Stocks that promoters bought & sold in past 30 days

Wendt, Praxis Home Retail Ltd and Shankara Building Products Ltd are among a dozen companies, where promoters cut their stakes in the past 30 days. ZEE Media, Onward Technologies Ltd, Suprajit Engineering Ltd, DB Corp and Star Health are among a dozen companies, where promoters upped stakes in the past 30 days. 

Wendt India, the manufacturer of super abrasives, grinding machines, and specialised cutting tools, saw Germany promoter Wendt GmbH offloading 37.5 per cent stake in the past one month.

Wendt promoters had proposed to offload up to 6,00,000 shares of the company, representing 30 per cent of the total issued and paid up equity share capital on May 15 and May 16. They had an option to additionally sell 1,50,000 equity shares, representing 7.50 per cent of the total paid up equity share capital of the company. 
It was followed by Praxis Home Retail Ltd (13.7 per cent), Shankara Building Products (8.1 per cent) and TD Power Systems Ltd (6.3 per cent). Diamond Power Infrastructure Ltd, Azad Engineering Ltd, Gravita India Limited, Capital Trust Ltd and Paras Defence and Space Technologies Ltd are a few other stocks, where promoters cut holdings by 3-6 per cent. 

"While we are watchful of flurry of insider/PE sales, there can be multiple reasons for sale that may be beyond valuations. What is heartening to see that there is ample demand/liquidity which have comfortably absorbed the aforesaid supplies," said Manoj Bahety, Founder & Fund Manager, Carnelian Asset Management & Advisor. 

On the flip side, ZEE Media promoters upped stakes in the company by 0.51 per cent. It was followed by Onward Technologies (0.44 per cent), Suprajit Engineering (0.42 per cent) and DB Corp (0.42 per cent), data compiled by YES Securities suggested. 

Star Health (0.31 per cent), Sterlite Tech (0.25 per cent), Pudumjee Paper Products Ltd (0.25 per cent) and Sunlite Recycling Industries (0.24 per cent) also witnessed promoter buying in the past 30 days. 

Bahety said retail investors must focus on core fundamentals and business metrics rather than paying too much emphasis on short term supply and demand of stocks.