According to analysts, dominant shareholders, including founders, raising stakes in companies is often considered to be a positive indicator and could hint at anticipated strong growth in earnings.
“Most of these stocks reported better numbers in the September quarter and increased participation of investors could be in anticipation of this,” said K Dileep, head of PMS, Geojit Financial Services.
These 11 stocks posted an average 46% growth in sales in the 12-months ending September 30 and 104% growth in net profits during the same period compared to a year ago. UNO Minda, which has gained 15% on the bourses this year, reported a 30% year-onyear growth in sales and 72% in net profits for the trailing 12-months ended September 30. EPS has grown 63%. Maharashtra Seamless, which gained 45% in 2022, posted 82% growth in sales and 287% growth in profits.
According to analysts, dominant shareholders, including founders, raising stakes in companies is often considered to be a positive indicator and could hint at anticipated strong growth in earnings.
“Most of these stocks reported better numbers in the September quarter and increased participation of investors could be in anticipation of this,” said K Dileep, head of PMS, Geojit Financial Services.
“Bectors Food has done well in the September quarter by expanding its direct businesses. Raw material prices cooling off resulted in a better-than-expected earnings growth for the company for the quarter, whereas Mirza International recorded better sales growth in the September quarter compared to Bata India or Relaxo,” he added.
The Mirza International stock has rallied 203% so far this year with earnings per share jumping from `0.61 in FY21 to `11.98 for the trailing 12 months ended September 2022. Earnings of select companies such as Atul, Bectors, NCL Industries, and Poddar Housing, however, shrunk in the past 12 months compared to the previous such period.
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