Promoter sold 200000 shares today as per screener feed. They have been selling for a long time (BSE disclosures). Any clue why?
As @Ajay_Kumar_Kommaraju has mentioned, this is a well-known fact about the company. Promoter holding has declined from 53.52% in Jun 2020 to 49.04% in Jun 2022.
Most of this is from Prashant Jhawar (CEO) controlled entities like Peterhouse Investments.
One view is that these sales are necessitated to service hard cash requirements of a plethora of business entities under Prashant Jhawar, including his London base, and it is likely to continue.
On the other side, Rajeev Jhawar (MD) lead consortium has increased its shares slowly in the company.
Edit [30-Dec-2022]: Included screenshot from Screener showing the decline of shareholding from Peterhouse Investments Limited
Source: Usha Martin Stock Story and Screener
Disclaimer: Not Invested