Promoters are persons or institutions responsible for starting and growing a business. They frequently contribute early cash, create business ideas, and make strategic decisions to assure success. Promoters often possess major equity holdings and have a strong interest in the company’s success.
Here are Large-cap stocks in which promoter increased their stake up to 3.55 % in Q4FY24 from Q3FY24.
Ambuja Cements Ltd
Ambuja Cements Ltd. is a significant cement company in India. It is part of the Adani Group. Ambuja Cement now has a cement capacity of 31 million tonnes and operates six integrated cement production facilities and eight cement grinding units around the country.
With a market capitalization of Rs 1.27 lakh crore, the shares were trading at Rs 644.15 per share, increasing around 1.21 percent as compared to the previous closing price.
The promoter of the company increased its stake by 3.55%, from 63.19% in Q3FY24 to 66.74% in Q4FY24. Additionally, 6.85% is owned by retail investors, 12.73% is held by domestic institutional investors, and 9.90% is owned by foreign institutional investors.
The company’s revenue stood at Rs 8,129 crore in Q3FY24, during the same time frame, net profit stood at Rs 1,090 crore.
ICICI Lombard General Insurance Company Ltd
ICICI Lombard General Insurance Co. Ltd is one of India’s leading and most established private sector general insurance businesses. It provides a diverse variety of goods and risk management solutions via numerous distribution channels.
With a market capitalization of Rs 84,666.62 crore, the shares were trading at Rs 1,718.40 per share, increasing around 1.28 percent as compared to the previous closing price.
The promoter of the company increased its stake by 3.36%, from 47.91% in Q3FY24 to 51.27% in Q4FY24. Additionally, 9.59% is owned by retail investors, 15.96% is held by domestic institutional investors, and 23.05% is owned by foreign institutional investors.
The company’s revenue stood at Rs 5,367 crore in Q3FY24, during the same time frame, net profit stood at Rs 520 crore.
Jindal Stainless Ltd
Jindal Stainless Ltd is one of India’s leading manufacturers of stainless steel flat products in Austenitic, Ferritic, Martensitic, and Duplex grades, which are utilized in a wide range of sectors such as automobiles, railroads, construction, and consumer goods.
With a market capitalization of Rs 60,839.46 crore, the shares were trading at Rs 738.85 per share, increasing around 2 percent as compared to the previous closing price.
The promoter of the company increased its stake by 1.81%, from 58.68% in Q3FY24 to 60.49% in Q4FY24. Additionally, 12.06% is owned by retail investors, 6.62% is held by domestic institutional investors, and 20.83% is owned by foreign institutional investors.
The company’s revenue stood at Rs 9,127 crore in Q3FY24, during the same time frame, net profit stood at Rs 691 crore.
Written by:- Abhishek Singh
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