Government of Singapore, Norges, Vanguard see portfolio gains in Q3; GQG, Amansa see declines

Among FPIs that recorded declines, GQG Partners saw its portfolio fall 18.4 percent to Rs 31,067 crore across 10 stocks from Rs 38,078 crore in 12 stocks in the previous quarter

• Top foreign investors increased stakes or added new stocks in December quarter
• Government of Singapore, Norges, Vanguard, Goldman Sachs saw portfolio gains
• GQG Partners and Amansa recorded portfolio declines due to stock corrections

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Top foreign investors increased stakes in existing holdings or added new stocks to their portfolios during the December quarter, helping lift portfolio values despite significant volatility in Indian markets. Among the gainers, Government of Singapore, Norges, Vanguard, Goldman Sachs and Capital saw their portfolios increase compared with the previous quarter.

These gains came even as FIIs were net sellers of nearly Rs 13,000 crore during the quarter. Benchmark indices Sensex and Nifty gained 6 percent each, the BSE MidCap rose 4 percent, while the BSE SmallCap declined 1.3 percent.

The Government of Singapore, India’s largest foreign investor, saw its portfolio rise 1.7 percent during the December quarter to Rs 1.93 lakh crore across 50 stocks, compared with Rs 1.89 lakh crore in 57 stocks a quarter earlier. Its name no longer appeared in eight stocks, including Godrej Consumer, Astral, Petronet LNG, PG Electroplast and Castrol India. However, it was not immediately clear whether the investor exited these positions entirely or whether its holdings fell below the 1 percent disclosure threshold. It newly appeared in Bharat Electronics Ltd with a stake valued at Rs 2,937 crore. During the quarter, the investor reduced stakes in 28 stocks and increased holdings in 11 stocks.

Norges, India’s second-most valued FPI, saw its portfolio increase 3.3 percent to Rs 1.42 lakh crore across 97 stocks from Rs 1.37 lakh crore in 101 stocks in the previous quarter. Its name disappeared from 10 stocks, including HDFC Life Insurance, Tata Consumer Products, Fortis Healthcare, Blue Star, Jubilant FoodWorks and KEC International. It appeared in seven stocks, including Dr Reddy’s Laboratories, HCC, Piramal Finance, RR Kabel, Sagility and Thomas Cook India.

Vanguard Group recorded a 17.6 percent increase in its portfolio to Rs 75,092 crore across 46 stocks, compared with Rs 63,854 crore in 42 stocks a quarter earlier. It increased stakes in 29 existing stocks and appeared for the first time in seven stocks, including GHCL, Navin Fluorine International, Onesource Specialty Pharma, PNB Housing Finance, Sansera Engineering, UPL and Usha Martin. Its name disappeared from Reliance Infrastructure.

Goldman Sachs saw its portfolio rise marginally to Rs 50,700 crore from Rs 50,400 crore in the previous quarter. It appeared in seven stocks, including Indiabulls, Inox India, Landmark Cars, Manappuram Finance, Navin Fluorine International, TD Power Systems and WeWork India, while exiting five stocks, including Angel One, CarTrade, Nuvama Wealth, SpiceJet and Praveg.

Capital Group, which has the fifth-largest portfolio among registered FIIs in India, saw its portfolio increase 8 percent to Rs 36,650 crore across 39 stocks from Rs 33,978 crore a quarter earlier. It appeared in five stocks, including CarTrade Tech, City Union Bank, HDFC Asset Management, Pine Labs and RBL Bank, and exited two stocks, including Entero Healthcare Solutions and Glenmark Pharmaceuticals.

Mauritius-based Nalanda, investing through Nalanda India Equity Fund and Nalanda India Fund, saw its portfolio rise 1 percent to Rs 30,947 crore across 29 stocks from Rs 30,696 crore in 28 stocks a quarter earlier. The fund added TTK Prestige during the quarter. Gains in Sundaram Finance and AIA Engineering offset corrections in other holdings, keeping the portfolio broadly stable.

Among FPIs that recorded declines, GQG Partners saw its portfolio fall 18.4 percent to Rs 31,067 crore across 10 stocks from Rs 38,078 crore in 12 stocks in the previous quarter. It exited Adani Ports & SEZ and JSW Energy. The decline followed corrections in Adani Group stocks and ITC.

Mauritius-based Amansa saw its portfolio drop 18.3 percent to Rs 16,791 crore across 28 stocks from Rs 20,545 crore in 29 stocks a quarter earlier. It appeared in four new stocks, including Aequs Ltd, Aether Industries, Clean Science and Technology and Rubicon Research, and exited Cyient, Eicher Motors, Restaurant Brands Asia and Saregama India. It reduced stakes in 14 stocks, including Bharat Forge, Poonawalla Fincorp, SRF, Jana Small Finance, Sundaram Fasteners, Trent, One97 Communications, Fortis Healthcare and V-Mart Retail.

Northern TK Venture Pte, which holds a stake in Fortis Healthcare, saw its investment value decline 9 percent to Rs 20,790 crore from Rs 22,829 crore due to a 9 percent fall in Fortis Healthcare shares during the quarter. Google International LLC, which holds a stake in Bharti Airtel, saw its investment value rise to Rs 15,000 crore from Rs 13,370 crore, as Bharti Airtel shares gained 12 percent during the quarter.