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FIIs press sell button on Reliance stocks

Press Trust Of India/New Delhi 23 Jul 12 | 12:00 AM
 Reliance Industries Ltd
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BSE   28 Nov 14 | 12:00 AM

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Foreign investors have lowered their exposure to the companies from the two Reliance groups, with sale of shares worth an estimated Rs 2,000 crore during the last quarter.

While foreign institutional investors (FIIs ) sold shares worth an estimated Rs 1,500 crore in the two listed companies from the Mukesh Ambani-led Reliance Industries group, they also pared their stake in at least four companies from the Anil Ambani-led Reliance Group during the quarter ended June 30.

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FIIs lowered their stake in Reliance Industries Ltd (RIL) from 17.55 per cent to 17 per cent, while their holding in Reliance Industrial Infrastructure Ltd (RIIL), the second listed company of the Mukesh Ambani-led group, fell from 6.24 per cent to 5.32 per cent.

In the group led by the younger Ambani sibling, Anil, FII holdings have declined in RCom, Reliance Capital, Reliance Broadcast Network and Reliance Media Works. Two other companies from the group, R-Power and R-Infra, are yet to disclose their latest shareholding patterns. While the decline is marginal in all the cases, it is rare that all the companies from the two groups have witnessed a fall at the same time.

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