Page 7 - Prime Database News Today

As many as 110 managing directors or chief executives who were also on the boards of NSE-listed companies quit in the first 10 months of 2023, according to data compiled for ET by primeinfobase.com.

The Tata Technologies IPO attracted maximum investor interest, witnessing a subscription of 6.5 times, followed by Gandhar Oil Refinery (5.66 times) and Flair Writing Industries (2.3 times)

By reducing their stakes in the companies they founded or manage, insiders are creating space for local and foreign institutional investors to amass the kind of sizable positions they have long been unable to build. Nearly half of all publicly traded shares have been squirreled away by insiders, at a time when investors have begun to view India as a rare source of rapid growth in the global economy.

Booming stock markets and, in some cases, the need to repay loans backed by share pledges, may nudge founders to sell down further, analysts said.

India Business News: Corporate insiders in India have sold $12 billion worth of stock in the first ten months of the year, indicating an overvalued market. However, this i

Domestic investors are tightening their grip on the ownership of listed companies. The gap between the shareholding of domestic institutional investors (DIIs) and foreign portfolio investors (FPIs) narrowed to 13.11 percentage points at the end of the September 2023 quarter. At the peak, the gap was nearly 50 percentage points in March 2015, according to an analysis by Prime Database, a leading provider of data on the capital market.

During the month, mutual funds divested nearly Rs 2,700 crore from public sector firms, including State Bank of India ONGC Ltd and SAIL

Of the top 10 stocks that saw the highest increase in retail shareholders in the last one quarter, seven of them are part of the midcap and smallcap segments, and four of them belong to the public sector space, data by Prime Database showed.

The central bank increased the risk weight on consumer loans of commercial banks and NBFCs by 25 percentage points.

In 10 stocks alone, retail investors bet more than Rs 62,100 crore in the quarter ended September, data shared by Prime Database showed. Retail investors invested nearly 75% of this money alone in HDFC Bank.