Overseas investors have dumped Reliance Industries shares worth an estimated Rs 1,000 crore in this fiscal, but have made net purchase worth an equivalent amount in the stocks from the Tata and Anil Ambani groups.
The holding of foreign institutional investors (FIIs) in Mukesh Ambani-led RIL fell from 17.7% to 17.37% during the current fiscal's first quarter ended June 30.
As per the average market value of the company during the quarter, the shares sold by FIIs during the quarter were worth Rs 1,043 crore.
Their holding in another group firm Reliance Industrial Infrastructure also fell from 0.81% to 0.44%.
However, given the low valuation of this company, the worth of shares sold by FIIs during the quarter was only about Rs 3.3 crore, taking the value of total shares of the group sold in the quarter to Rs 1,046.74 crore.
On the other hand, FIIs made net purchase of shares worth an estimated Rs 300 crore in Anil Ambani group companies and of shares worth about Rs 700 crore in the Tata group stocks.
The figures include for six listed companies for the Anil Ambani group and 29 listed entities of Tata group.
Among the ADAG stocks, the FII holdings increased in RCOM, Reliance Capital, R-Power and R-Infra during the April-June quarter, but declined for Reliance MediaWorks (RMW) and Reliance Broadcast Networks (RBN).
The FIIs are estimated to have purchased shares worth Rs 125 crore in Reliance Capital, about Rs 58 crore in RCOM, about Rs 74 crore for R-Power and Rs 40 crore for R-Infra.
At the same time, they sold shares worth an estimated Rs 2 crore in RMW and RBN shares, taking their total net purchase for the group to Rs 292 crore for the quarter.
In the Tata group, the FII holdings increased during the quarter in companies like Rallis, Tata Chemicals, Tata Power, Tata Global Beverages, TCS, Titan, Trent and Voltas.
However, FIIs sold shares of companies like Tata Motors, Tata Steel, Tata Investment Corp and Taj GVK Hotels.
Together, all Tata group firms witnessed a net purchase of shares worth an estimated Rs 698 crore during the quarter.
The major increase of more than 2 percentage points was seen in Rallis and Titan. In value terms, FIIs made major purchases in companies like TCS, Titan, Rallis and Voltas.
On the other hand, domestic institutional investors were net sellers in all three groups, with net sale of shares worth an estimated Rs 350 crore.
However, one of the biggest domestic investor, the public sector insurer LIC hiked its stake in RIL during the quarter with purchase of shares worth an estimated Rs 161 crore.
