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Axis Capital says June’20 quarter saw maximum numbers of companies partly revoking their pledged shares in the last five years, indicating that promoters are more cautious about over-leveraging and understand its impact on shareholder value. They analysed BSE 200.
Yes, you are right that still even increase in allocation - MFs are u/w consumers if measured by allocation wrt BSE-200 weight.
DII holding in the BSE-200 Index declined to 13.9 percent in the December 2019 quarter from 14 percent in September 2019 quarter. Banks, diversified financials and insurance sectors witnessed FPI buying while DIIs sold banks and oil & gas and consumable fuels sectors. 2/n
FPI ownership in the BSE-200 Index showed a sequential increase during the December quarter. FPIs bought Indian equities worth Rs 44,900 cr and FPI ownership in the BSE-200 Index increased to 24.3 percent in December 2019 quarter from 23.8 percent in September 2019 quarter. 1/n
India's high dependency on foreign capital - Equity - US$433 bn in FPI equity (46.1% of free-float mcap of BSE-200) FDI - US$325 bn in FDI equity (cumulative net inflows from FY2000). In comparison Co's - foreign debt at US$309 bn Govt - US$104 bn
On increasing public shareholding in all the companies to 35 per cent, it said controlling stakeholders of the BSE 200 index would need to supply about USD 30 billion of stock for all these companies.
#Promoterpledge Of BSE 200, 15 Cos had more than 40% of their promoter holdings pledged as on Dec-18 end (15%-60% of total share capital), with cumulative notional value worth >Rs 85,000 Cr: Jefferies Groups that figure prominently are GMR, ESSEL Group, JSW, Adani Grp etc....
Bajaj Auto, Hero MotoCorp, Tata Motors hit 52-week low: Shree Cement, Grasim Ind, Container Corporation, Indian Bank, Motilal Oswal Financial, Edelweiss Financial and Oracle Financial Services were among 10 stocks from the S&P BSE 200 index