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1. Aarti Industries:  This chemicals company’s promoters are selling shares via market sales. This week alone nearly 45,000 shares were sold for Rs 5.4 crore. Since the year began, promoters have sold 1.6 lakh shares worth Rs 19.7 crore, and directors sold 5,400 shares worth Rs 65 lakhs across 14 market sales.

2. GMM Pfaudler: This glass-lined equipment manufacturer’s stock is up by 13% in two weeks. This jump has pushed its price over the 200-day exponential moving average (EMA), 100-day EMA, and 50-day EMA. The stock price has still not recovered from its heavily discounted offer for sale (OFS) in September 2020.

3. Cochin Shipyard: Mutual funds are selling this shipbuilders shares in droves. In April 2020, mutual funds held 94 lakh shares in the company. Between April to January 2021, they disposed of 97% of their stake, holding just 2.4 lakh shares in the company in January 2021.

4. Page Industries: Brokers have turned cold on this innerwear company. In the past month, two brokers - Geojit BNP Paribas and Chola Wealth have downgraded their recommendations on the stock while ICICI Securities and Axis Direct have maintained a ‘Hold’ rating. Its average broker target price is still at a downside of 4% despite its stock dropping by 10% in three weeks.

5. Burger King India: This quick-service restaurant’s insiders have pledged shares for the first time since it listed in December 2020. This week, 1.4 lakh shares worth Rs 2 crore were pledged by insiders. Its stock price has dropped by 25% since its first week of trading.

Since the year began the benchmark Nifty50 rose by 5%, but some index companies saw far bigger gains. This buying pressure pushed them into the overbought zone. Here are the top 5 most overbought companies in the Nifty50 based on their relative strength index (RSI) and stock price change in 2021.

1. APL Apollo Tubes: Since the beginning of the year, this steel pipes maker’s insiders have disposed 30.8 lakh shares worth Rs 297 crore. This includes 40,000 shares sold by the company’s promoters and 17,000 shares sold by the company’s directors.

2. Vedanta: This mining company’s chief financial officer has penned his resignation to the company’s board. Its stock price is up by 120% since November 2020.

3. Pidilite Industries: This chemicals manufacturing company’s promoter has sold 40,000 shares worth Rs 7.1 crore via a single market sale. This is the first time a promoter has disposed of the company’s shares through a market sale since February 2020.

4. Deepak Nitrite: This speciality chemicals company’s stock price is surging with rising delivery volumes. Since the month began, its stock is up by 30%. Its delivery volume has jumped over 50%, higher than its weekly average delivery volume (25%), monthly average delivery volume (28%), and 6-month average delivery volume (30%).

5. HCL Technologies: Mutual funds are consistently increasing their holding in this IT-services company. In January 2021, mutual funds held 17.5 crore shares, up by 13.6% since September 2020. It saw more mutual funds buying than selling shares in each of the past five months.