Amid a time when global stock markets witnessed one of the worst sell-off led by coronavirus crisis and Indian stock indices were no exception, promoters capitalizing on the opportunity lapped up additional shares (though marginally) in their respective companies in the quarter ended June.
"If observed closely, for most companies, promoters have increased stake negligibly around 100-200 bps in the June quarter. Steep correction in prices post March 2020 lows could be one of the most logical reasons for promoters to have added to their existing holdings," Nirali Shah, Senior Research Analyst, Samco Securities, is quoted as saying in a leading online business portal.
This was also true of some of the scrips from the small and mid cap space where there was seen pressure owing to uncertainty driven by corona risk.
And of the 211 companies' in which stake was increased by promoters, some 10 firms have surged in market price by over 100% so far in 2020.
So, here is a table listing out the 10 stocks which posted gains of over 100% so far in 2020
|Stock||Promoter holding in March||PH in June||Market- Cap||YTD|
|Dishman Carbogen Amcis||63.17||63,21||2923||121|
Note source for the above data is AceEquity