Signaling a growing clout of Indian blue chip banking scrips among foreign investors, HDFC Bank has joined ICICI Bank in the top five Sensex scrips held by foreign institutional investors, while information technology majors Infosys and Satyam have lost some of their sheen.
According to the latest filings made by the companies to the Bombay Stock Exchange, housing finance major HDFC retained the top slot in terms of FII shareholdings in the elite club of 30 Sensex scrips by March end, followed by Satyam Computer, ICICI Bank, HDFC Bank and Infosys Technologies.
While, HDFC, Satyam Computer and Infosys witnessed a decline in their FII shareholdings in 2005-06, the FIIs increased their stakes in the country's two largest private banks, ICICI Bank and HDFC Bank.
FIIs held a stake of 38.91 per cent in HDFC Bank at the end of 2005-06, up from 31.71 per cent at the end of the previous fiscal year. The FII shareholding in HDFC Bank also improved on quarter-over-quarter basis from 32.49 per cent at the end of quarter ended December 2005.
FII shareholding in ICICI Bank increased to 46.59 per cent in 2005-2006, from 43.64 per cent as of March 31, 2005. The FII stake in the country's largest private sector bank had dropped to 42.87 per cent as on December 31, 2006.
The shares of HDFC Bank and ICICI Bank have both appreciated more than 60 per cent from their closing levels on March 31, 2005.