 "FIIs bullish on Tata group stocks; up stake in 13 cos in Sep quarter")
Mumbai: Reflecting robust sentiment on TataGroup companies, foreign investors raised their holding in asmany as 13 firms, including biggies like TCS, Tata Motors,Tata Steel and Tata Power in the July-September quarter.
Foreign institutional investors (FIIs) have raised theirexposure in 13 out of the 16 major Tata companies in thequarter ended September, 2013, as per the latest shareholdingdata of these companies.
The $100-billion Tata group garners nearly 60 percentof its revenue from overseas business.
[caption id=“attachment_1033467” align=“alignleft” width=“380”]  Reuters[/caption]
Among the flagship Tata firms, overseas investors raisedtheir stake in IT major TCS from 15.67 per cent to 16.09 percent during the three-month period ended September 30.Besides, in Tata Motors the FII holding went up to 26.73percent from 26.59 percent, while the same in Tata Steelrose to 13.56 percent from 13.2 percent and in Tata Powerthe stake jumped to 25.05 percent from 24.78 percent.
“Tata group is the most credible name in the country. Asa group Tata’s are almost in every business industry today.So, FIIs cannot escape them,” said Gajendra Nagpal, CEO &Founder, Augment Financial Services.
The other companies of the salt-to-software conglomeratewhere the FII holding went up include Tata Chemicals, TataCommunications, Tata Elxsi Ltd, Trent, Indian Hotels CompanyLtd, Tata Global Beverages, Rallis India and Titan Industries.Meanwhile, the firms where foreign investors slashedtheir holding include Tata Metaliks, Tata Sponge Iron andVoltas.
FII holding in Tata Metaliks fell to 0.05 percent from0.06 percent, while in Tata Sponge Iron the stake reduced to6.82 percent from 7.72 percent.
Besides, overseas stake in Voltas dipped to 14.47 percent from 18.12 per cent.The benchmark Sensex, had lost one per cent duringJuly-September period.
PTI
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