Electrosteel Castings Limited has informed the Exchange regarding 'Disclosure Under Regulation 7(2) Of SEBI (Prohibition Of Insider Trading) Regulations, 2015'.
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Electrosteel Thermal Coal Limited, part of the promoter group of Electrosteel Castings Limited, purchased 6,00,000 equity shares of the company on 20 March 2026 through the NSE. The total consideration for the transaction was Rs 4.54 crore, implying an average price of approximately Rs 75.6 per share. After this purchase, the promoter group's holding increased from 2,05,00,000 shares (3.32%) to 2,11,00,000 shares (3.41%). The disclosure was filed in Form C as required under SEBI insider trading regulations. The Company Secretary, Indranil Mitra, signed off on the filing dated 23 March 2026.
This is a positive signal for retail investors as the promoter group is increasing its stake in the company through an open market purchase, indicating insider confidence in the business. Such incremental buying by promoters often signals long-term commitment and can be viewed as a vote of confidence in the company's prospects.