look news india
HDFC and ITC were among the nine largecap stocks in which foreign institutional investors (FIIs) reduced their stake in the fourth quarter of financial year 2023-24. In the fourth quarter, foreign investment in HDFC Bank fell by 4.5 percent to 47.83 percent. In the third quarter of the financial year 2023-24, FII stake in HDFC stood at 52.31 percent.
FII stake in ITC fell by 2.3 per cent in the March quarter of 2023-24. During this period, FIIs fell to the level of 40.95 percent. During the third quarter of this financial year, FII stake in ITC stood at 43.26 percent. FII stake in IndusInd Bank fell by 2.2 per cent to 40.25 per cent in the fourth quarter of FY 2023-24. Which was 42.47 percent in the third quarter of the same year.
Kotak Mahindra Bank is also a large-cap stock that has seen a decline in foreign investment. In the fourth quarter of the financial year 2023-24, FII declined by 2.1 percent to 37.59 percent. In the third quarter this figure was 39.74 percent. Also, Polycab India indicated that its FII stake has also declined by 1.5 per cent. FII stake fell by 1.5 percent to 11.95 percent. Which was 13.4 percent in the third quarter. FIIs in Asian Paints fell by 1.4 per cent to 15.89 per cent in the March quarter. In the third quarter of financial year 2023-24 ended in December, FII stake in Asian Paints was 17.32 percent. ICICI Prudential EV Insurance is also one of the largecap stocks that witnessed bearish sentiment among FIIs. The share of foreign investment in this stock decreased by 1.4 percent to 13.35 percent. In the third quarter this figure was 14.72 percent.
Eicher Motors has also been disappointed in the FII case. In the third quarter of the same year, this share in foreign investment contribution also decreased by 1.3 percent from 30.27 percent to 28.95 percent. Apart from HDFC Bank, a decline in FIIs was also recorded in HDFC EV Insurance Company. Which was 1.3 percent. With this decline the stake is now 30.03 percent. Which was 31.29 percent in the last quarter.