Stocks
September shareholding pattern suggests India Inc ownership is firmly in FII hands

We are halfway through our analysis of BSE A group companies’ shareholding patterns and have come up with some interesting observations. FII share is going up, while DII share is decreasing

A lot of companies have seen a huge rise in y-o-y and q-o-q FII share and an equally large number of companies have seen a q-o-q and y-o-y fall in DII share. Very few companies have seen y-o-y and q-o-q FII share fall while very few companies have seen DII share rise dramatically.

In some companies, ownership has clearly shifted in the quarter from DII hands to FII - such as ACC, SBI, Adani Enterprises, Allahabad Bank, Andhra Bank, Ashok Leyland, Aurobindo Pharma, Dabur, Divi's Lab, Exide, Godrej Ind, and Indraprastha Gas.

Sharp q-o-q FII rise: Dish TV, Tech Mahindra, Crompton Greaves, ACC, NTPC, ONGC, SBI, Tata Power, Adani Enterprises, Allahabad Bank, Alstom, Andhra Bank, Ashok Leyland, Aurobindo Pharma, BGR Energy, BPCL, Bhushan Steel, Biocon, Cadila, Castrol, Century Textiles, Coromandel Int, Dabur, Divi's Lab, Engineers India, Exide, Godrej Ind, Grasim, GTL Infra, HDIL, Idea, IFCI, IOB, Indraprastha Gas, Indusind Bank.

Sharp q-o-q DII fall: Marico, Patni Computer, JSPL, IRB Infra, United Spirits, ACC, HDFC Bank, SBI, ABB (buyback), Adani Enterprises, Adani Power, Allahabad Bank, Andhra Bank, Ashok Leyland, Asian Paints, Aurobindo Pharma, Axis Bank, Bajaj Auto, CONCOR, DB Realty, Dabur, Divi's Lab, Exide, Godrej Ind, Godrej Prop, HCC, IDBI Bank, Indiabulls Real Estate, Indraprastha Gas.

In case of Wipro, DIIs seem to have picked up where FIIs have sold q-o-q.

Sharp q-o-q FII fall: GESCO, IRB Infra, Wipro, Aban Offshore, ABB (buyback), Godrej Prop, IDBI Bank.

Sharp q-o-q DII rise: Godrej Consumer, DLF, Wipro, Engineers India, Fortis Healthcare, GSPL, GVK Power, HCL Tech.

Over a year, companies where FIIs have bought where DIIs have sold include Patni, Crompton Greaves, JSPL, United Sprits, ACC, Hero Honda, Allahabad Bank, Apollo Tyres, Ashok Leyland, Aurobindo Pharma, Axis Bank, Bajaj Auto, Cummins, Dabur, Divi's Lab, DRL, Exide, Godrej Ind, and HDIL.

Sharp y-o-y FII rise: Dish TV, Tech Mahindra, IDFC, OBC, MTNL, Patni Computer, Crompton Greaves, JSPL, United Spirits, ACC, Hero Honda, Hindalco, NTPC, SBI, Tata Motors, Adani Enterprises, Allahabad Bank, Apollo Tyres, Ashok Leyland, Aurobindo Pharma, Axis Bank, Bajaj Auto, BGR Energy, Bharat Forge, Biocon, Bhushan Steel, Cadila, Canara Bank, Castrol, Century Textiles, CESC, Colgate, Coromandel Int, Cummins, Dabur, Divi's Lab, DRL, Engineers India, Exide, Fortis Healthcare, GMR Infra, Godrej Ind, HCL Tech, HDIL, IFCI, Indusind Bank.

Sharp y-o-y DII fall: Marico, IDFC, ABNL, Patni Computer, Crompton Greaves, JSPL, BoI, IRB Infra, United Spirits, ACC, DLF, HDFC Bank, Hero Honda, Jaiprakash Associates, ABB (buyback), Allahabad Bank, Apollo Tyres, Ashok Leyland, Asian Paints, Aurobindo Pharma, Axis Bank, Bajaj Auto, CONCOR, Cummins, Dabur, Divi's Lab, DRL, Exide, Godrej Ind, GTL Infra, HCC, HDIL, IDBI Bank, Indiabulls Financial, Indiabulls Real Estate.

Over a year, companies where FIIs have sold where DIIs have bought include BHEL, Tata Steel, Wipro, and GVK Power.

