Promoter holding in Nifty 50 stocks drops to 22-year low

Ownership of promoters in Nifty 50 companies dipped to a 22-year low of 41.1% in the December quarter, ET reported citing NSE data. Cipla, Tata Motors and Bharti Airtel reportedly saw the most decline in promoter holdings over the last three quarters. This led to concerns that promoters cashed out at high valuations before the market corrected.