As most of the listed companies in India released their shareholding data, we reviewed the companies that foreign institutional investors (FII) have increased and reduced their shareholdings during the September quarter.
FIIs have been on a selling spree in Indian stocks recently. In October, they sold ₹1.08 lakh crore worth of Indian equity so far. The benchmark Nifty 50 index has fallen 5.87% in the month so far.
FII's confidence has also been reflected in the stock price as most of the stocks where FIIs have increased their shareholding have seen share price surge in the same period as well and vice versa has also happened. According to data compiled by Primeinfobase, here are the stocks where FIIs increased their shareholding and reduced their shareholding in the September quarter.
ITC
FIIs bought ₹47,908.76 crore worth of shares in ITC in the September quarter, increasing their shareholding to ₹2.62 lakh crore in the company. From June to September, ITC's shares have gained by 21%.
Bharti Airtel
The telecom major, which boasts Google among its foreign investors, saw FIIs increasing their shareholding to ₹2.60 crore in the quarter. FIIs invested ₹44,569.28 crore in the quarter. The telecom's stock rose 18% in the same period.
Infosys
FIIs bought ₹ 42,945.68 crore worth of Infosys's shares in the September quarter. This took the FII ownership in the stock to ₹2.34 lakh crore. The IT major's stock had risen 19% in the quarter.
Zomato
Zomato witnessed FIIs buying ₹ 31,042.43 crore in the quarter. This took the total FII ownership in the stock to ₹1.26 lakh crore. The food delivery company's shares had soared 36% in the September quarter.
HDFC Bank
India's leading bank, HDFC Bank also saw FIIs increasing stake in the September quarter. FIIs bought ₹ 26,475.99 crore worth of shares in the private lender which took their total ownership to ₹5.49 lakh crore. HDFC Bank's shares gained 2.87% in the September quarter.
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| Company Name | Market Cap | FII Holdings as on June 2024 | FII Holdings as of Sept 2024 | Increase in Holding | Change in Stock Price In Sept Quarter (%) |
|---|---|---|---|---|---|
| ITC LTD. | 6,03,241.49 | 2,14,604.42 | 2,62,585.18 | 47,980.76 | 21.95 |
| BHARTI AIRTEL LTD. | 10,13,834.66 | 2,16,310.90 | 2,60,880.19 | 44,569.28 | 18.39 |
| INFOSYS LTD. | 7,73,150.50 | 1,91,489.34 | 2,34,435.02 | 42,945.68 | 19.71 |
| ZOMATO LTD. | 2,24,216.44 | 95,794.42 | 1,26,836.85 | 31,042.43 | 36.27 |
| HDFC BANK LTD. | 13,30,349.89 | 5,22,581.14 | 5,49,057.13 | 26,475.99 | 2.87 |
| ICICI BANK LTD. | 8,84,615.36 | 3,08,909.36 | 3,34,440.84 | 25,531.48 | 6.12 |
| TATA CONSULTANCY SERVICES LTD. | 14,68,057.10 | 1,74,538.31 | 1,95,473.46 | 20,935.15 | 9.33 |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 4,46,372.28 | 62,854.57 | 83,289.70 | 20,435.12 | 26.69 |
| HCL TECHNOLOGIES LTD. | 5,02,665.75 | 72,105.12 | 90,992.78 | 18,887.65 | 24.69 |
| TRENT LTD. | 2,61,690.32 | 54,281.92 | 71,677.83 | 17,395.91 | 38.23 |
Other stocks that saw FIIs increasing their ownership are ICICI Bank, Tata Consultancy Services, Sun Pharmaceutical Industries, HCL Technologies and Trent.
Now we will see the companies that saw FIIs reducing stake.
Reliance Industries
FIIs reduced their stake in India's most valuable company in the June to September quarter. FIIs sold ₹33,661.46 crore in the quarter which took their shareholding to ₹4.15 lakh crore. Reliance Industries' stock fell 5.67% in the September quarter.
Axis Bank
Axis Bank also saw FIIs reducing stakes in the private sector lender. FIIs offloaded ₹10,907.11 crore worth of shares in the company in the September quarter. FII ownership in Axis Bank reached ₹1.88 lakh crore at the end of September 2024. The bank's shares declined 2.61% in the September quarter.
State Bank of India
State Bank of India, India's leading public sector bank also saw a reduction in FII shareholding in the September quarter. FIIs sold ₹9,128.22 crore in the quarter, taking their ownership to ₹74,486.684 crore in the quarter. SBI's shares fell 7.19% in the quarter.
Adani Power
FIIs reduced their stake in Adani Power by ₹8,783.56 crore shares in the September quarter. FII ownership in Adani Power reached ₹32,042.06 crore as of September 2024. The Adani Group stock nosedived 8% in the September quarter.
Macrotech Developers
FIIs sold ₹6343.43 crore worth of Macrotech Developers shares in the September quarter. FIIs trimmed their position in Macrotech Developers to ₹29,734.14 crore in the September quarter. Macrotech Developers' stock had fallen 17% in the September quarter.
| Company Name | Market Cap. | FII Holdings as of June 2024 | FII Holdings as of Sept 2024 | Decrease in Holding | Change in Stock Price In Sept Quarter (%) |
|---|---|---|---|---|---|
| RELIANCE INDUSTRIES LTD. | 17,96,907.44 | 4,49,501.27 | 4,15,839.81 | -33,661.46 | -5.67 |
| AXIS BANK LTD. | 3,67,896.21 | 1,99,288.16 | 1,88,381.05 | -10,907.11 | -2.61 |
| STATE BANK OF INDIA | 6,96,968.20 | 83,615.06 | 74,486.84 | -9,128.22 | -7.19 |
| ADANI POWER LTD. | 2,28,446.49 | 40,825.61 | 32,042.06 | -8,783.56 | -8.69 |
| MACROTECH DEVELOPERS LTD. | 1,07,719.85 | 36,168.57 | 29,734.14 | -6,434.43 | -17.90 |
| VODAFONE IDEA LTD. | 53,390.06 | 15,389.92 | 9,160.74 | -6,229.19 | -42.09 |
| HINDUSTAN AERONAUTICS LTD. | 2,78,584.91 | 41,119.88 | 35,039.29 | -6,080.58 | -16.03 |
| VARUN BEVERAGES LTD. | 1,98,559.16 | 53,622.45 | 47,627.29 | -5,995.16 | -6.98 |
| INDUSIND BANK LTD. | 81,139.92 | 40,354.49 | 35,464.03 | -4,890.46 | -1.15 |
| BANK OF BARODA | 1,23,864.47 | 16,300.36 | 12,648.54 | -3,651.82 | -10.02 |
Other companies where FIIs reduced their stake are Vodafone Idea, Hindustan Aeronautics, Varun Beverages, IndusInd Bank and Bank of Baroda.
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