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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.
Speaking to lots of PMS FMs/ HNIs/Big retail one gets a sense, we are in 2012-13 kind environment for Small/midcaps..totally shunned-unloved, no stock picking gup-shup, no interest to find new ideas, full focus on BSE-200 group. Very few active this side of market at the margin..
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
A February 11 report from the brokerage Kotak Institutional Equities said that FPIs bought Indian equities worth Rs 44,900 crore 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.
Morgan Stanley brokerage also lists large-cap stocks in the BSE 200 index that could be included from the subsuming of the foreign limits. These are Kotak Bank, Bajaj Holdings, United Breweries, PFC, Biocon, Indraprastha Gas, ACC, and MRF.
Domestic Institutional Investors (DIIs) sold companies in capital goods, electric utilities and oil, gas and consumable fuels sectors. FPIs and DIIs holding in the BSE-200 Index stood at 24.1 per cent and 13.5 per cent at the end of June 2019 quarter, it said.
FPI ownership in the BSE-200 Index increased to $444 billion in the June quarter from $433 billion in the March quarter.
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.
Why limit the universe to BSE 200?
Auto-components maker Motherson Sumi Systems Ltd. slid 6.4 per cent, the worst performer on S&P BSE 200 and S&P BSE 500 indexes. About 8.4 million shares, or 0.3 per cent of its equity, changed hands in a single block on BSE Ltd., according to data compiled by Bloomberg.
#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....
A Stock move from Rs100 to Rs200 in Y1 & back to Rs140 in Y2 becomes a pain point vs Rs115 in Y1 & Rs140 in Y2. CY17, 91% of BSE 200 stocks were up, while 66% stocks of were down in CY18. Net only 26% of stocks were down between CY16-18, Yet sentiment is weak due to CY17 upmove
Retail investors account for about 7.54 per cent of BSE 200 companies in September 2018 compared with 7.55 per cent in the previous quarter,
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