FIIs increase Stake in Reliance, Stock Up

Oct 23 2020 10:32 AM
FIIs increase Stake in Reliance, Stock Up

According to the according to the Reliance’s regulatory filing made in the Stock Exchanges, it reports that Foreign Institutional Investors or FIIs have increased shares in Mukesh Ambani-led Reliance Industries Limited to a spectacular 25.2 percent in the quarter ended September 30.  

Reliance Industries Limited on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30. The statement indicated that  Foreign Institutional Investors holding 165.8 crore shares or 25.2 percent of the total shareholding. In the last quarter ended June 30, foreign investors held 163.07-Cr shares of 24.72 percent.

According to JP Morgan Market Investment Bank’s statement, Foreign Institutional Investors holding in Reliance Industries has hit a new high. Notably, mutual funds' (MF) stake declined by 25 bps quarter-on-quarter (QoQ) and was the second consecutive quarter of stake decline. The last time domestic mutual funds reduced their holding in Reliance over two consecutive quarters was back in 2016. It is further noted that domestic mutual funds held 5.12 percent of Reliance as of September 30, down from 5.37 percent in the previous quarter. Promoters have also increased their stake to 50.49 percent from 50.37 percent. With this development, shares of Reliance Industries is trading in National Stock Exchange, today, (Friday), during the mid-morning session at Rs.2128.75 per share, higher by 1.03% or Rs21.80 from the previous closing.

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