Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls
Just as
Nifty
notched a hat-trick of monthly gains with a 12% surge through May, a parallel trend has emerged: India Inc's promoters are cashing out. In what could be viewed as a potential red flag for the ongoing market rally to accelerate further, promoters and other large shareholders have offloaded shares worth a staggering Rs 43,400 crore in May alone.
This comes at a time when foreign institutional investors (FIIs) and domestic institutional investors (DIIs) have together pumped in nearly Rs 80,000 crore into Indian equities last month, alongside steady retail and
HNI
buying. The sell-off, led by high-profile block deals, is raising eyebrows about insider sentiment, especially with valuations running high.
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Undo
Topping the list is
Rakesh Gangwal
, co-founder of
IndiGo
, who sold shares worth over Rs 11,560 crore on May 27 in a fresh round of stake trimming in
InterGlobe Aviation
. A day later,
British American Tobacco
(BAT) offloaded a 2.5% stake in
ITC
through its subsidiary for around Rs 12,900 crore, one of the largest single-day exits in recent memory, shows data compiled from Prime Database.
Earlier in the month, Singtel sold
Bharti Airtel
shares worth Rs 12,880 crore on May 16. Meanwhile, General Atlantic Singapore Fund exited
KFin Technologies
in a Rs 1,790 crore deal, and Sajjan Jindal Family Trust pared its stake in
JSW Infrastructure
for Rs 1,210 crore.
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Prime Database shows promoter selling activity also surfacing in smaller firms like Gravita India, PG Electroplast, TD Power, Paras Defence, and Ami Organics, fanning concerns among market watchers.
Block deals continued this week as well with action seen in Zinka Logistics, Aptus Value Housing Finance,
Yes Bank
and Ola Electric on Tuesday. PE investor True North and others sold over $175 million worth of Niva Bupa Health Insurance shares on Monday.
Siddharth Khemka of Motilal Oswal Financial Services pointed to liquidity dynamics behind the move. 'If FIIs want to buy, and DIIs and retail don't want to sell, then who provides supply? The promoters are stepping in. They want liquidity – they can't call up individual investors to offload 3% blocks. When institutional money is present, that's when promoter selling comes into play,' he said, adding that block deals and IPOs are likely to surge again as markets stabilize.
Also read |
India crowned top destination for stock compounders, says BofA; lists 9 structural themes
Anshul Saigal, founder of Saigal Capital, cautioned against over-interpreting promoter sales. 'There can be multiple reasons to sell – like the Whirlpool case where the parent is in distress. I pay less attention to promoter sales and more to purchases. There's only one reason to buy – the belief that the stock will go up.'
However, Sandip Sabharwal, market expert, flagged a possible contradiction. 'If companies are guiding for strong growth but promoters are dumping large volumes at high valuations, that's a dichotomy. It raises questions. I'm more concerned about small and midcap promoter sales than the larger ones like InterGlobe or BAT's sale in ITC. But even large-cap exits pull liquidity from the system and cap market upside.'
While the promoter exit wave may be driven by individual circumstances – ranging from global financial pressures to portfolio rebalancing – the timing is unmistakable. As the market roars ahead, insiders are cashing in. Whether it's a canary in the coal mine or just business as usual remains to be seen, but for now,
Nifty bulls
may want to tread with a touch more caution.
