promoter holdings offer hints on the owner’s confidence in a business: a drop without justified reasons warrants attention, while a sudden rise in promoter stake can indicate more value in a business or some imminent positive development or even chances of possible hostile acquisition bids that the promoter may be trying to prevent.

Shareholding data available on corporate database Capitaline shows 10 per cent of the BSE500 companies saw promoters raise their holdings during the quarter gone by.

Shares of five of these companies – Future Lifestyle, Future Consumer, Chambal Fertiliser, Minda Industries and KEC International – have surged 169 per cent, 157 per cent, 138 per cent, 135 per cent and 134 per cent, respectively, in last one year.

Promoters of Future Lifestyle increased their stake to 60.60 per cent from 60.42 per cent in September quarter, while those of Future Consumer hiked it to 48.75 per cent from 47.87 per cent. Kishore Biyani-led Future Consumer recently set up a joint venture with EK Sons Agro Foods.

Billionaire Mukesh Ambani-led Reliance Industries (RIL), which has been in the limelight since the launch of Reliance Jio in September last year, have seen promoters holding go up to 46.21 per cent in second quarter from 45 per cent at the end of the first.

The stock is up 76 per cent in last one year. The company’s market capitalisation crossed the Rs 6 lakh crore mark for a brief period on NSE on October 24.

Recently, Reliance Industries and its partner BP Plc of the UK submitted a revised investment plan to develop four deep-sea satellite gas finds, together with two other nearby finds, D-29 and D30, in the Krishna Godavari basin block. The company’s telecom arm Reliance Jio raised tariff rates with effect from October 19.

Grasim Industries also witnessed a substantial jump in promoter holding from 31.27 per cent as of June 30, 2017 to 40.10 per cent as of September 30, 2017.

Among others, Vedanta, Zensar Technologies, Vardhman Textile, TTK Prestige, Tata Motors, The Ramco Cement, Raymond, Parag Milk Foods, MRF, MindTree and Lupin saw promoter stake go up during the quarter ended September 30.

Kitchen appliances firm TTK Prestige reported an 11.23 per cent jump in consolidated net profit for September quarter at Rs 43.28 crore.

Textile and apparel major Raymond reported over two-fold rise in consolidated profit after tax (PAT) at Rs 60 crore for the quarter compared with Rs 25 crore posted for the year-ago quarter.

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Anil Agarwal, promoter of mining giant Vedanta, has announced plans to invest over $6 billion to double oil and gas production to 4 lakh barrels per day in 3-4 years. He wants the government to extend his licence for Rajasthan oil field without any condition. The stock is up 65 per cent in last one year.

Drug major Lupin’s US subsidiary recently acquired Symbiomix Therapeutics for a total cash consideration of $150 million (nearly Rs 980 crore).

Bayer Crop Science, Apollo Hospitals and Can Fin Homes also witnessed rise in promoter stake during the quarter.

German drug and agrochemicals major Bayer on October 13 announced sale of selected crop science businesses to BASF for $7 billion as part of its strategy to complete acquisition of US biotech major Monsanto.

However, the company said the deal would have no impact on Bayer’s India business. Shares of Bayer Crop Science are down 14 per cent in last one year.

Select public as well as private sector banks including Andhra Bank, Bank of India, Bank of Maharashtra, Central Bank, Indian Overseas Bank, IDBI Bank, J&K Bank, Union Bank, UCO Bank and Punjab National Bank also saw promoter holding go up during the quarter. Andhra Bank in August informed the bourses about allotting 19.16 crore equity shares to the Government of India on a preferential basis.

https://economictimes.indiatimes.com/ma ... 256974.cms
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