Sharp y-o-y FII fall: BoI, BHEL, RCOM, Reliance Infra, Tata Steel, Wipro, Aban Offshore, ABB (buyback), Bharat Electronics, BPCL, Educomp, EIH, GVK Power, IDBI Bank, Indiabulls Financial, IOB.

Sharp y-o-y DII rise: Tech Mahindra, Godrej Consumer, GESCO, BHEL, Bharti Airtel, NTPC, Tata Steel, Wipro, Engineers India, Essar Oil, Fortis Healthcare, GSPL, GVK Power, Havells, HCL Tech, HDIL, IOB, Indusind Bank.

Quite a few changes have happened in promoter share as well. Marico, HDFC Bank, IDBI and Fortis saw increases while EIH, HDIL and Engineer's India saw falls.

Promoter share:

Sharp q-o-q rise: Marico, HDFC Bank, ABB (buyback), Fortis Healthcare, IDBI Bank.
Sharp q-o-q fall: EIH, Engineers India, HDIL.
Sharp y-o-y rise: ABNL, Reliance Infra, Fortis Healthcare, GTL Infra, IDBI Bank, Indiabulls Real Estate.
Sharp y-o-y fall: Dish TV, Tech Mahindra, United Spirits, EIH, Engineers India, Essar Oil, HDIL

Click here to see detailed table

(This report is based on secondary research and is for information only. None of the stock information, data and company information presented herein constitutes a recommendation or solicitation of any offer to buy or sell any securities. Investors must do their own research and due diligence before acting on any security. Some of the opinions expressed in this article are the author's own and may not necessarily represent those of Moneylife).
 

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COMMENTS

Roopsingh

6 years ago

Thanks to BHAVE & co.for this fantastic report of SELF RULE shifting to foreign rule in our economy-he did all this for mere2% of hard earned commission of IFA's-for which our DII's & our retail investors are paying a huge price which is not less then 20% in actual terms-our indian investors have turned their faces because the MOTIVATING force of IFAs is totally idle now-JAI HO JAI HO BHAVE JI KI

Personal finance Wednesday

ACE Commex launches futures trade in 5 agri items; Deutsche MF launches DWS Fixed Term Fund-Series 76; Fidelity MF unveils Fidelity Fixed Maturity Plan-Series IV-Plan A; Principal MF introduces Principal Pnb Fixed Maturity Plan-91 Days-Series XXV; Sundaram MF floats Sundaram Fixed Term Plan-AP

ACE Commex launches futures trade in 5 agri items

Kotak Group-promoted ACE Commodity Exchange today kick started as the country's fifth national commodity bourse with the launch of futures trading in five agricultural items - castor seed, chana, soyabean, mustard seed and refined soy oil.
In the opening hour of the trade, futures trading was more active in the December contracts of all five agri-commodities, though the November 2010 and January 2011 contracts were also available for traders.
According to the exchange data, the castor seed contract for December expiry opened at Rs3,442 per quintal, chana at Rs2,440 per quintal, soyabean at Rs2,244 per quintal, mustard seed at Rs573 per 20 kg and refined soy oil at Rs545.9 per 10 kg.
At 11 hours, the trade volumes in the December contract of soybean was 144 tonnes, refined soy oil at 76 tonnes, chana at 59 tonnes, castor seed at 60 tonnes and mustard seed at 35 tonnes.
The exchange, which has upgraded itself to a national exchange from a regional exchange, earlier Ahmedabad Commodity Exchange, has applied with the sector regulator Forward Market Commission (FMC) for permission to offer non-agricultural items like crude, gold and bullion.
Presently, Kotak Group is the anchor investor in ACE Commodity Exchange with a 51% stake, while Haryana's Hafed has a 15% interest and banks like Bank of Baroda, Union Bank and Corporation Bank have an over 14% stake.
The remaining equity is held by Ahmedabad Commodity Exchange members. 
The other four national commodity exchanges are NMCE, MCX, NCDEX and ICEX.

