Foreign portfolio investors (FPIs) have been net-sellers on D-Street for five quarters including the June quarter. The sell-off by FPIs has been quite broad-based and they have cut their stake in 130 of the 191 BSE 200 companies in the previous quarter, a report by Business Standard stated. However, the report noted that FPIs continued to raise their stake in select stocks.
The report has listed the top 5 stocks which saw the maximum increase as well as the biggest decline in FPI stake.
Stocks including Max Health, Varun Beverages, Adani Enterprises, Patanjali Foods and Tata Elxsi witness the biggest rise in FPI stake in the June quarter, the report noted. Meanwhile, the biggest decline in this period was seen in Zee, Tech Mahindra, SBI Card, Hindalco and Shriram Transport, it informed.
As per the report, FPI's stake in hospital chain operator Max Healthcare Institute was up at 24.4 percent in the first quarter of 2022-23, from 15.7 percent in the fourth quarter (Q4) of 2021-22 (FY22) — the biggest increase among BSE 200 companies.
In consumer firm Varun Beverages, FPIs increased stake to 24.4 percent in Q1Y23 from 21.5 percent in the previous quarter, noted the report.
FPI's stake in Adani Enterprises also rose from 16.7 percent in the March quarter to 19.5 percent in the June quarter. Meanwhile, that of Patanjali Foods was also raised to 2.7 percent in Q1 from 0.1 percent in the March quarter, added BS.
In Tata Elxsi, the FPIs increased from 14.6 percent in Q1FY22 to 16.5 percent in Q1FY23.
Among companies with a major decrease in FPI stakes, Zee Entertainment Enterprises (ZEEL) witnessed the biggest decline in FPI holding among BSE 200 companies, stated BS. FPI's stake in ZEEL declined to 50.14 percent in the first quarter (Q1) of 2022-23 (FY23), from 58.7 percent in the fourth quarter (Q4) of 2021-22 — the fifth consecutive quarterly decline at least.
Tech Mahindra saw the second biggest fall in FPI holding in the first quarter (Q1) of 2022-23 (FY23) to 30.5 percent from 35.2 percent earlier, noted BS.
FPI stake in SBI Cards also fell to 8.5 percent in Q1Y23 from 12,8 percent in Q4FY22. Meanwhile, in Hindalco, the FPIs cut weight to 24.8 percent from 28.9 percent, stated the report. Shriram Finance also saw FPIs cutting stake to 50.1 percent from 54 percent, it added.