Also read |
Rs 15 lakh crore in net profit! India Inc's top 500 cos break records in FY25 despite downgrades
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Financial challenges When a child wants to pursue a sports career, the immediate concern for parents is financing the journey so that he can avail of the best training. While the initial costs at the recreational level of play are low and manageable, the sudden jump in expenses when he transitions to professional training comes as a Kolkata-based tennis aspirant, Krishnav Jhunjhunwala, 15, first picked up a tennis racket at 6-7 years, the cost was barely Rs.5,000-6,000 a month, including his coaching fee and gear expenses. After initiating professional training at 10-11 years, the expenses shot up nearly 10 times to Rs.50,000-60,000 a month. 'The coaching fee itself has gone up from Rs.3,000 to Rs.15,000, while the beginner rackets that cost Rs.4,000-6,000 have been upgraded and are much more expensive,' says Ashish, Krishnav's father. Krishnav, meanwhile, is making progress; he has won the All India Tennis Association's (AITA) tournament in Sonepat and reached the semi-finals in of the sport, most kids start playing at around 6-7 years, at which point the costs are nominal at Rs.5,000-6,000 a month because it only comprises club or academy fee (Rs.2,000-5,000 a month) and basic equipment or clothes. Within 3-4 years, the child's talent or dedication are clearly visible, and if the parents introduce professional coaching, the prices surge, as do the cost heads. Professional stage Besides professional coaching fee, parents need to shell out on physical (gym training) and mental fitness (psychologist), advanced equipment and gear, diet and nutrition, as well as match fees for tournaments, which require frequent travel by the kid and parent.'At professional level for, say, badminton, it can cost anywhere between Rs.9-15 lakh per annum because a domestic tournament will cost Rs.50,000-60,000 a week and even as a beginner you will play 5-6 tournaments a year,' says Supriya Devgun, Founder of Badminton Gurukul, an academy co-founded with badminton legend Pullela Gopichand, that aims to bring affordable training to young aspirants.'Before reaching the elite bracket, players typically incur substantial travel and accommodation expenses throughout the year to participate in international level chess tournaments which are necessary to gain ratings,' says Sandeep Singhal, Managing Partner, WestBridge Capital, and Cofounder, WestBridge Anand Chess Academy, the brainchild of chess whiz Viswanathan Anand and Viswan, mom to 18-year-old Omkar Vinod—Kerala's No.1 squash player and currently ranked 18 in India—has tried to bring down the travel costs to Rs.15,000-20,000 per tournament. 'We either try to stay with relatives or he travels alone to cut down the expenses,' says the Bengaluru-based startup owner, who took upon herself the task of navigating his sporting career after her husband's demise in Warrier, meanwhile, has estimated a cost of Rs.25 lakh a year from this year onwards as his 16-year-old son, Jaitirth, the South Zone No.1 golf player, readies to shift gears. 'He is playing the junior national circuit and is aiming to turn pro in four years' time. Last year, he played 10 tournaments and this number is going to double now,' says the Bengaluru-based father who was an NRI for 14 years and returned to India only in 2024. JAITIRTHWARRIER, 16 yrs Bengaluru Parents: Ranjit & Aparna, 53 & 50 yrs CAREER GOALBecome a professional golfer. CAREER TIMELINE 2015Started playing at 6 years in Lagos, Nigeria. Jan 2024 Started competitive golf. 2024 Ranked No. 1 in South Zone 2025 Playing junior national circuit. Aims to turn pro in four years. EXPENSE TIMELINE Current expenseRs.13 lakh a year (coaching, equipment, travel, nutrition, tournament fees, fitness, mental coaching) 2025 onwards (estimated) Rs.25 lakh a year FINANCIAL PLANNING Goal estimate in 2015Rs.4-5 crore Current corpus Rs.6 crore (for education & golf for 3-5 years) Invested in: Real estate, stocks, mutual funds, fixed deposits, insurance plans, gold. How much does training cost at different stages? Figures are indicative and may vary as per sport and talent. In elite stage, costs are cut if the child gets reward money, sponsors or endorsements. If child is also studying as a back-up plan, it may require an additional Rs.10-20 lakh at 17-18 professional coaching fee can range from Rs.10,000-30,000 a month, depending on the child's talent and the academy or coach's experience, equipment cost varies according to the sport. 'Golf or shooting would be 3-4 times more expensive because the equipment and training costs are higher, with a single golf class costing around Rs.2,000,' says Devgun. For 3-4 times a week, it could add up to Rs.30,000 a month only in coaching fee for professional coaching in cricket can also be Rs.2,000-3,000 an hour and the total cost could go up to Rs.40,000-50,000 a month. 