Fiis Bring Down Holding In 15 Blue Chips

Much before the SEBI crackdown to limit PN exposure to Indian market, the foreign institutional investors slashed their holdings in some of the country''s biggest blue chips by up to 6% over the past three months. The FIIs brought down their shareholding in as many as 15 companies present in the benchmark Sensex, including Ranbaxy Laboratories, Bharti Airtel, Ambuja Cement, Tata Motors and Mahindra & Mahindra, during the July-September quarter, according to an analysis of shareholding pattern in these companies. In the meantime, foreign investors raised their stake in 11 other Sensex companies, including HDFC Bank, ACC, Larsen & Toubro, HDFC and Reliance Industries, by upto 4%. The investment remained unchanged in the State Bank of India. FII shareholding in Ranbaxy Laboratories reduced to 14.88% in the quarter ended September 30, as compared to 20.71% in the corresponding period last year. Telecom major Bharti Airtel witnessed a decline of over 5% in FII holdings during the reviewed quarter to 26% from 31.5% in the previous there months ended June 30. While Ambuja Cement, Tata Motors and Mahindra and Mahindra saw FIIs reducing their holdings by 4.64%, 2.43 per cent and 2.29 per cent, respectively.