Electrosteel Castings, Gallantt Ispat, IOL Chemicals stocks surge up to 8% on promoter stake buying; check details

Shares of Electrosteel Castings, Gallantt Ispat, and IOL Chemicals surged during the intraday trading session on Friday, March 20, 2026, after the promoters of the respective companies increased their stakeholding in the firm, according to exchange filing data.

The stock of all three companies was trading in the green zone after the stock surged to hit their intraday high levels soon after the opening bell on Friday’s market.

₹143 crore stake purchase

NSE filings data showed that Electrosteel Castings’ promoter company, Electrosteel Thermal Coal Limited, purchased a total of 2,05,00,000 or 2.05 crore equity shares of its subsidiary firm for a total cost of more than ₹143.74 crore. This stake acquisition represents around 3.32% of the total shareholding of the company.

Electrosteel Castings shares surged 8.2% to hit the intraday high of ₹77.89 during the early market session on Thursday, compared to ₹71.94 at the previous market close, NSE data showed. At 11:59 a.m., the shares of the company were trading 4.68% higher at ₹75.31, compared to the previous market close.

Electrosteel Castings stock is trading 5.43% higher over the last five market sessions, and has gained 6.92% in the last one-month period, according to the NSE data.

Promoter buys 16.2% of IOL Chemicals

IOL Chemicals and Pharmaceuticals’ promoter company, NCVI Enterprises Ltd, purchased 16.20% stake, which represents 4,75,50,695 equity shares of the subsidiary firm, through a large transaction.

IOL Chemicals shares surged 4.2% to the day’s high of ₹75.75 in the early market session on Friday, compared to ₹72.65 at the previous stock market close, according to the NSE data. As of 12:04 a.m., IOL Chemicals shares were trading 1.94% higher at ₹74.06 during the intraday trading session.

Shares of the company have gained 8.54% in the last five sessions on the stock market, and are trading 1.88% higher on a one-month basis, as per the exchange data.

Gallantt Ispat’s stake deal

Gallantt Ispat’s promoter group entity, Chandra Prakash Agarwal HUF, sold 54,18,696 equity shares, which represents 2.245% stakehodling of the company. These shares were purchased by Chandra Prakash Agarwal, initiating a transfer of shares from a promoter group entity to a promoter.

Shares of Gallantt Ispat hit their intraday high level of ₹563.05 after surging 2.7% on March 20, compared to ₹548.15 at the previous stock market close, as per the exchange data. The company’s stock was trading 1.49% higher at ₹556.30 as of 12:06 p.m. on Friday.

Gallantt Ispat stock was trading 2.98% higher over the last five market sessions, but the shares have lost 2.10% in the last month.