'Cricket, like golf, is a rich man's sport now and needs money if one is serious about turning professional,' says Farhad Daruwala, Founder of Rising Star Cricket Academy in Mumbai, that trains under-privileged kids.'Critically, inflation of sports equipment tends to be much higher than general inflation and imported items are more expensive. This means a 10% general inflation could translate to 15-20% for sports gear,' says Atul Shinghal, Founder & CEO, Scripbox. So a tennis racket can easily come for Rs.20,000 today, while the cost of shooting equipment or golf clubs can run into lakhs. 'Swimming costumes at competitive level can cost Rs.35,000-40,000 and can be worn only 8-9 times,' says Jhunjhunwala, whose daughter had earlier reached national school level championships in while money is needed at this stage, there are few or virtually no sponsors till the time the kid reaches the elite stage and gains recognition or wins tournaments. 'Nobody wants to invest in a non-achiever; only known talents fit the bill. While CSR funds, scholarships and sponsorships are offered to the top talent, it is actually needed by the upcoming talent. If costs are to be brought down, the answer is to integrate sports with education,' suggests government does provide funds to the Sports Authority of India (SAI) and the National Sports Development Fund (NSDF) for various initiatives and schemes, and some non-banking financial corporations like Avanse Financial Services offer loans as well, but bank loans are not easy to come by. 'The parents of India's Saina Nehwal, former world number one badminton player, famously took loans for her early badminton career, as individual sports are largely self-funded by parents until elite success,' agrees Shinghal. Elite stage As the child progresses and begins to win tournaments and get ranked at the domestic or international level, the costs surge even further. 'At the elite level, training remains the most significant area of investment, including personalised coaching, access to top-tier trainers, game preparation support, and advanced analytical tools. Travel is another major expense given the international nature of toplevel chess tournaments,' says WestBridge's international tournaments easily costing Rs.2-3 lakh per tour, including air fare and accommodation, the overall cost of training can jump to Rs.20-30 lakh a year. This involves advanced, personalised and intensified coaching, more rigorous physical and mental fitness and physio, and a rise in the number of tournaments to participate good news is that at this stage, some income and financial support start to come in in the form of prize money from wins, sponsorships, CSR funds (corporate social responsibility funds), scholarships, or even public sector jobs. This brings down the costs and eases the financial burden. This is the reason Viswan is planning to start looking for a sponsor from next year as Vinod's all-India ranking has shot up from 235 in 2023 to 18 now, and the reason Jhunjhunwala is looking for colleges that offer scholarships for tennis training for Krishnav. Time for a back-up plan Despite Devgun's assertion that a back-up plan takes away from the focus of reaching top levels, most parents prefer to reach for the safety net of education while allowing their kids to pursue sports. 'Without early financial planning and a strong Plan B, the journey can become financially and emotionally draining,' says Sumit Duseja, Co-founder and CEO, Truemind Capital and Sebi-registered investment adviser: 'There is a very low chance to be a successful sportsperson in India. Hence, a Plan B should always be in place as a fall-back option that supports the child in case success is not achieved as desired.''One needs to have a back-up plan because there is no guarantee in sports. I have given Vinod a time limit of five years to prove himself. He, too, isn't yet sure whether he wants to be a professional squash player or go in an allied field like sports science,' says Viswan. 'Krishnav is excelling in studies, scoring 97.8% in his ICSE class 10 exams last year. As long as he says his studies will not be affected, I'll do everything he wants to do in tennis. Besides, what will he do after 10 years given the short career span? If he doesn't reach the top level, he will opt for engineering in data science or AI,' says Jhunjhunwala. KRISHNAV JHUNJHUNWALA,15 yrs,Kolkata Parents: Ashish & Nidhi, 48 & 46 yrs CAREER GOALProfessional tennis player/engineering. CAREER TIMELINE 2016-17Started playing at 6-7 years. 2020 Professional training and coaching. 2024 Won AITA tournament in Sonepat. Reached AITA semifinals in Kolkata. 