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ƒ Promoters, public, FIIs and MFs are major equity stakeholders in a
listed corporate entity. FIIs have been major investors in Indian
markets with investment of ~US$14 billion YTD. Ample liquidity in
global markets and FII funds flows would be key factors in determining
the movements of the Indian markets, going ahead
ƒ FII investments have steadily increased over the past few years in Nifty
stocks. Currently, FIIs hold 24% of the current market capitalisation of
Nifty stocks. The balance limit permissible for FIIs in Nifty stocks is
now at ~| 8,40,000 crore (15% of current market capitalisation)
ƒ FIIs are overweight mainly on banking, IT and pharma sectors. HDFC,
Sun Pharma and TCS are the top three overweight stocks whereas ITC,
ONGC and Axis Bank are the top three under-weight stocks
ƒ MFs are overweight mainly on the infrastructure and FMCG sectors
whereas they are under-weight on the automobile, banking and IT
sectors. ITC, L&T and SBI are the top three over-weight stocks whereas
HDFC, RIL and HUL are the top three under-weight stocks
ƒ FII investments in BSE 500 companies have increased steadily from
12% in June 2012 to 14.1% in June 2014. The promoter holding in the
same period has declined from 60.9% to 58.9% due to number of
public issuances (dilution). The MF holding has declined marginally
from 2.9% in June 2012 to 2.4% in June 2014
ƒ An analysis of the investment pattern of stakeholders for BSE 500
companies and allocation of their equity portfolio in various business
segments shows that banking, metals, construction & infrastructure, oil
& gas and power sectors have got a significant proportion of allocation
from various stakeholders
ƒ In Q2CY14, FIIs have increased their holdings in the telecom (QoQ
increase of 7.3%) and power (QoQ increase of 5.9%) sector while
FMCG, IT, construction, metals and capital goods have seen lower
allocation QoQ.On a QoQ basis, the IT and banking sectors have seen
higher allocation by ~12% and 15.4%, respectively, on part of MFs.
MFs have reduced their exposure to FMCG, oil & gas, metals, pharma
sectors, etc.
ƒ From a shareholding analysis of the BSE Sensex, BSE Midcap and BSE
Small Cap indices companies, it is also visible that FIIs have a higher
preference towards Sensex companies. Over the last nine quarters,
FIIs have maintained an allocation of between 15% and 19% in Sensex
companies whereas the allocation is ~11% in BSE Midcap and 7% in
BSE Small Cap indices. On a free float basis, FII shareholding in the
BSE Sensex, BSE Midcap and BSE Small Cap indices has been in the
range of ~38%, 28% and 14%, respectively
ƒ Tata Power, Usha Martin and Tree House Education are stocks where
FII, MF as well as promoters have increased their stake. FIIs and MFs
have aggressively increased stake in Power Grid, Gillette, Jubiliant Life,
Yes Bank, Kajaria Ceramics, etc. whereas they have reduced their stake
in United Spirits, Icra, Jagran Prakashan, Titagarh Wagons, etc. Sintex,
City Union Bank, Yes Bank, Wyeth, etc. have been favourites of FIIs
whereas SKS Microfinance, Praj, DB Corp, etc. are MF favourites.
Jubiliant Foods, M&M Financial, Adani Enterprises, DLF, etc. are stocks
where FII holding has remained high as a percentage of free float
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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ƒ Promoters, public, FIIs and MFs are major equity stakeholders in a
listed corporate entity. FIIs have been major investors in Indian
markets with investment of ~US$14 billion YTD. Ample liquidity in
global markets and FII funds flows would be key factors in determining
the movements of the Indian markets, going ahead
ƒ FII investments have steadily increased over the past few years in Nifty
stocks. Currently, FIIs hold 24% of the current market capitalisation of
Nifty stocks. The balance limit permissible for FIIs in Nifty stocks is
now at ~| 8,40,000 crore (15% of current market capitalisation)
ƒ FIIs are overweight mainly on banking, IT and pharma sectors. HDFC,
Sun Pharma and TCS are the top three overweight stocks whereas ITC,
ONGC and Axis Bank are the top three under-weight stocks
ƒ MFs are overweight mainly on the infrastructure and FMCG sectors
whereas they are under-weight on the automobile, banking and IT
sectors. ITC, L&T and SBI are the top three over-weight stocks whereas
HDFC, RIL and HUL are the top three under-weight stocks
ƒ FII investments in BSE 500 companies have increased steadily from
12% in June 2012 to 14.1% in June 2014. The promoter holding in the
same period has declined from 60.9% to 58.9% due to number of
public issuances (dilution). The MF holding has declined marginally
from 2.9% in June 2012 to 2.4% in June 2014
ƒ An analysis of the investment pattern of stakeholders for BSE 500
companies and allocation of their equity portfolio in various business
segments shows that banking, metals, construction & infrastructure, oil
& gas and power sectors have got a significant proportion of allocation
from various stakeholders
ƒ In Q2CY14, FIIs have increased their holdings in the telecom (QoQ
increase of 7.3%) and power (QoQ increase of 5.9%) sector while
FMCG, IT, construction, metals and capital goods have seen lower
allocation QoQ.On a QoQ basis, the IT and banking sectors have seen
higher allocation by ~12% and 15.4%, respectively, on part of MFs.
MFs have reduced their exposure to FMCG, oil & gas, metals, pharma
sectors, etc.
ƒ From a shareholding analysis of the BSE Sensex, BSE Midcap and BSE
Small Cap indices companies, it is also visible that FIIs have a higher
preference towards Sensex companies. Over the last nine quarters,
FIIs have maintained an allocation of between 15% and 19% in Sensex
companies whereas the allocation is ~11% in BSE Midcap and 7% in
BSE Small Cap indices. On a free float basis, FII shareholding in the
BSE Sensex, BSE Midcap and BSE Small Cap indices has been in the
range of ~38%, 28% and 14%, respectively
ƒ Tata Power, Usha Martin and Tree House Education are stocks where
FII, MF as well as promoters have increased their stake. FIIs and MFs
have aggressively increased stake in Power Grid, Gillette, Jubiliant Life,
Yes Bank, Kajaria Ceramics, etc. whereas they have reduced their stake
in United Spirits, Icra, Jagran Prakashan, Titagarh Wagons, etc. Sintex,
City Union Bank, Yes Bank, Wyeth, etc. have been favourites of FIIs
whereas SKS Microfinance, Praj, DB Corp, etc. are MF favourites.
Jubiliant Foods, M&M Financial, Adani Enterprises, DLF, etc. are stocks
where FII holding has remained high as a percentage of free float
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
LINK
http://content.icicidirect.com/mailimages/IDirect_ShareholdingMonitor_Q2CY14.pdf
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