Synopsis:
During the September quarter (Q2), several companies witnessed an increase in promoter holdings, reflecting the promoters confidence in their businesses and signalling potential positive sentiment to investors.
A rise in promoter stake often indicates a strong belief in the company’s growth prospects and future performance. Investors may view this as a bullish signal, suggesting stability and long-term commitment from the promoters. Companies across key sectors in India, including financial services, renewable energy, steel manufacturing, ceramics, and cement production, have seen promoters increasing stake in them in the September quarter.
Poonawalla Fincorp Ltd
Poonawalla Fincorp Ltd is a non-banking financial company (NBFC) offering a range of financial products, including personal, business, and pre-owned car loans, as well as loan against property and insurance solutions. It primarily serves consumers and micro, small, and medium enterprises (MSMEs) across India.
With market capitalization of Rs. 41,828 cr, the shares of Poonawalla Fincorp Ltd are closed at Rs. 484.55 per share, from its previous close of Rs. 489.65 per share. Promoters increased their stake from 62.46% in June quarter to 63.96% in the September quarter.
Adani Green Energy Ltd
Adani Green Energy Ltd (AGEL) is India’s largest renewable energy company, focusing on solar, wind, and hybrid power generation. With a portfolio of over 14 GW, AGEL aims to expand its capacity to 50 GW by 2030. The company is part of the Adani Group and is listed on the National Stock Exchange of India.
With market capitalization of Rs. 1,68,750 cr, the shares of Adani Green Energy Ltd are closed at Rs. 1,031.10 per share, from its previous close of Rs. 1,044.70 per share. Promoter holdings rose from 61.91% in the June quarter to 62.43% during the September quarter.
Maharashtra Seamless Ltd
Maharashtra Seamless Ltd is a leading manufacturer of seamless steel pipes and tubes in India. Established in 1988, the company caters to various industries, including oil and gas, infrastructure, and power, offering products like electric resistance welded (ERW) pipes and oil country tubular goods (OCTG).
With market capitalization of Rs. 7,824 cr, the shares of Maharashtra Seamless Ltd are closed at Rs. 570 per share, from its previous close of Rs. 570.80 per share. Promoters lifted their stake from 68.87% in the June quarter to 69.05% in the September quarter.
Kajaria Ceramics Ltd
Kajaria Ceramics Ltd is the largest manufacturer of ceramic and vitrified tiles in India, with an annual aggregate capacity of 90.50 million square meters. The company operates nine plants across India and Nepal, producing a wide range of wall and floor tiles under brands like Kajaria, GresBond, and Eternity.
With market capitalization of Rs. 19,390 cr, the shares of Kajaria Ceramics Ltd are closed at Rs. 1,208.70 per share, from its previous close of Rs. 1,227.10 per share. Promoter ownership increased from 47.48% in the June quarter to 47.61% in the September quarter.
Ambuja Cements Ltd
Ambuja Cements Ltd, part of the Adani Group, is one of India’s leading cement manufacturers. The company produces and markets cement and clinker for both domestic and export markets. In recent years, Ambuja has expanded its footprint through acquisitions, including Sanghi Industries, Penna Cement, and Orient Cement.
With market capitalization of Rs. 1,40,276 cr, the shares of Ambuja Cements Ltd are closed at Rs. 555 per share, from its previous close of Rs. 564.35 per share. Promoter stake edged up from 67.57% in June quarter to 67.68% in the September quarter.
Written by Manideep Appana
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