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Uttam Galva Steels Limited (UTTAMSTL) is an Indian steel company listed on the National Stock Exchange of India (NSE). The company manufactures and sells high-quality flat steel products such as Hot Rolled and Cold Rolled Coils, Galvanized Coils, Color Coated Coils, and Sheets.
Uttam Galva Steels Limited was established in 1985 and remained headquartered in Mumbai, India. The company operates a state-of-the-art manufacturing facility in Khopoli, Maharashtra, with an installed capacity of 1.2 million tonnes annually.
The shares of UTTAMSTL remain actively traded on the NSE, and the market capitalization of the company as on April 2023 is over Rs 700 crore. Its shares remain included in several indices, including NSE 500 and NSE Mid-Cap 100.
It’s worth noting that as an AI language model, my answers are based solely on publicly available information and may not reflect the company’s current state or its stock performance. Investors should always do their research before making an investment decision.
Information about NSE
The National Stock Exchange of India (NSE) is one of the major stock exchanges in India. It was established in 1992 and remained based in Mumbai. NSE provides a platform for trading in equity, derivatives, mutual funds, and debt securities.
NSE is known for its advanced technology infrastructure, which allows fast and efficient trading. It also has a robust regulatory framework to ensure transparency and fairness in the market.
Some of the popular indices of the NSE include Nifty 50, a benchmark index of the top 50 companies listed on the NSE, and Nifty Bank, which tracks the performance of the banking sector.
Investors can get factual information about stocks listed on NSE from various sources, including the NSE website, financial news websites, and stock market apps. They can also trade on NSE through registered brokers and trading platforms.
Nse: uttamstl – Uttam Galva Steels Limited Insiders Have Been Selling Shares
We often see insiders buying shares of companies that have performed well over time. The flip side is that insiders have had more than a few instances of stock dumping before periods of poor performance. So before you buy or sell Uttam Galva Steels Limited, you might want to know what insiders are buying or selling.
What Is Insider Selling?
It is common to see company insiders, such as board members, trading in company stock occasionally. However, such insiders must disclose their trading activities and not trade on inside information.
We do not believe that shareholders should only observe insider trading. But keeping an eye on what insiders are doing makes perfect sense. For example, a Columbia University study found that ‘insiders are more likely to buy their company’s shares on the open market when the firm is about to disclose new contracts with customers and suppliers.’
Last 12 Months Insider Transactions in Uttam Galva Steels
While no specific insider trading has surfaced, we can see overall trading.
You can see the previous year’s insider trading (by individuals). If you click the chart, you can see all individual transactions, including share price, person, and date!
If you prefer to buy stocks that insiders are buying rather than selling, you might like this free list of companies.
Insider Ownership of Uttam Galva Steels
I like to see how many shares insiders own in a company, which helps me gauge their engagement with insiders. High insider ownership often makes the company’s leadership more concerned with the interests of the shareholders. As per our data, insiders hold 6.9% shares of Uttam Galva Steels, worth around ₹98m. We note, however, that insiders can have an indirect interest through a private company or other corporate structure. We generally like the high level of insider ownership.
So What Does This Data Suggest About Uttam Galva Steels Insiders?
It doesn’t mean there was no insider trading in Uttam Galva Steels shares in the last quarter. We are not highly motivated by insider trading in Uttam Galva Steels, and a modest level of internal ownership is at least some comfort. Along with insider trading, I recommend checking whether Uttam Galva Steels’ earnings are rising. This free chart of historical earnings and earnings should make it easy.
Uttam Value Steels’ delisting leaves investors in a lurch
The saga of retail equity investors has been marred by regulatory actions and bankruptcy cases as Uttam Value Steels is the latest to join the infamous list.
Trade investors have been at the receiving end of all the regulatory action. Previous this month, the RBI, in an unprecedented move, wrote off the entire equity of Lakshmi Vilas Bank, leaving retail investors disappointed.
In June, Liberty House acquired Adhyayan Metaliks under the Insolvency and Bankruptcy Code, bought the outstanding stake at ₹0.09849500 per share, and spent only ₹60 lacks to acquire the shares.
Uttam Value Steels will remain delisted from both exchanges from Tuesday, according to the resolution plan by a consortium led by US-based hedge fund CarVal Investors.
The company said that the entire issued, subscribed, and paid-up share capital, including equity and preference shares as of the date of NCLT’s order, will remain canceled without payment. As of the June quarter, the public shareholding is 54 percent.
The resolution professional had accepted claims of Rs 7,190 crore for both companies. After several extensions of the deadline under the IBC, the ₹2,654-crore resolution plan submitted by a consortium of Karwal Investors and Nithya Capital Resources Advisors LLP was approved in May this year.
However, five operational creditors, who had a 99 percent haircut, moved the NCLAT against the resolution plan’s approval. In September, the Appellate Tribunal overruled the objections raised and gave the final approval.
Investors of Attam Value Steels were waiting to complete the entire bankruptcy proceedings, hoping that the company would remain listed even after the new promoter took over, said Sanjay Mathur, an investor.
Unfortunately, resolution professionals keep the details of the approved resolution plan a secret until the ax remains thrown around the neck of the investors, he said.
Nadia Sarguroh, the senior associate of MZM Legal. Said that retail investors have no role in the corporate insolvency resolution process of the debtor company under the IBC. It remains clearly explained under sections 30 and 31 of IBC and delisting regulations of SEBI for companies under IBC.