Promoters, for their part, are seizing on the opportunity, executing stake sales to make massive gains out of the high valuations. Several large stake sales in recent months suggest insiders are using elevated prices to pare holdings, Kotak believes. In several cases, like that in Whirlpool, the Indian subsidiaries of global firms command a higher valuation as compared to the parent. This disparity has also prompted promoters to offload stake to make stellar gains.
