Insiders are buying these five stocks amid the pullback
Subscribe to enjoy similar stories. My colleague and lead smallcap analyst at Equitymaster, Richa Agarwal, recently wrote this about insider buying amid this market correction. “If you have been following my articles, one of the things I track for my watch list is insider action. Unlike in the case of IPOs, which flourish in overvalued markets allowing promoters to monetise their stake at the best price possible, open market purchases by promoters in listed companies amid a market correction are a good starting point to dig further. As owners of the business, they are the majority stakeholders with the longest-term horizon in most cases. If they are willing to buy a meaningful quantity of stock with their personal money at the market price, it signals confidence." Her analysis is bang-on and I 100% agree with her.
In this volatile environment, insider activity is a good point to start digging further into stocks. With that in mind, let’s look at a few stocks that have seen insider buying in the past few trading sessions. Founded in 1965 in Mumbai, NRB Bearings was the first company in India to manufacture needle roller bearings.
It now offers a wide range of bearings, including a new generation of lightweight drawn cup bearings. Harshbeena Zaveri, the company’s promoter and director, recently bought shares in three tranches – 37,805 on 11 November, 25,929 on 12 November, and 37,126 on 13 November. Also read: Your watchlist amid the market correction A look at the company’s shareholding pattern over the past eight quarters reveals a trend.
Read more on livemint.com
