Industry

FIIs hike stake in Reliance Industries to 25.2%

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Foreign institutional investors (FIIs) have raised stake in billionaire Mukesh Ambani-led Reliance Industries to a record 25.2% in the quarter ended September 30, according to the company’s regulatory filing.

Reliance Industries (RIL) on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.

The statement showed FII holding 165.8 crore shares or 25.2% of the total shareholding.

In the previous quarter ended June 30, foreign investors held 163.07 crore shares of 24.72%.

In an investor note, JP Morgan said FII holding in RIL has hit a new high.

“As has been the case now for two years, FII’s stake in RIL hit new highs. Surprisingly, mutual funds’ (MF) stake declined by 25 basis points quarter-on-quarter and was the second straight quarter of stake decline,” it said.

The last time domestic MFs reduced their holding in RIL over two straight quarters was back in 2016, it said adding domestic mutual funds held 5.12% of RIL as of September 30, down from 5.37% in the previous quarter.

Promoters have also upped their stake to 50.49% from 50.37%.

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Printable version | Nov 24, 2020 3:51:50 AM | https://www.thehindu.com/business/Industry/fiis-hike-stake-in-reliance-industries-to-252/article32917221.ece

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