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On March 24, many big investors and promoters were active in the stock market and several companies saw notable sales of stake and buying interest.
Leading this action was ICICI Prudential Mutual Fund trimmed its exposure in Rashi Peripherals and sold 1.3% stake which was worth around ₹30 crore. However, at the same time, L7 Securities stepped in to buy a similar quantity which indicated a steady demand for the stock. Despite the stake sale, Rashi Peripherals’ share price edged up about 1% to ₹345.55.
Meanwhile, in Jupiter Infomedia, promoter Umesh Modi sold nearly 4% of the company for about ₹2 crore. However, the shares were quickly picked up by investors like Shivaan Capitalnest Advisors and Daizy Wealthedge Advisors. This further showed the continued interest of investor in the stock. Moreover, the stick rose over 3% to ₹50, although it has largely moved within a narrow range in recent weeks.
There was also significant activity in Jindal Poly Films where the investor Seetha Kumari cut her stake by half. She sold shares that were worth nearly ₹94 crore. Buyers included Subham Buildwell, Monet Securities, and Subham Capital.
Similarly, in the renewable energy space, the Adani Green Energy shares also saw a block deal. BNP Paribas Financial Markets bought a small stake from Morgan Stanley Asia (Singapore) for about ₹56 crore. The stock gained nearly 3% to close at ₹839.55.
Another highlight was the strong market debut of Raajmarg Infra Investment Trust, which rose almost 7% on its first day of trading. HDFC Mutual Fund bought a significant number of units, while Morgan Stanley Asia sold a larger portion.
Bottom line: Even though some big investors and promoters are selling stakes, the presence of buyers at similar level suggests that market interest in these stocks remains healthy.
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