Press Esc to close
Saturday 21 January 2017
News updated at 1:57 PM IST
Weather
Max: 28.9°C
Min : 15.3°C
In Bengaluru
Sunny day

FIIs up stake in 12 Tata group firms

New Delhi, Feb 3, 2013, PTI:
Taking a bullish stance on shares of Tata group firms, overseas investors have raised their exposure in 12 companies of the salt-to-software conglomerate including giants like TCS, Tata Steel and Tata Motors.

The $100-billion Tata group derives over 58 per cent of its revenue from international operations and foreign investors have always been attracted towards shares of its about 30 listed companies.

However, foreign institutional investors (FIIs) seem to have turned more bullish on the group in the recent months and they raised their stake in 12 out of the 15 major Tata companies in the last quarter ended December 31, 2012, as per the latest shareholding data of these companies.

Among these, FIIs raised their stake in IT bellwether firm TCS from 14.83 per cent to 14.96 per cent during the October-December 2012 quarter. Besides, the FII holding in Tata Motors rose from 28.47 per cent to 29.01 per cent during this period, while the same in Tata Steel moved up from 14.71 per cent to 14.79 per cent.

The other Tata companies where FIIs have raised their stake include Tata Power, Trent, Tata Communications, Tata Elxsi, Tata Global Beverages and Indian Hotels.
The growing attraction among FIIs for Tata group stocks incidentally come at a time a change of guard has taken place at its Bombay House headquarters.

The 44-year-old Cyrus Mistry took over as head of Tata group following retirement of Ratan Tata on December 28, 2012. Tata, who has now assumed the role of chairman emeritus, has spent nearly 50 years with the group including 21 years as chairman.

The companies where FII holding dipped during the last quarter were Rallis India, Voltas and Tata Teleservices.

FIIs reduced their shareholding in Rallis India to 10.8 per cent from 11.85 per cent in September quarter, while in Voltas it dipped to 21.65 per cent from 22.55 per cent.
Tata Teleservices also saw decline in foreign investors holding from 0.82 per cent to 0.65 per cent in Q3.

Tata group commands a market value of over $93 billion and an investor base of over 3.8 million.

 

Go to Top

Photo Gallery
American citizens attend a vigil for democracy and to pay a tribute to former U.S. President...

American citizens attend a vigil for democracy and to pay a tribute to former U.S. President...

President Barack Obama and first lady Michelle Obama pose with President-elect Donald Trump...

President Barack Obama and first lady Michelle Obama pose with President-elect Donald Trump...

Barron Trump and Eric Trump arrive for inauguration ceremonies...

Barron Trump and Eric Trump arrive for inauguration ceremonies...

President Donald Trump walks with first lady Melania Trump after walking...

President Donald Trump walks with first lady Melania Trump after walking...

Incoming VP Pence, President-elect Trump, outgoing President Obama and outgoing VP Biden...

Incoming VP Pence, President-elect Trump, outgoing President Obama and outgoing VP Biden...

Army officers stand on Indian Army's Pinaka multi-barrel rocket launcher system...

Army officers stand on Indian Army's Pinaka multi-barrel rocket launcher system...

75,000 people gather for a mass protest to support Jallikattu in Coimbatore...

75,000 people gather for a mass protest to support Jallikattu in Coimbatore...

Students of an art school apply finishing touches to a portrait of President elect Donald Trump...

Students of an art school apply finishing touches to a portrait of President elect Donald Trump...

A worker removes snow from the roof of a hotel on a sunny day in Gulmarg, west of Srinagar...

A worker removes snow from the roof of a hotel on a sunny day in Gulmarg, west of Srinagar...

President Pranab Mukherjee with West Bengal Governor KN Tripathi, Chief Minister...

President Pranab Mukherjee with West Bengal Governor KN Tripathi, Chief Minister...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523