Foreign institutional investors (FIIs) are continuing their buying spree in ICICI Bank, with their holdings in the country’s leading private sector lender touching a six-year high of 39.85% in the January-March period of 2014.
FIIs bought an additional 1.46 percentage points stake in ICICI Bank during the March quarter, as per the latest information available with the stock exchanges. FIIs held 38.39% stake in the bank during the October-December quarter.
Moreover, the current FII holding of 39.85% in the country’s second largest private sector bank in terms of market capitalization is the highest in six years. The level stood at 40.30% during the quarter ended March 31, 2008. FIIs held as much as 46.4% stake in ICICI Bank during the December 2004 quarter.
This was the second quarterly increase in FII holding in ICICI Bank. In the past two quarters, FIIs hiked their stake in ICICI Bank by 2.31 percentage points from 37.54% at the end of September 30, 2013 quarter.
FIIs bought an additional 17 million shares worth Rs 1,838 crore of ICICI Bank in March quarter, while they purchased 9.8 million shares amounting to Rs 1,033 crore during the December quarter.
Meanwhile, Life Insurance Corporation of India has reduced its holdings in ICICI Bank to 8.74% in the March quarter from 9.7% in the December quarter. The insurance giant held 10.46% stake in the bank at the end of September quarter.
The shares of ICICI Bank are currently trading 2.4% higher at Rs 1,252 on the BSE, having rallied 38% from Rs 884 on September 30, 2013. The benchmark S&P BSE Sensex has gained 15.9% during the same period.
FIIs bought an additional 1.46 percentage points stake in ICICI Bank during the March quarter, as per the latest information available with the stock exchanges. FIIs held 38.39% stake in the bank during the October-December quarter.
Moreover, the current FII holding of 39.85% in the country’s second largest private sector bank in terms of market capitalization is the highest in six years. The level stood at 40.30% during the quarter ended March 31, 2008. FIIs held as much as 46.4% stake in ICICI Bank during the December 2004 quarter.
This was the second quarterly increase in FII holding in ICICI Bank. In the past two quarters, FIIs hiked their stake in ICICI Bank by 2.31 percentage points from 37.54% at the end of September 30, 2013 quarter.
FIIs bought an additional 17 million shares worth Rs 1,838 crore of ICICI Bank in March quarter, while they purchased 9.8 million shares amounting to Rs 1,033 crore during the December quarter.
Meanwhile, Life Insurance Corporation of India has reduced its holdings in ICICI Bank to 8.74% in the March quarter from 9.7% in the December quarter. The insurance giant held 10.46% stake in the bank at the end of September quarter.
The shares of ICICI Bank are currently trading 2.4% higher at Rs 1,252 on the BSE, having rallied 38% from Rs 884 on September 30, 2013. The benchmark S&P BSE Sensex has gained 15.9% during the same period.
