CG Power - Shares are Moving from Weak to Strong Hands

By Research Desk
about 9 days ago

CG Power shareholding pattern, as at 30-6-21, throws interesting data, which shows that shares are moving from weak hands to strong hands. Even Promoters bought about 2 lakh shares in June quarter, while institutional investors increased  their stake to 22.91 cr shares, as at 30-6-21, from 21.55 cr shares held on 31-3-21. This is inspite of HDFC Fund having reduced their stake by 2.21 crore shares in June quarter to 2.95 cr shares (from 5.16 cr shares), which were lapped by FIIs.

Individual retail shareholders seen reducing their holding to 29.23 cr shares on 30-6-21 , from 29.54 cr shares on 31-3-21, though shareholders increased to 1.69 lakh investors in June, from 1.54 lakh investors on 31-3 21. Same thing seen with HNIs, reducing holding to 9.31 cr shares in June, from 10.13 cr shares in March 21.

Whenever, we see reduction of stake by the retail investors and increase in holding by the Institutional investors, that is the most bullish data, as stock is seen quietly in deep accumulation. Stock had gone in T2T from 9th June, while its high was at Rs.92, with Rs. 90 seen on 15th June, in T2T period. Volume now is seen having shrunk, while HDFC Fund also seen no more seller, (as volume has shrunk) which can make the stock to rebound, on some trigger, which could be Q1 numbers.

This is usual of retail investors to buy a rising stock and exit from the falling one, as they are seen most impulsive lot of investors, as Media and Hourly experts, also made them more impulsive.

This is not a buy or sell recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.

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