FPIs up stake in financials, pare pharma holdings

FPI holding has risen by more than 1% in 73 entities

Foreign portfolio investors (FPIs), the biggest non-promoter shareholders in the Indian stock market, increased their allocation to several financial services companies in the June quarter, while reducing holdings in pharmaceutical and health care firms.

An analysis of Capitaline data for 450 companies that have disclosed their shareholding pattern for the quarter shows FPIs raised their stake in 211 companies, nearly 50 per cent of the companies analysed.

Their holding has risen by more than one per cent in 73 entities. These include several financial services firms such as Capital First (17.3-percentage point increase), Equitas Holdings (6.3 percentage points) and Bharat