Insider trading: Shares worth Rs 25,500 crore sold in 2025’s volatile market
Largest insider sales were recorded in Bajaj Finserv (Rs 5,502 crore), Authum Investment & Infrastructure (Rs 2,473 crore), JB Chemicals (Rs 1,628 crore), Apollo Hospitals (Rs 1,479 crore) and ZF Commercial (Rs 792 crore).

- Sep 18, 2025,
- Updated Sep 18, 2025 8:24 AM IST
2025 has been a volatile year for Indian equities, with markets sliding in the early months before staging a strong rebound. Against this backdrop, insider selling by promoters and related groups surged to Rs 25,500 crore so far this calendar year, compared with just Rs 3,860 crore of insider buying, according to a study by Nuvama. This translated into net selling of Rs 21,640 crore.
The brokerage said the largest insider sales were recorded in Bajaj Finserv (Rs 5,502 crore), Authum Investment & Infrastructure (Rs 2,473 crore), JB Chemicals & Pharma (Rs 1,628 crore), Apollo Hospitals Enterprise (Rs 1,479 crore) and ZF Commercial Vehicle (Rs 792 crore).
On the other hand, top insider purchases were seen in Jindal Steel (Rs 997 crore), Indus Towers (Rs 708 crore), Jindal Stainless (Rs 352 crore), Tourism Finance Corporation (Rs 161 crore) and Paisalo Digital (Rs 126 crore).
“2025 has been a volatile year, with markets sliding in the early months before staging a strong rebound. Volatility has persisted, driven by a mix of international developments and domestic factors. But in every storm, some see opportunity,” said Abhilash Pagaria, Head – Nuvama Alternative & Quantitative Research.
He added that tracking insider transactions helps gauge conviction and sentiment. “Did they capitalise on shaky prices to increase their stakes, signalling confidence, or did they offload shares?” Pagaria said.
For September, Nuvama noted insider buying in Indus Towers (Rs 487 crore), Jindal Stainless (Rs 113 crore), Paisalo Digital (Rs 82 crore), Veedol Corporation (Rs 66 crore) and Tourism Finance Corporation (Rs 56 crore).
Companies that witnessed insider selling during the month included Voltamp Transformers (Rs 597 crore), Aditya Vision (Rs 346 crore), Dr Lal PathLabs (Rs 133 crore), Safari Industries (Rs 45 crore) and Sigachi Industries (Rs 27 crore).
2025 has been a volatile year for Indian equities, with markets sliding in the early months before staging a strong rebound. Against this backdrop, insider selling by promoters and related groups surged to Rs 25,500 crore so far this calendar year, compared with just Rs 3,860 crore of insider buying, according to a study by Nuvama. This translated into net selling of Rs 21,640 crore.
The brokerage said the largest insider sales were recorded in Bajaj Finserv (Rs 5,502 crore), Authum Investment & Infrastructure (Rs 2,473 crore), JB Chemicals & Pharma (Rs 1,628 crore), Apollo Hospitals Enterprise (Rs 1,479 crore) and ZF Commercial Vehicle (Rs 792 crore).
On the other hand, top insider purchases were seen in Jindal Steel (Rs 997 crore), Indus Towers (Rs 708 crore), Jindal Stainless (Rs 352 crore), Tourism Finance Corporation (Rs 161 crore) and Paisalo Digital (Rs 126 crore).
“2025 has been a volatile year, with markets sliding in the early months before staging a strong rebound. Volatility has persisted, driven by a mix of international developments and domestic factors. But in every storm, some see opportunity,” said Abhilash Pagaria, Head – Nuvama Alternative & Quantitative Research.
He added that tracking insider transactions helps gauge conviction and sentiment. “Did they capitalise on shaky prices to increase their stakes, signalling confidence, or did they offload shares?” Pagaria said.
For September, Nuvama noted insider buying in Indus Towers (Rs 487 crore), Jindal Stainless (Rs 113 crore), Paisalo Digital (Rs 82 crore), Veedol Corporation (Rs 66 crore) and Tourism Finance Corporation (Rs 56 crore).
Companies that witnessed insider selling during the month included Voltamp Transformers (Rs 597 crore), Aditya Vision (Rs 346 crore), Dr Lal PathLabs (Rs 133 crore), Safari Industries (Rs 45 crore) and Sigachi Industries (Rs 27 crore).
