Tide Water Oil, Paisalo, Deepak Nitrite: These 25 firms see highest promoter buying in last three months

Promoters of some companies were seen raising their holdings over the past three months till July 5, when the benchmark BSE Sensex gained nearly 8%. On the other hand, the BSE Midcap and BSE Smallcap indices rallied 16% and 18% respectively. 
 
Data available with ICICI Direct shows that promoters of chemical firm Tide Water Oil (India) bought shares worth Rs 72.94 crore (1.78% of market cap) in the last three months. It was followed by Paisalo Digital (Rs 58.90 crore) and Deepak Nitrite (Rs 36 crore). Shares of Tide Water Oil (India) have rallied 129% in the last one year, while Paisalo Digital has gained 187% during the same period.
 
Consolidated net profit of Paisalo Digital increased 91% year-on-year (YoY) to Rs 178.97 crore in financial year 2023-24 (FY24). The company posted a profit of Rs 93.62 crore a year ago. On the other hand, net profit of Tide Water Oil increased by 25% YoY to Rs 142.93 crore in FY24.
 
“Promoters have an in-depth understanding of the companies they invest in, from financial health to market positioning,” ICICI Direct said.
 
Data further highlights that the promoter of Deepak Nitrite bought Rs 36 crore of shares in the last three months till July 5. Authum Investment & Infrastructure (Rs 33 crore), KPI Green Energy (Rs 30.95 crore), Ponni Sugars (Erode) (Rs 17.77 crore), Snowman Logistics (Rs 13.85 crore), Hinduja Global Solutions (Rs 10.65 crore), Bharat Wire Ropes (Rs 10 crore), Stel Holdings (Rs 9.13 crore), Seamec (Rs 7.87 crore) and Rainbow Children’s Medicare (Rs 6.06 crore) also witnessed some buying by promoters during the same period.
 
Andhra Paper, Redtape, Lincoln Pharmaceuticals, Kriti Industries, Insolation Energy, Krsnaa Diagnostics, Nahar Polyfilms, Wonderla Holidays, Lancer Container Lines, Som Distilleries & Breweries, Kovai Medical Centre, Nicco Park & Resorts and Gokul Agro Resources witnessed a buying of somewhere between Rs 1 crore and Rs 3.50 crore by promoters in the last three months till July 5.
 
Overall, promoters sold a substantial Rs 48,114 crore of shares through bulk and block deals for the quarter ended June 30, according to Primebbdatabase.com.
G Chokkalingam, Founder, Equninomics Research said, “Most promoters are better placed than retail investors in terms of understanding business prospects and valuations of their companies. In some cases, it shows their smartness to capitalise opportunities arising from rich valuations market is giving to some of their companies.”