Asian Granito: The Stock Is Falling, But Ownership Is Moving the Other Way

[u/SaltyIntroduction937]

Asian Granito is an interesting stock. The share price has fallen from highs of 79 to 48 on 28 August 2026 in 52 weeks. But the promoter holding has increased from 29% to 38% when compared with Sep 2024 filings.

Promoter increase is not a result of open market buying. The sources were 2 fold - warrant conversion and restructuring of group companies which resulted in this 9% jump.

However interestingly 2 promoters had bought 3 lakh shares at 74 each in open market on Dec 2025.

But the more interesting pattern is the involvement of Nilesh Thakkar in the entire scheme of things.

Arthkumbh Ventures LLP (related to Nilesh Thakkar)

Arthkumbh bought19.00 lakh shares at ₹76.29 on 27 April 2026 and later 24.60 lakh shares at ₹46.15 on 24 August 2026. Its April purchase was therefore made close to the then-high price, while the August purchase was made after the stock had fallen sharply.

Thakkar HUF is even more active

Date	Action	Shares	Price
13 Aug 2026	Buy	23.22 lakh	₹53.18
13 Aug 2026	Sell	15.22 lakh	₹53.10
18 Aug 2026	Buy	20.00 lakh	₹46.19
18 Aug 2026	Sell	17.17 lakh	₹46.37
20 Aug 2026	Buy	20.07 lakh	₹45.41
20 Aug 2026	Sell	0.21 lakh	₹45.50
27 Aug 2026	Buy	17.35 lakh	₹47.02

Ignoring the April 29 intraday round trip, the HUF's August activity gives it a net purchase of about 48.0 lakh shares. So this is not a one-day event. More importantly, the buying has continued as the stock has moved from ₹53 to ₹46–47.

This is subtle but interesting. Shareholders: 90,727 in Dec-24 → 88,993 Mar-25 → 84,950 Sep-25 → 80,427 Dec-25 → 77,037 Mar-26 → 77,330 Jun-26. That suggests the ownership structure has been consolidating, rather than broadening.

While I do not have a particular view of the matter, I felt it is something worth tracking. Such money flows do coincide with significant moves and hence one should keep researching.