2025 West Bengal U-16 ranked No. 5, U-18 ranked No. 7. EXPENSE TIMELINE Initial expenseRs.50,000-60,000 a year Current expense Rs.3-4 lakh a year (coaching, equipment, travel, nutrition, travel, tournament fees, fitness) FINANCIAL PLANNING Goal estimate in 2015Rs.15-20 lakh Current corpus Rs.20-25 lakh Invested in: Kisan Vikas Patra, with varying maturities for liquidity; stocks and mutual funds. NAVEEN GOGIAFOUNDER & MANAGING DIRECTOR, CREED CAPITAL Note:'Pursuing a sports career in India involves high risk, with no guaranteed returns. The financial burden is also steep and front-loaded.' Education vs sports:Why financial strategy differs It's also the reason Menon is spending Rs.30-35 lakh a year, combining Aymaan's football training with his graduation in sports science from one of the top European universities in Spain, Universidad Europea. Warrier too has kept `6 crore corpus for Jaitirth for the next 3-5 years, either for education or golf. He also insists on a four-year degree course, and possibly post-graduation as well. 'If he doesn't reach the required heights, he can get into sports psychology or sports management. The four years will also give him the time to prove himself in golf,' he says.'From 18-21, the child either turns pro or pursues college sports abroad, and international education may require Rs.25-50 lakh. By 22-30, the focus shifts to career transition. Successful athletes need long-term planning and passive income strategies; others may use a pre-built Plan B fund to pivot to alternate careers,' says Gogia. Financial planning Financial planning for a sports career is different from that for education goals for various reasons (see Education vs sports). For one, large sums of money can be required at an early age and staggered across a longer period. The higher risk, uncertainty and shorter career spans also call for a unique multi-pronged approach.'Higher education can be a preplanned activity, with the knowledge of approximate cost structure and when the funds will be required. Sports is a skill-based career and one is not aware of the level of competence the child will achieve. These are unknowns for which you have to plan a higher budget, and the plan needs to evolve with skill development,' says Dinesh Rohira, Founder & CEO, requires phased, proactive planning that balances long-term growth, short-term liquidity, and flexibility,' says Gogia. So you need to plan for short-, medium- and longterm expenses in varying instruments. 'It also needs to be slightly open-ended and a secondary budget should also be planned for triggers and sudden changes,' says Rohira. OMKAR VINOD18 yrs Bengaluru Parent: Sandhya Viswan, 49 yrs CAREER GOALProfessional squash player or aligned field in sports. CAREER TIMELINE 2016Started at 9 years, played tournaments. 2018 Ranked No. 1 in Kerala. 2023 Started professional training and being ranked in U-19 category. 2025 Has been Kerala No. 1 since 2018 & all-India No. 18 in U-19. EXPENSE TIMELINE Initial expenseRs.50,000 a year Current expense Rs.4-5 lakh a year (coaching, equipment, travel, nutrition, tournament fees, fitness) FINANCIAL PLANNING Goal estimate in 2012Rs.25 lakh Current corpus Rs.50 lakh (includes other brother's Rs.25 lakh who doesn't need it) Invested in: Traditional insurance plans. 'In the first phase (5-10 years), moderate but consistent investment in basic coaching and equipment is needed; second phase (11-16 years) calls for high, rapidly increasing costs for advanced coaching, tournaments, nutrition and physio; the third phase of elite training (17-21 years) sees peak expenditure for national/international tournaments, professional academies and sports psychologists; and finally, after 21 years, there is potential income generation or investment for an alternative education/career path,' says a first step, start SIPs in equity funds (large, flexi, or multi cap) at the earliest in order to build a large corpus for the long term, which can be used for higher expenses or Plan B needs. You can also invest in the PPF for tax-free payouts and safety.'For this core corpus, I invested nearly 50% in real estate, and the remaining in multiple assets, including stocks, mutual funds, insurance and gold,' says Warrier. 'It's extremely important to hire a financial planner and have a written plan for this goal. I invested in multiple assets, but am currently relying primarily on mutual funds,' says Menon. For medium-term requirements (3-7 year horizon), start SIPs in balanced advantage funds or fixed deposits of varying maturities that can be broken without incurring penalties as and when the need arises. 