FIIs bullish on Tata group; up stake in 8 cos in Jan-Mar quarter

Foreign Institutional Investors (FIIs) raised their exposure in eight companies of the salt-to -software Tata group that included TCS and Tata Communications during the quarter ended March 31, 2013.

At the same time, they trimmed holdings in five other companies of the group such as Tata Steel, Tata Motors and Tata Power.

An analysis of 13 listed firms of the Tata conglomerate which declared their shareholding pattern during January-March shows that FIIs have increased stakes in eight entities.

The $100-billion Tata group garners over 58% of its revenue from overseas operations.

IT major TCS saw FII holding increasing by about 8% from 14.96% to 16.14% during the quarter.

TCS had on Wednesday reported a 22.1% jump in net profit at Rs 3,596.9 crore for January-March quarter and expressed confidence of beating Nasscom estimate of 12-14% industry growth in 2013-14.

Other Tata companies that saw FII stake going up include Tata Chemicals (from 17.24% to 18.04%), Tata Communications (2.77 to 3.74%), Titan Industries (18.3 to 19.08%), Indian Hotels (14.43 to 15.56%), Trent (13.94 to 14.18%), Tata Elxsi (1.78 to 1.83%), Tata Motors DVR (45.35 to 49.16%).

In contrast, foreign holding in Tata Steel went down to 13.87% from 14.79%, while Tata Motors saw FII stake going down to 28.38% from 29.01%.

FII stake in Tata Power fell from 24.95% to 24.54%, Voltas (21.65 to 18.55%), Tata Global (19.13 to 17.77%).

The BSE 30-stock index, Sensex, had lost nearly 4% during January-March period.