Stocks in which FIIs decreased their stake by up to 6.9% to keep an eye on

In the second half of 2023, Foreign Portfolio Investors (FPIs) infused close to $8 billion into the Indian equity market, with significant buying in the secondary markets in November and net selling in September.

Stocks in which FIIs decreased their stake by up to 6.9% to keep an eye on.

The offloading of holding the FII can impact the stock price and the company’s ownership structure. Here are some of the companies in which Foreign Institutional Investors (FFI)/ Foreign Portfolio Investors(FPI) have decreased their holding stake in Q3FY24.

GMM Pfaudler 

GMM Pfaudler is India’s leading provider of end-to-end solutions to the Global Process Industry. The industry, in the broadest sense, involves the production & processing of materials on an industrial scale.

It is a leading supplier of process equipment to the pharmaceutical and chemical industries and has diversified its product portfolio to include Mixing Systems, Filtration & Drying Equipment, Engineered Systems, Heavy Engineering Equipments, and many more.

The shares of GMM Pfaudler Limited were trading at Rs. 1,530.90, down 0.37 percent from its previous day’s close of Rs. 1,536.60 and its market capitalization is Rs. 6,882 Crores.

In Q3FY24, the Foreign Institutional Investors/Foreign Portfolio Investors decreased their holding in the company from 26.49 percent to 22.58 percent, by offloading a 3.91 percent stake. 

Its revenue from operations grew 25.07 percent from Rs. 2,540.57 Crores in FY22 to Rs. 3,177.55 Crores in FY23, accompanied by increasing profits of Rs. 75.36 Crores to Rs. 213.5 Crores.

According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 25.18 percent stake, the Foreign Institutional Investors (FII) Hold 22.58 percent and the Domestic Institutional Investors hold 13.10 percent.

Zee Entertainment Enterprises 

Zee Entertainment Enterprises Limited is engaged in the business of broadcasting Satellite Television Channels, a space-selling agent for other satellite television channels, and the Sale of Media Content i.e. programs, film rights, feeds, music rights, and many more.

With a market capitalization of Rs. 15,595 Crores, the shares of Zee Entertainment Enterprises Limited were trading at Rs. 162.55, down 2.28 percent from its previous day’s close of Rs. 166.35.

In Q3FY24, the Foreign Institutional Investors/Foreign Portfolio Investors decreased their holding in the company from 35 percent to 28.19 percent, by offloading a 6.84 percent stake 

The company’s revenue from operations declined 1.19 percent from Rs. 8,185.7 Crores in FY22 to Rs. 8,087.9 Crores in FY23, accompanied by profits of Rs. 964.6 Crores to Rs. 47.8 Crores.

According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 3.99 percent stake, the Foreign Institutional Investors (FII) Hold 28.19 percent and the Domestic Institutional Investors hold 43.42 percent.

Petronet LNG Limited 

Petronet LNG Limited was formed as a joint venture by 4 of the leading Oil and gas PSUs ONGC, IOCL, GAIL, and BPCL to set up terminals to import Liquified Natural Gas (LNG).

The shares of Petronet LNG Limited were trading at Rs. 257.40, down 1.11 percent from its previous day’s close price of Rs. 260.30 and its market capitalization is Rs. 38,580 Crores.

In Q3FY24, the Foreign Institutional Investors/Foreign Portfolio Investors decreased their holding in the company from 33.31 percent to 26.82 percent, by offloading a 6.49 percent stake. 

Its revenue from operations grew by 38.76 percent from Rs. 43,168 Crores in FY22 to Rs. 59,899 Crores in FY23, accompanied by profits of Rs. 3,438.12 Crores to Rs. 3,325.82 Crores.

According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 50 percent stake, the Foreign Institutional Investors (FII) Hold 26.82 percent and the Domestic Institutional Investors hold 10.95 percent.