BHEL Sees FII Holding Jump In June Quarter, LIC Trims Stake

Bharat Heavy Electricals Ltd. (BHEL) filed its latest shareholding data with the exchanges on Tuesday after market close.

What Happened: As per the filing, foreign portfolio investors raised their stakes in the company during the April-June period. As of June 30, 2024, foreign portfolio investors own 31.67 crore shares or a 9.10% stake in the company. They held around 8.76% stake in the company at the end of the March quarter.

The government of Singapore emerged as a major investor in the category. As per the latest data, the government of Singapore owns a 1.34% stake in the PSU.

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On the other hand, India’s biggest insurer LIC trimmed its stake in the company. The insurance giant currently holds a 7.33% stake in the company. At the end of March 30, 2024, LIC held an 8.18% stake in the company. Nippon India Small Cap Fund also cut its stake in the company. It now holds around 1.28% stake in the company, compared to the 1.33% stake it held at the end of March 2024.

Last week, shares of the company rocketed after reports suggested that the government has urged power companies to make a substantial investment in equipment. The proposed investment, amounting to $33 billion (₹2.75 lakh crore), is aimed at boosting the country's coal power output for this year.

Price Action: BHEL’s share price was down 0.46% to trade at ₹328 on Wednesday afternoon.

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