HDFC Bank has joined ICICI Bank in the top five sensex scrips held by Foreign Institutional Investors (FII), while IT majors Infosys and Satyam have lost some of their sheen. This indicates a growing clout of Indian blue chip banking scrips among foreign investors.According to the latest filings made by the companies to the BSE, 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, FIIs increased their stake in the country's two largest private banks, ICICI Bank and HDFC Bank.FIIs held a stake of 38.91% in HDFC Bank at the end of 2005-06, up from 31.71% at the end of the previous fiscal. The FII shareholding in HDFC Bank also improved on quarter-over-quarter basis from 32.49% at the end of the quarter ended December 2005.FII shareholding in ICICI Bank increased to 46.59% in 2005-2006, from 43.64% as of March 31, 2005. The FII stake in the country's largest private sector bank had dropped to 42.87% as on December 31, 2006.The shares of HDFC Bank and ICICI Bank have both appreciated more than 60% from their closing levels on March 31, 2005.
