FOREIGN OWNERSHIP RISES TO 22% IN INDIA INC

Search News

Ownership patterns in India Inc have changed over the last five years, with foreign ownership rising to 22% in June 2007 vs 12% in March 2001 while domestic ownership has decreased. Foreign institution-owned portfolio stood at $193 billion.

For top 500 firms, the key owners are promoters/govt (54%), FIIs & ADRs/GDRs (22%), domestic MFs (4.3%), insurance/other institutions (5.5%) and the public (10%), as per a Citigroup analysis based on quarterly shareholding data for the BSE 500 universe (comprising 90% of the Indian market) since March 2001.

FIIs are most overweight on telecom, materials, industrials and financials though there has been a slight cut in recent quarters in financials and industrials. The biggest underweights are IT services and energy. Domestic MFs are overweight on industrials and consumer discretionary while being underweight on energy, IT services, financials and telecom. A negative view on IT services seems prevalent among FIIs as well as domestic funds although FIIs have cut down on that underweight in the last quarter.

For 2007 till the quarter ended June, companies that have seen the biggest rise in FII holdings include GVK Power, Elder Pharma, Phoenix Mills, Ganesh Housing, Provogue, Tele Data, Aftek India, Max India, Rolta India and Indian Bank. Companies that have seen the biggest fall include HFCL, Hinduja TMT, Balaji Telefilms, Apollo Hospitals, Arvind Mills, Bajaj Auto Finance, ACC, Rain Calcining and Eicher Motors

Find Lawyer / Law Firm

Extradition Law in India

Every time an offender stealthily leaves India to take refuge in another country, the Government of India starts all over again with its strategy of bringing him back to the nation to make him stan More

Legal Consultation - Consult over phone, chat or send questions

Helplinelaw can set up your session with quality and experienced lawyers to discuss and resolve your legal matters. You can avail consultation in form of sending questions, phone call or webchat discussion  More