Vodafone Idea, Kiri Industries: Promoters significantly raised stake in these 34 firms in Q3

Promoters having their skin in the game raised their stakes in select companies during the December quarter, signalling renewed confidence. They increased their stakes at a time when the benchmark equity index, BSE Sensex, retreated more than 7% during the quarter. On the other hand, broader indices, the BSE Midcap and BSE Smallcap, declined more than 6% and 3%, respectively.

Initial data showed that at least 34 promoters upped their stake in Q3FY25. Banganga Paper Industries, formerly known as Inertia Steel, witnessed a significant jump in its promoter holdings to 71.09% as of December 2024 from 0.13% for the quarter ended September 2024. Shares of the company surged 79% during October-December 2024.

With an increase of 10.91 percentage points, Samyak International is next on the list. Promotes raised their stake to 23.93% from 13.02% during the same period. It was followed by Algoquant Fintech (up 7.78 percentage points to 73.68%), Garg Furnace (up 7.49 percentage point to 56.85%) and Kiri Industries (up 5 percentage point to 31.72%).  

These stocks have delivered mixed returns to investors in Q3FY25. For instance, Samyak International and Garg Furnace declined 27% and 23%, respectively, during October-December 2024. On the other hand, Kiri Industries and Algoquant Fintech gained 85% and 8%, respectively, during the same period.

Data further highlighted that Ace Software Exports, Universal Auto Foundry, Emerald Leisures, Asian Granito India, IOL Chemicals And Pharmaceuticals, Aplab, RK Swamy, Ecoplast, and OK Play India were among other firms in which promoters raised their stake by between 3% and 5% in Q3FY25.

In general, stake by promoters often seen as a positive indicator, reflects their optimism about future growth prospects and the underlying strength of their firms.

Finkurve Financial Services, Deccan Health Care, Fairchem Organics, Shree Ganesh Remedies, Radhe Developers (India), Bharat Parenterals, Daikaffil Chemicals India, Pankaj Polymers, Consolidated Construction Consortium, Emmbi Industries, Vodafone Idea, Orosil Smiths India, Benares Hotels, Mishka Exim, Kirloskar Industries, Kanani Industries, Oriental Rail Infrastructure, Hindware Home Innovation, Puretrop Fruits and Tokyo Plast International stood among other firms in which promoters increased their stake by more than 1 percentage point for the quarter ended December 2024.