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India Equity Research Reports, IPO and Stock News
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We estimate foreign institutional investors' (FII) equity holdings in India stood at US$213bn as of
30 June 2011, representing 15.1% of the market. This is up from 14.1% a year earlier but
unchanged from the prior quarter, as inflows of US$1.2bn were offset by issuance of US$1.7bn
and market depreciation of 2.3%..
Key sector weightings versus BSE 500 weightings
Key sector overweights for FIIs at the end of June were financials, telecom services and IT, while
key sector underweights were industrials, utilities, energy, and materials. For domestic
institutional investors (DIIs), key sector overweights at the end of June were consumer staples,
utilities, and industrials, while financials and IT continued to be the key underweight sectors.
FIIs reduced their stake significantly in State Bank of India (SBIN IN)…
FII ownership in SBIN declined 15% to 10.9% in June from 12.8% in the March quarter, as FIIs
sold an estimated Rs30bn of SBIN stock. FIIs also reduced their exposure to Axis Bank (AXSB
IN) and IDFC (IDFC IN) during the June quarter.
… and raised their exposure to Asian Paints (APNT IN)
FIIs raised their APNT stake by 20% to 17.3% from 14.5% in the June quarter. FIIs seem to be
increasing their exposure to domestic consumption names delivering high growth despite their
high earnings multiples (GAAP – growth at any price!). FIIs increased their stake in Titan
Industries (TTAN IN) by 28% to 12.5% from 9.7%, and by 36% in Jubilant Foodworks to 33.4%
from 24.6%.
Domestic institutional investors (DII) went the other way
DIIs reduced their exposure significantly to APNT, TTAN and JUBI during the June quarter.
Specifically, they lowered their APNT stake by 20% to 9.2% from 11.6%, their TTAN stake by
34% to 6.2% from 9.4% and their JUBI stake by 77% to 1.8% from 7.7%
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
We estimate foreign institutional investors' (FII) equity holdings in India stood at US$213bn as of
30 June 2011, representing 15.1% of the market. This is up from 14.1% a year earlier but
unchanged from the prior quarter, as inflows of US$1.2bn were offset by issuance of US$1.7bn
and market depreciation of 2.3%..
Key sector weightings versus BSE 500 weightings
Key sector overweights for FIIs at the end of June were financials, telecom services and IT, while
key sector underweights were industrials, utilities, energy, and materials. For domestic
institutional investors (DIIs), key sector overweights at the end of June were consumer staples,
utilities, and industrials, while financials and IT continued to be the key underweight sectors.
FIIs reduced their stake significantly in State Bank of India (SBIN IN)…
FII ownership in SBIN declined 15% to 10.9% in June from 12.8% in the March quarter, as FIIs
sold an estimated Rs30bn of SBIN stock. FIIs also reduced their exposure to Axis Bank (AXSB
IN) and IDFC (IDFC IN) during the June quarter.
… and raised their exposure to Asian Paints (APNT IN)
FIIs raised their APNT stake by 20% to 17.3% from 14.5% in the June quarter. FIIs seem to be
increasing their exposure to domestic consumption names delivering high growth despite their
high earnings multiples (GAAP – growth at any price!). FIIs increased their stake in Titan
Industries (TTAN IN) by 28% to 12.5% from 9.7%, and by 36% in Jubilant Foodworks to 33.4%
from 24.6%.
Domestic institutional investors (DII) went the other way
DIIs reduced their exposure significantly to APNT, TTAN and JUBI during the June quarter.
Specifically, they lowered their APNT stake by 20% to 9.2% from 11.6%, their TTAN stake by
34% to 6.2% from 9.4% and their JUBI stake by 77% to 1.8% from 7.7%
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