Among top purchases, HDFC Bank bought 3.75 crores shares worth Rs 2,508 crores in HDFC Life. Adani group promoters have bought 15 lakh shares worth Rs 382 crore in their flagship company Adani Enterprises and Adani Power from the open market.
Promoters buying shares of their companies is considered positive as they are perceived to know best about their firms’ prospects. Securities and Exchange Board of India regulations permit a promoter to purchase up to 5% equity of his company in a financial year from the open market through the creeping acquisition route.
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