Deutsche MF launches DWS Fixed Term Fund-Series 76

Deutsche Mutual Fund has launched DWS Fixed Term Fund-Series 76, one year close-ended income scheme. The objective of the fund is to generate regular income by investing in debt and money-market instruments maturing on or before the date of the maturity of the scheme. The scheme will invest 100% in domestic debt instruments having low to medium risk.
During the new fund offer, the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend (payout) options. The scheme opens on 27th October and closes on 28th October. The exit load for the scheme is nil. The minimum investment amount is Rs5,000. The minimum target amount is Rs1 crore.
CRISIL Short Term Bond Index is the benchmark index. The scheme will be managed by Avnish Jain.

Fidelity MF unveils Fidelity Fixed Maturity Plan-Series IV-Plan A

Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan-Series IV-Plan A, a close-ended income scheme. The primary objective of the scheme is to generate reasonable returns and reduce interest rate volatility through investment in money market and short- to mid-term debt instruments having maturity, on or before the date of maturity of a plan.
During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend (payout) options. The scheme has tenor of 94 days. The scheme opens on 27th October and closes on 28th October. The minimum investment amount is Rs5,000. The exit load for the scheme is nil. CRISIL Liquid Fund Index is the benchmark index. The scheme will be managed by Shriram Ramanathan and Mahesh Chhabria. 

Principal MF introduces Principal Pnb Fixed Maturity Plan-91 Days-Series XXV

Principal Mutual Fund has launched Principal Pnb Fixed Maturity Plan-91 Days-Series XXV, a close-ended income scheme.
The investment objective of the scheme is to build an income-oriented portfolio and generate returns through investment in debt/money-market instruments and government securities.
During the new fund offer, the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend options. The scheme opens on 27th October and 28th October. The exit load for the scheme is nil. The minimum investment amount is Rs5,000. The minimum target amount is Rs35 crore. CRISIL Liquid Fund Index is the benchmark index. The scheme will be managed by Shobit Gupta.

Sundaram MF floats Sundaram Fixed Term Plan-AP

Sundaram Mutual Fund has launched Sundaram Fixed Term Plan-AP, a close-ended income scheme.
The investment objective is to generate income with minimum volatility by investing in debt and money-market securities, which mature on or before the maturity of the scheme.
During the new fund offer, the units will be offered at face value of Rs10 per unit. The scheme offers growth and dividend (payout) options. The scheme opens on 27th October and 29th October. The minimum investment amount is Rs5,000. The exit load for the scheme is nil.
CRISIL Short-Term Bond Fund Index is the benchmark index. The scheme will be managed by Dwijendra Srivastava.
 

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ONGC appoints auditors to certify its oil and gas reserves

New Delhi: State-owned exploration and production (E&P) major Oil and Natural Gas Corporation (ONGC) today said it has appointed two international auditors to certify its oil and gas reserves, ahead of a planned share sale early next year, reports PTI.

"We have appointed D&M (DeGolyer and MacNaughton) and Gaffney, Cline and Associates as reserve auditors to value our reserves," ONGC chairman and managing director RS Sharma told reporters at the Economic Editors Conference here.

The government plans to sell 5% of its shares in the follow-on public offer (FPO) in March 2011.

"We are ready for the FPO but not before the first quarter of 2011 calendar year," he said.

ONGC may ask the two reserve auditors to certify reserves in its 15 key oil and gas fields out of the about 150 discoveries it has made in the country.

"Certifying reserves for all the 150 fields will take six to eight months and we do not have that kind of time," he said.

Mr Sharma said ONGC usually gets its reserves audited every five years but this time it is getting a certification in the third year because of the planned FPO.

The proposed 5% divestment in ONGC may fetch the government about Rs 10,800 crore.

Post offer, the government’s shareholding in ONGC will come down to 69.14% from current 74.14%.

"The ministry of petroleum and natural gas has accorded in-principle approval (to the share sale) and the Department of Disinvestment has circulated a note for inter-ministerial consultations," oil secretary S Sundareshan said.

Before the ONGC offer, Indian Oil Corporation, the nation's largest company, will come out with an FPO in January 2011.

"It is proposed that IOC will issue fresh equity capital of up to 10% of its paid up capital along with a simultaneous disinvestment of 10% of the government shareholding in the company," he said.

The government is likely to realise about Rs8,000 crore while IOC will fetch about Rs10,100 crore to meets its capital expenditure requirement.

The government’s holding post fresh issue and disinvestment will come down to 62.65% from the current 78.92%.

Mr Sundareshan said Department of Disinvestment will decide on the timing and slotting of the issues keeping in mind issues like overcrowding the market.

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