YES Bank and PB Fintech (PolicyBazaar) witnessed the highest increase in stake by foreign portfolio investors (FPIs) during the October-December quarter, stated a report by Business Standard.
Meanwhile, Gayatri Projects and New Delhi Television (NDTV), however, saw the highest reduction in stake, it added, citing data collated by PRIME Database.
The report highlighted that FPIs raised their stake in YES Bank by 11 percentage points (ppt), in PolicyBazaar owner PB Fintech by 10.8 ppt, and in Servotech Power Systems by 9.4 ppt.
Conversely, FPIs pruned their stake in Gayatri Projects by 10.09 ppt and NDTV by 9.4 ppt, it further mentioned.
The BS report noted that the change in FPI ownership in the prospects of stocks was somewhat mixed.
Of the 10 stocks which saw the highest climb in FPI ownership in Q3FY23, five rose and five declined during the period, informed BS. Meanwhile, six of the 10 stocks which saw the maximum decline in FPI holdings in the same quarter rose during the period, it added.
While YES Bank stock rose 31 percent in the December quarter, PolicyBazaar and Servotech Power fell 5 percent and 14 percent, respectively, it noted.
Meanwhile, among stocks that witnessed the maximum outflows, Gayatri Projects rose half a percent whereas NDTV and Shriram Finance fell 7 percent and 15 percent, respectively, it said.
FPIs bought shares worth ₹47,349 crore in National Stock Exchange-listed companies in the quarter that ended in December 2022, as per the report.
Their holding rose to 20.18 percent against 19.88 percent in the preceding quarter (July-September) of FY23, added the report.
