While the broader stock market remained flat in the March quarter, a group of 18 companies emerged as winners with a significant rise in stake by the trinity of promoters, foreign institutional investors (FIIs) and domestic institutional investors (DIIs).
The likes of Bajaj Holdings & Investment, Shriram Finance, and Deepak Nitrite led the pack in terms of market capitalisation, according to a report by PRIME database.
Vote of confidence
The companies in which the trinity increased their stake during the quarter (in descending order by market capitalisation) include Bajaj Holdings & Investment, Shriram Finance, Deepak Nitrite, Natco Pharma, NCC, Eclerx Services, Jindal Saw, Anant Raj, Hikal, Dhanuka Agritech, Jai Corp, PSP Projects, IOL Chemicals & Pharmaceuticals, Barbeque-Nation Hospitality, Cosmo First, RPG Life Sciences, Pix Transmissions, and Linc.
The increase in stake by these key players signifies a vote of confidence in the future of these companies, making them ones to watch for potential growth opportunities.
Indian markets march towards Atmanirbharta
The share of DIIs, along with retail and high networth individual (HNI) investors, in companies listed on NSE reached another all-time high of 25.72 per cent as of March 31, 2023, from 24.44 per cent as on December 31, 2022, as per the report.
According to Pranav Haldea, Managing Director, PRIME Database Group, this was the sixth consecutive quarter where their combined share has increased, breaching the 25 per cent or one-fourth mark for the first time in the process.
Net inflows from DIIs stood at Rs 83,200 crore during the quarter.
Moreover, the total share of institutional investors viz., FII and DII, also reached an all-time high of 36.91 per cent in the quarter ending March 31, 2023, up from 35.56 in the quarter ending December 31, 2022.
The proportion of retail investors (individuals holding shares worth Rs 2 lakh in a company) soared to an unprecedented high of 7.48 per cent as of March 31, 2023, up from 7.23 per cent in December 2022.
However, the share of HNIs (individuals holding more than Rs 2 lakh worth of shares in a company) slightly diminished to 1.88 per cent as of March 31, 2023, from 1.89 per cent on December 31, 2022. The retail and HNI overall share rose to 9.36 per cent as of March 31, 2023, up from 9.12 per cent in December 2022.