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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