Investors pay close attention to changes in a company's promoter holding, as it reflects the bullish/bearish sentiments among senior insiders who know the details of the business' performance. Today we take a look at five stocks with this bullish signal in their shareholding - promoters increasing their stake during Q4FY23:
- Aster DM Healthcare: This healthcare facilities provider has seen a 4% increase in its promoter and promoter group holdings, which reached 41.9% in Q4FY23. Promoter group Union (Mauritius) Holdings, along with the family promoters Azad Moopen Mandayapurath, Alisha Moopen and Ziham Moopen acting in concert, purchased a 4% stake in the company.
The promoter holdings remained unchanged for seven out of the past eight quarters, with the increase occurring only in the last quarter.
Aster DM Healthcare has reported profits for 10 consecutive quarters. But its net profit fell by 6% YoY to Rs 139.4 crore in Q3FY23. The stock price has increased 26.1% in the past year and 66.3% in the past two years. According to Trendlyne’s forecaster estimate, the healthcare facilities provider has a consensus recommendation of ‘Buy’, with seven ‘Strong Buys’, and one ‘Buy’ and ‘Hold’ each.
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Quess Corp: This software and services company has seen its promoter Fairbridge Capital Mauritius purchase a 4.5% stake through a buyback of shares on the NSE. Promoter Ajit Isaac also increased his stake by 0.4%. As a result, total promoter holdings increased to 56.7%. However, the net rise in promoter holdings over the past eight quarters is only 1.5%, as other sells happened over that period.
Quess Corp has reported profits for seven consecutive quarters, with its Q3FY23 profits at Rs 88 crore (up 5% YoY) and revenue at Rs 4,472 crore (up 21.3%). The stock’s price, however, has dropped by 47.9% in the past year and 40.4% in the past two years. The reason for the share price drop could be the sequentially falling profits since Q4FY22. According to Trendlyne’s forecaster estimate, the company has a consensus recommendation of ‘Buy’, with three analysts rating it a ‘Strong Buy’, and one analyst each giving a ‘Hold’ and a ‘Sell’.
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TCI Express: This logistics services provider has seen a 2.8% increase in its promoter and promoter group holding to 69.7% in Q4FY23. The promoter Vineet Agarwal acquired a 2.7% stake, increasing his overall holding to 5.2% in Q4. Apart from Agarwal, Bhoruka Express Consolidated also increased its stake in the company during the quarter.
Total promoter holdings have risen by 3% in the past four quarters and 2.9% in the past eight.
TCI Express’ net profit fell 8.9% to Rs 32 crore in Q3FY23, while its revenue grew 9.3%. Even though the stock’s price fell 19.8% in the past year, it has increased by 64.5% in the past two years. Trendlyne’s forecaster estimate states that this logistic provider has a consensus recommendation of ‘Buy’ from nine analysts– five ‘Strong Buys’, two ‘Buys’, and one ‘Hold’ and ‘Strong Sell’ each.
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UPL: This agrochemicals company has witnessed a 1.6% increase in its promoter and promoter group holdings, to 32.4% in Q4FY23. Promoter groups Harmonic Ventures and Suresight Ventures increased their holdings in the company by 0.5% and 1.1% respectively. They bought shares through the open market in multiple small tranches. The total promoter holdings have increased by 3.9% in the past four quarters and 4.4% in the past eight quarters.
UPL reported a net profit of Rs 1,087 crore (up 16.1% YoY) and a revenue increase of 21.4% in Q3FY23. The stock price has fallen 8.2% in the past year but increased by 22.7% in the past two years. According to Trendlyne’s forecaster estimate, the agrochemicals manufacturer has a consensus recommendation of ‘Buy’ from 23 analysts, including 18 ‘Strong Buys’, four ‘Buys’ and one ‘Hold’.
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Zydus Wellness: This FMCG company’s promoter and promoter group holding has increased by 1.1% to 66.5% in Q4FY23. Zydus Family Trust, a promoter of the company, acquired a 1.1% stake during the quarter through multiple small transactions in the open market between February 28, 2023 and March 29, 2023. The total promoter holding has increased by 1.6% in the past eight quarters.
Zydus Wellness has reported profits for nine consecutive quarters. In Q3, its profit stood at Rs 19.6 crore (down 16.1% YoY) and revenue was Rs 416.4 crore. The stock price has fallen 7.4% in the past year. According to Trendlyne’s forecaster estimate, the FMCG company has a consensus recommendation of ‘Buy’ from seven analysts, of which six are ‘Strong Buys’ and one is a ‘Buy’.
