3 stocks that promoters bought during the market crash post election result
election-induced volatility to Modi's ultimate victory... a lot has changed in the past two trading sessions. On Monday this week, Indian benchmark Nifty 50 surged topped the 23,000 level, while the BSE Sensex crossed the 76,000 level.
Buoyed by exit polls predicting a third term for Modi, everything felt good when stocks were going up on Monday. Little did investors know that the poll results on the next day would be so nail-biting. The BSE Sensex crashed more than 4,300 points while the Nifty registered one of the biggest falls in its history.
A stable government at the Centre bodes well for economic reforms and some bold steps. However, with polls predicting a very close victory for Modi, it's better to take the reform theme with a pinch of salt. For the next few days, everyone would be looking for stocks to buy in this severe market crash.
While we’ve mentioned the beneficiaries of Modi 3.0 in many of our previous editorials leading up to the June 2024 election, it’s now time to focus on ‘apolitical stocks’. Keeping the bottom-up investing approach in mind, let’s look at the top stocks that promoters or insiders of the company bought during the sharp fall. This data is sourced from the official BSE website where promoters or insiders have to disclose their day-to-day transactions.
The company is engaged in the manufacture of polyester films, specialty polymers, and polyester chips. It manufactures and markets its polyester films under the brand 'UmaPET'. The company serves varying markets like food packaging, processed food, fresh food, food on the go, shelf-stable, ready to eat, liquids, beverage packaging, and beverage packaging.
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