Confidence Booster? Adani Ports among top 10 cos to see highest promoter buying in Q1

economictimes.indiatimes.com:

The 10 companies that saw highest buying by promoters from the open market in the last quarter, has Adani Group’s cash cow Adani Ports and Special Economic Zone at the top of the list. Promoter and promoter group entities bought Adani Ports shares worth Rs 2,807 crore in the June quarter, according to Prime Database. The purchase value has been calculated by multiplying the difference in the March and June shareholding of promoters by the average closing price of the stock during the quarter.

The cumulative holding of promoters in Adani Ports rose to 62.89% from 61.03% a quarter ago. In the quarter, shares of the company have gained close to 17%. The second stock to see active buying by promoters was Aditya Birla Capital.

Promoters bought shares worth Rs 1,271 crore in the company during the last quarter. During the quarter, the shares have gained a whopping 28%. The third stock that got a boost from promoters was PNB Housing Finance.

Promoters net bought shares worth Rs 899 crore during the quarter. This stock has gained nearly 11% in the last quarter. The other companies that saw buying by promoters were Imagicaa World Entertainment, Steel Exchange India, Expleo Solutions, Lloyds Steel Industries, Rushil Decor, Paramount Communications, and Sangam India.Stocks Sold While there were several promoters who raised their holding in the quarter, there were a few that saw a reduction in the promoter holding.

While promoters had bought shares in Adani Ports, they further reduced their holding in Adani Enterprises, Adani Transmission, and Adani Green Energy. These shares were purchased by global investment firm GQG Partners. In Adani Enterprises, promoters sold shares worth Rs 3,807 crore.