​These 5 midcaps rally up to 60% in a year even as promoters slash stake​

ET Markets has identified 10 midcap stocks in which promoters have consistently reduced stakes over the past three quarters of FY23. However, the stock prices have not been affected and, in fact, the majority of them have shown positive returns over the last year. Five stocks have even gained between 20 and 60% during the period. (Data Source: ACE Equity).

It's worth noting that when a promoter reduces stake, it can have various implications for the company and its shareholders, potentially impacting investor sentiment and leading to changes in ownership structure. There could be several reasons behind a promoter choosing to reduce stake in a company, including diversification, capital requirements, profit realization, and regulatory obligations.