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Sharp rise in number of FIIs owning Sensex shares

Sharp rise in number of FIIs owning Sensex shares
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First Published: Sun, May 11 2008. 03 33 PM IST
Updated: Sun, May 11 2008. 03 33 PM IST
PTI
Mumbai: The number of foreign investors has risen sharply in several Sensex shares during the quarter ending 31 March 2008, data on shareholding pattern of Sensex shares available on the website of stock exchanges revealed.
The rise in the number of FIIs, however, has not resulted in rise in the percentage of shareholding by them in case of most of the companies indicating the new FIIs bought shares from the existing foreign players.
As per the data, the FII activity went up in 16 of the 30 Sensex scrips during the quarter.
Pharma major Ranbaxy Laboratories witnessed highest rise with 62 more FIIs taking a stake in the company. The number of FIIs holding equity in the company went up from 183 as of December 2007 to 245 as of March 2008.
ICICI Bank saw 60 more FIIs taking stake in the bank in the first quarter of the current year. It has 621 FIIs as of 31 March 2008, compared to 561 in December 2007.
ITC (53), ONGC (53), BHEL (53), Jaiprakash Associates (48), Reliance Industries (47), DLF (44) were some of the other shares which saw more number of FIIs taking stake.
In terms of absolute number, Reliance Industries is the most fancied stock among FIIs with 1,058 foreign funds holding stakes in the company as of March 2008. The company had 1,011 FIIs on its roll as of December 2007. Incidentally, the total number of FIIs registered with SEBI as of April was 1,334.
Bharti Airtel, Hindustan Unilever, Hindalco, L&T, NTPC and State Bank also saw rise in number of FIIs during the quarter.
In case of Ranbaxy, the rise in the number of FIIs has resulted in increased shareholding by them. The FIIs now hold 17.95 per cent equity in the company, against 13.95% earlier.
However, in case of other Sensex shares, where the number of FIIs holding the shares has gone up, the overall holding by them has not undergone any significant change.
While foreign funds were seen overall bullish about Sensex shares, they reduced their stake in cement major ACC. The company saw both the number of FIIs and the percentage of holding by them going down in the Jan\March quarter over the previous one.
As per the shareholding pattern, the number of FIIs holding the company shares reduced from 192 to 183, while the equity holding by FIIs in the company came down from 18.4% to 15.12%.
Infosys was another company where the number of FIIs went down from 580 to 563, but their overall holding in the company remained same at 33%.
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First Published: Sun, May 11 2008. 03 33 PM IST