The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bhagwati Prasad Jalan, Bhagwati Jalan and Sons ....
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Four members of the promoter group — Bhagwati Prasad Jalan, Bhagwati Prasad Jalan & Sons HUF, Niraj Jalan, and Pankaj Jalan — have together acquired additional shares of Nilachal Refractories Ltd through off-market transactions dated 10.03.2023. Bhagwati Prasad Jalan's stake rose from 2.70% to 3.51%, Niraj Jalan's from 3.14% to 3.88%, Pankaj Jalan's from 1.80% to about 3.27%, and the HUF's holding doubled from 0.37% to 0.74%. Combined promoter group holding increased by roughly 3 percentage points to about 11.4% of the company. The disclosure is filed under Regulation 29(2) of SEBI Takeover Regulations because the aggregate change exceeds 2% of share capital.
This is a confidence-building signal — promoter group members are increasing their personal holdings rather than selling, suggesting they view the stock as undervalued. Off-market deals among promoter entities typically signal internal restructuring of holdings rather than new outside buying, so direct stock-price impact may be limited, but the trend is positive for shareholder sentiment.