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Promoters tightened grip with stake hikes in 500 firms during March panic

Expets say they may have seen sharp correction caused by Covid-19 as an opportunity to consolidate holdings and send a signal to the market on their companies' intrinsic value even as stock prices cra

Topics
Indian promoters | Coronavirus

Sachin P Mampatta  |  Mumbai 



debt, loan, liquidity, market share, corporate, company, companies, firm, india inc, cash, fund, shares, stocks, shareholding, investment, lending
Many promoters would be required to pay as much as 43 per cent tax on dividends for dividends declared in the new financial year

Promoters used the opportunity, provided by the market slump in the March quarter, to increase stake in companies they own. Over a fifth of the close to 2,500 firms analysed showed such a trend.

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First Published: Fri, July 03 2020. 20:44 IST

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