Street signs: Insiders ride the market wave, L&T buyback, and more

Troubles in most of the big banks such as ICICI Bank, State Bank of India and Axis Bank may have turned off investors, but they seem to be quite enthusiastic about the prospects of smaller banks

Insiders ride the market wave

Share sales by promoters and insiders are on the rise amid the benchmark indices scaling new highs. Last week, Baring Private Equity and BG Group offloaded shares worth Rs 11 billion each in Hexaware and Mahanagar Gas, respectively. Market observers say the number of block and bulk deal transactions featuring insiders are on the rise. “We have seen the number of insider exits go up. It is probably a sign of the markets getting overheated,” said a broker. In the past two months, the benchmark Sensex has rallied 10 per cent. 

Samie Modak

Funds eye smaller banks

Troubles in