Promoters cash in on market rally, selling over Rs 40K cr in September quarter
Promoters continue to cash in on the market rally, with those of about 180 companies selling stock worth more than ₹40,000 crore through open market transactions in the September quarter so far, indicating that valuations are rich enough for owners to lock in gains on part of their equity holdings.
For the year to date, the value of shares sold by promoters via secondary market has already crossed ₹1 lakh crore. That's more than twice in all of 2023, when the amount stood at ₹48,000 crore. In 2022 and 2021, the numbers were ₹25,400 crore and ₹54,500 crore, respectively.
According to data from BSE and NSE, promoters of companies such as InterGlobe Aviation, Ambuja Cements, Patanjali Foods, Max Financial Services, KPR Mills, Easy Trip Planners, Welspun Living, Cyient DLM, Sharda Motor Industries, Cigniti Technologies, and Ethos have sold shares worth ₹300 crore to ₹10,500 crore since July 1.
Various Reasons
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