The previous low was witnessed in the quarter ending September 30, 2017 when the share of private promoters stood at 40.19 per cent. Over the last 13 quarters, their share has fallen by 455 basis points from 45.13 per cent on March 31, 2022.
In Q2CY22, their holding fell 20 bps. Is it concerning?
Promoter raising stake is usually positive for investors but reduced holding may not be bad news as many sold shares for regulatory compliance, analysts said.
Usually, a fall in promoter pledge is considered as a positive sign, but it has be read with the macro-economic situation
Market expectation of tweaking taxes has not be met but surprises in the form of lower promoter shareholding and buyback tax has dampened mood
Talking about the outlook for the company, Akhilesh Maru, CFO, Shakti Pumps said they hope to close the year with revenues of Rs 315-320 and are in line to achieve revenue guidance target of Rs 450 crore in FY16 backed by improvement in capacity utilisation.
The company has ambitious plans for doubling their two-wheeler tyre capacity in Nagpur from 10 lakhs to 23 lakh tyres in two years, said Anant Goenka, MD, Ceat.
The promoter holding in Elcid Investments right now is 74.88 percent and there are only 257 retail shareholders who control the remaining company, which is 25.12 percent equity.
Godrej Properties is looking to dilute promoter stake in the company through the institutional placement (IPP) route. CNBC-TV18 caught up with Adi Godrej, the chairman of Godrej Industries to get the details.
Come September end and hundreds of stocks may have to shift to trade-to-trade segment if they don't comply with Sebi norms for 100% promoter holding to be in dematerialised form. And as many stocks remain non-complaint as of now, a serious impact on the overall liquidity cannot be ruled out, reports CNBC-TV18's Tanvi Shukla.