FIIs largest shareholders in 77 Indian companies

Foreign institutional investors were the largest shareholders in as many as 77 companies at the end of December 2004. In the same month two years ago, they had similar stakes in just 24 companies. At the end of December 2003, the number was more than double at 54.

These 77 companies account for 44 per cent of the total traded market capitalisation of the Bombay Stock Exchange

. FIIs were the largest shareholders in 20 of the 30 companies in the Sensex basket, compared with just nine at the end of December 2002 and 15 at the end of December 2003. These 20 companies have 71 per cent weight in the Sensex.

In the last two calendar years, FIIs have invested a net $15.115 billion in the Indian equity market.

FIIs have actually doubled their stake in companies such as Oil and Natural Gas Corporation, Reliance Energy, Larsen and Toubro, Tata Power, Tata Steel, Bharti Tele-Ventures, Cipla and Grasim Industries between January 2003 and December 2004.

In 23 companies, including nine Sensex companies, FIIs' stakes are higher than the combined holdings of banks, mutual funds, public and private companies, and others, at the end of the December 2004

quarter.

FII holdings are more than the promoters' holdings in HDFC, Satyam Computer Services, Infosys Technologies and HDFC Bank.

Besides, FII holdings are more than the combined holdings of banks, mutual funds, public companies and others in Zee Telefims, Hero Honda Motors, Bharat Heavy Electricals, Maruti Udyog and ONGC.

In Geodesic Information Systems, NIIT, Pantaloon Retail, Container Corporation, Aurobindo Pharma, Amtek Auto, Mahindra and Mahindra and Apollo Hospitals, FIIs are the largest shareholders after the promoters' group.