Foreign Institutional Investors (FIIs) however, cut their exposure to ten Sensex firms such as Tata Motors, Tata Power, Tata Consultancy Services (TCS), Coal India and HDFC Bank in the January-March period over the previous quarter, the PTI reported. The FII stake in FMCG giant ITC stood unchanged at 19.26 per cent in the three months ended March 31, 2014.
Foreign investors hiked their stake in private sector lender Axis Bank by 5.56 percentage points to 48.74 per cent in the three months ended March 31, 2014, while in HDFC they raised their shareholding by 1.46 percentage points to 75.71 per cent. In state-run power major, NTPC, overseas investors reduced their stake by 0.99 percentage points to 9.33 per cent.
In HDFC Bank, FIIs cut their equity exposure by 0.84 percentage points to 34.08 per cent in the three months ended March 31, 2014.
Foreign investors continue to inject funds into Indian equities amid optimism over the formation of a growth, reform and investor friendly government after the general elections in April and May.
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