HDFC Bank, Reliance Industries and ICICI Bank were the top holdings for FPIs and DIIs as of March 31, 2023. Equitas Small Finance Bank (21.59%), Sona BLW Precision Forgings (13.4%) and Marksans Pharma (10.88%) are the companies where FPIs increased their holdings the most in percentage terms. Companies which saw the highest increase in DII holdings in percentage terms include Vodafone Idea (32.45%), Equitas Small Finance Bank (27.62%) and Kirloskar Oil Engines (13.29%).
Promoters, foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) increased their stake in 18 companies during the quarter under review. These include Bajaj Holdings & Investment, Shriram Finance, Deepak Nitrite, Natco Pharma, NCC, Eclerx Services, Jindal Saw, Anant Raj, Hikal, Dhanuka Agritech, Jai Corp, PSP Projects, IOL Chemicals & Pharmaceuticals, Barbeque-Nation Hospitality, Cosmo First, RPG Life Sciences, Pix Transmissions and Linc, data from PRIME Infobase show.
FPIs raised their stake in 609 companies, which saw an average stock price drop of 6.1%. DIIs raised their holding in 529 firms, which saw an average price decline of 6.2%. Both these categories of investors decreased their holding in 714 and 438 companies, respectively. Holding of mutual funds went up in 417 companies. The average stock price of these companies in the same period decreased by 6.08%. Holding of mutual funds went down in 290 companies listed on the NSE.
The share of private promoters in companies listed on the NSE decreased to a three-year low of 41.97% as on March 31, 2023 from 43.25% as on December 31, 2022. Over a 13-year period, private promoter share steadily increased from 33.60% on June 30, 2009. While Indian private promoters’ share went up from 26.44% to 33.79% over the last 13 years, foreign promoters’ share grew from 7.16% to 8.19%.
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The share of the government (as promoter) in companies listed on the NSE declined to 7.75% as on March 31, 2023, from 7.99% as on December 31, 2022. Over a 13-year period (since June 2009), the share of the government has been steadily declining (22.48% as on June 30, 2009) due to the divestment programme, not enough new listings and lacklustre performance of many CPSEs in relation to their private peers.