'I invested in a large number of Post Office Kisan Vikas Patra with small sums and varying maturities for both my children's sports expenses in the second phase,' says Jhunjhunwala. Next, keep an operational buffer for short-term (1-3 year horizon) expenses like equipment and gear purchase or domestic tournaments, investing in liquid, arbitrage or ultra short-duration funds, or even sweep-in fixed deposits. SUPRIYA DEVGUNFOUNDER & MD, BADMINTON GURUKUL Note:'While CSR funds, scholarships and sponsorships are offered to the top talent, it's actually needed by the upcoming talent.' Given the high risk of injury, it is also crucial to have Rs.50 lakh-1 crore medical and personal accident insurance.'If earnings begin, consider setting up a trust or HUF for tax-efficient structuring. In the career phase (after 21 years), preserve wealth with a diversified mix of equity, debt, and REITs, and create passive income through annuities or systematic withdrawals. Throughout, avoid over-locking your capital; in sports, flexibility is just as important as performance,' says Gogia.'It's also important to review the plan on a regular basis, in six months or one year, depending on the career progress of the child,' advises Rohira. Long-term investment For core corpusStart saving for the child's goal, be it sport or education, at birth. This will help build a large corpus for expensive, professional training if he chooses a sport. Or, if the sports career doesn't work out, it can be used for education in aligned fields later. Where to invest Large-cap, multi-cap or flexi-cap equity mutual funds; PPF. Medium-term investment For professional trainingIn the second phase of his training between 11 and 16 years, expenses will suddenly spiral as he moves from casual to professional training and large sums will be needed for coaching, equipment and tours for tournaments. Where to invest Balanced advantage and equity savings funds, or medium-term fixed deposits for staggered withdrawals. Short-term investment For operational expenses You will need some funds throughout his sporting journey for equipment and gear, fitness, travel and coaching fees. Where to invest Liquid or ultra short-duration funds, or sweep-in fixed deposits. No trending terms available.
Mint
24 minutes ago
- Mint
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This technical pattern suggests that there could be a temporary retracement in the stock's price, possibly to around ₹ 845. Currently, the stock is holding a crucial support level at ₹ 825. Given this scenario, there is potential for the stock to rebound towards the ₹ 875 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at ₹ 845 to manage risk effectively. The target price for this trade is ₹ 875, reflecting the anticipated upward movement based on the identified technical. 6. Aditya Birla Fashion and Retail Ltd.—Koothupalakkal recommends buying Aditya Birla Fashion and Retail, or ABREL, at around ₹ 2397 for a target price of ₹ 2500, keeping stop loss at ₹ 2355. The stock has indicated a rising channel pattern on the daily chart and is currently taking support near the lower band of the channel at the ₹ 2330 zone, which is also where the 200-period MA lies. It has indicated a bullish candle formation with significant volume participation to anticipate for further rise in the coming sessions. The RSI has cooled off from the highly overbought zone, and with a positive trend reversal indicated, it has signalled a buy, and further rise with another round of momentum is anticipated. With the chart technically looking good, we suggest buying the stock. 7. Bharat Dynamics Ltd.—Koothupalakkal recommends buying BHARAT DYNAMICS at around ₹ 1890 for a target price of ₹ 1980, keeping Stop loss: at ₹ 1855. The stock has been in a strong uptrend, and after a short period of gradual correction, it has once again indicated a bullish candle formation on the daily chart, taking with it significant volume participation to improve the bias once again, and we can anticipate another round of fresh upward movement in the coming sessions. The RSI has cooled off from the overbought zone and is currently well-positioned with a positive trend reversal indicated to signal a buy. With the chart technically looking attractive, we suggest buying the stock. 8. NOCIL Ltd.—Koothupalakkal recommends buying NOCIL at around ₹ 194.70 for a target price of ₹ 210, keeping Stop loss at ₹ 189 The stock has overall indicated a rising channel pattern on the daily chart, and recently taking support near the 180 zone has indicated a revival to witness a decent pullback moving past the 50EMA at the 190 level to improve the bias. The RSI is well placed with strength indicated, signalling a buy with much upside potential from the current rate to carry on with the positive move further ahead. With the chart looking good, we suggest buying the stock for an upside target of ₹ 210 level, keeping the stop loss at ₹ 189 level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
