By Amit Mudgil lETMarkets.com Updated: Apr 18, 2017, 12.14 PM IST
NEW
DELHI: A 76 per cent rally in the midcap stocks this year, and up to 440 per
cent surge since May 2014, have made promoters of many midcap firms richer,
with data suggesting that promoter entities of 74 of the 85 BSE Midcap index
companies now hold shares worth $1 billion or more.
The list includes Sun TV’s Kalanithi Maran,
Biocon’s Kiran Mazumdar Shaw,
Oberoi Realty’s Vikas Ranvir Oberoi
and Adani
Group’s Gautam Adani, whose personal holdings in their listed entities exceed $
one billion
Latest
shareholding data available with the stock exchanges shows promoter entities
held in excess of 50 per cent in 65 of these 85 midcap firms as of March 31,
2017.
With a strong rally in the midcap stocks since
May 2014, market-caps of many of these BSE midcap index stocks have crossed the
Rs 50,000 crore mark, thereby technically getting elevated as largecaps, though
they remain part of the midcap index.
Among
these companies, Bajaj Finserv (Rs
42,778 crore), HPCL (Rs 29,029 crore), Bharat Electron (Rs 25,908 crore), Oracle
Financial Services(23,627 crore) and Marico (Rs 23,204 crore) are some of the
BSE Midcap index companies with highest promoter holdings in value terms.
Marico, ABB, SAIL and JSW Steel also
have promoter holdings in excess of $1 billion.
Shares
of Bajaj Finserv have rallied 440 per cent since May 2014. HPCL has seen its
stock soar 318 per cent during the same period. Shares of Bharat Electron and
Piramal Enterprises have risen up to 215 per cent in the same period.
Among companies where promoters have big stakes
in their personal capacity, Kalanithi Maran’s 29.55 crore holding in Sun TV is
worth Rs 23,111 crore. Maran held 75 per cent stake in the media firm as of
December 31.
Kiran
Mazumdar Shaw has 39.64 per cent stake in drugmaker Biocon, which is worth Rs
8,700 crore. Vikas Ranvir Oberoi of Oberoi Realty owned 62.7 per
cent stake in the realty firm as of March 31, which is worth 7,849 crore.
Gautam Adani’s 56.48 per cent stake in Adani Enterprises was worth Rs
7,245 crore as of March 31, 2017.
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