Change in promoter stake

Many investors track the change in promoter holding. A significant rise in promoter holding may mean that the promoter is bullish about his company. On the other hand, a significant fall in promoter stake is taken as a negative development. However, while tracking the change in promoter stake, one should also be mindful that promoter holdings can be impacted by corporate actions also. For instance, a rights issue, a merger, a reclassification of promoter can all cause the reported promoter holding to change. Hence, dig deeper into the following companies to make sense of the change in promoter stake.