With the markets being highly volatile and an overall downward trend since the market peaked at record highs over the last few months, insider sales have far outpaced insider buys, especially for companies like Gland Pharma which have had their IPOs in a previous couple of years.
While the BSE Healthcare Index gained 1.94% over the past week, Gland Pharma (NSE: GLAND) lost 3.34% due to heavy insider selling, which totaled ₹2.45Cr.
Welcome to the 1st edition of Inside Monday which will be posted every Monday and include notable insider trades made over the last week.
Notable Insider Buys
1.PSP Projects
PPP Family Trust of the promoter group acquired 25000 shares of this construction company paying ₹560.79 per share for a total amount of ₹1.4 Cr.
2.MANAPPURAM FINANCE LTD.
Promoter and Director NANDAKUMAR V P acquired 58000 shares of this gold loan non-banking financial company paying ₹85.7 per share for a total of ₹49.7 lakhs.
3. GNA Axles
Rasleen Kaur of the promoter group acquired 5162 shares of this manufacturer of rear axle shafts, spindles, and drive shafts for tractors and commercial vehicles company paying ₹523.05 per share for a total of ₹27 lakhs.
4. Vandana Knitwear
Charul Ajmera of the promoter group acquired 2505336 shares of this manufacturer, exporter, and seller of various textile fabrics, paying ₹1 per share for a total of ₹25 lakhs.
5. Aspira Pathlab & Diagnostics Ltd
Shraddha Bhanushali, a Director’s Immediate Relative, acquired 26700 shares of this manager, and administrator of various diagnostics centers, paying ₹51.6 per share for a total of ₹13.79 lakhs.
Notable Insider Sales
1.Gland Pharma
5 insiders sold shares of this developer and manufacturer of injectable-focused generic liquid parenteral products
SAMBASIVARAO GANIPISETTY, a designated person sold 6000 shares for ₹2,676 generating ₹1.6 Cr from the sale.
T V SATYANARAYANA, a designated person sold 2000 shares for ₹2701 generating ₹54 lakhs from the sale.
S SRINIVASA RAO, a designated person sold 1500 shares for ₹2694 generating ₹40.4 lakhs from the sale.
BH LENIN KUMAR RAJA, a designated person sold 1000 shares for ₹2690 generating ₹26.9 lakhs from the sale.
G V K S N KUMAR, a designated person sold 950 shares for ₹2670, generating ₹25.36 lakhs from the sale.
2. Grasim Industries
KRISHNAKISHORE MAHESHWARI, a designated person of this operator in fiber, yarn, pulp, chemicals, textile, fertilizers, and insulators businesses in India and internationally, sold 10,000 shares for ₹1324, generating ₹1.3 Cr from the sale.
3. KOVAI MEDICAL CENTER & HOSPITAL LTD
The promoter of this hospital services provider, Dr.S.Rajkumar, sold 3333 shares, reducing his stake from 0.03% to 0% of the company for ₹1412, generating ₹47 lakhs from the sale.
4. Tanla Platforms Ltd
Rajesh Nadigadda, a designated person of this cloud communication services provider for mobile operators company, sold 3000 shares, reducing his stake from 0.02% to 0.01% for ₹1010, generating ₹30 lakhs from the sale.
5. Jetmall Spices and Masala Ltd
The promoter of this trader in spices, masalas, dry fruits, food grains, and kirana products company BHARAT KUMAR PUKHRAJ sold 2,52,000 shares, reducing his stake from 37.12% to 32.91% of the company for ₹23.46, generating ₹59.1 lakhs from the sale.