Promoters use tepid market conditions to hike stake in group firms

Tata Sons, the largest shareholder in Tata Motors, hiked its stake by 2 per cent to 35.3 per cent from 33.3 per cent

A total of 205 large, mid-and small-cap firms saw their respective promoters hike stake in their group companies via open market purchases in the last financial year 2018 – 19 (FY19).

Among the large-caps, Tata Motors, Bajaj Auto and JSW Steel saw their promoters hike stake in the last financial year, Srikalahasthi Pipes, Nandan Denim, Bodal Chemicals, Waterbase, Trident, WPIL, Sangam (India) and Voltamp Transformers that comprise the S&P BSE Small-cap index saw their respective promoters up their stake in the range of 2 per cent to 4 per cent during FY19. (See table below)

Most of these mid-and