Rs 1.4 lakh cr-booster shot! Promoters beef up holding in these 3 stocks in Q3

The correction in share prices, particularly in December, not only saw domestic institutional and retail investors indulge into buying stocks with attractive valuations, but even promoters of private companies increased their holdings.

The 10 stocks that saw highest buying by promoters in the quarter ended December has FSN E-Commerce at the top of the list.

Promoters are estimated to have net bought shares worth a whopping Rs 75,527 crore of the e-retailer in the quarter gone by, data by Primeinfobase showed.

The net purchase value has been calculated by multiplying the difference in the September and December quarter shareholding to the average closing price during the quarter, the database management firm said.

LTIMindtree was the second in the list, with promoters estimated to have net bought stocks worth Rs 34,380 crore.

Travel solutions provider Easy Trip Planners also found itself in the list, wherein promoters have net bought shares worth approximately Rs 27,680 crore.

In Motherson Group’s two listed companies – Samvardhana Motherson International and Motherson Sumi Wiring India – the promoters have cumulatively bought shares worth Rs 16,577 crore.

The other stocks that saw promoter buying in the quarter were Sheela Foam, BLS International Services, Rajnandini Metal, Steel Strips Wheels, and Maharashtra Seamless.

Stocks sold by promoters

Of the 10 stocks that saw the highest selling by promoters in the December quarter, Axis Bank topped the list.

Promoters are estimated to have net sold shares worth Rs 4,008 crore of the private sector lender.

In Macrotech Developers, promoters net sold shares worth approximately Rs 3,487 crore.

On an overall basis, private promoter holding went up in 165 companies listed on NSE. On the other hand, the holding went down in 285 companies, Primeinfobase said.

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