Retail and high net worth individual HNIs both increased their holdings in at least 68 firms in March when the BSE Sensex tanked more than 3 per cent due to lingering worries about rising inflation and sustained outflows of foreign institutional investors.
Initial shareholding data showed that retail investors holding nominal share capital up to Rs 2 lakh and HNIs holding nominal share capital up over Rs 2 lakh both lapped up billionaire Gautam Adani's Adani Green Energy, Adani Ports and Special Economic Zone, Adani Transmission and NDTV during the quarter.
Retail investors held a 2.33 percent stake in Adani Green in Q4 and Q3 FY23, compared to 1.06 percent in Q3 FY 23. Likewise, HNIs raised their holdings in the company to 0.45 per cent from 0.38 per cent. Their combined holdings in Adani Ports rose to 6.96 per cent from 2.55 per cent. On the other hand, their shares in Adani Transmission rose to 2.13 per cent from 0.71 per cent.
HNIs also added a further boost of 4.48 per cent, up from 3.92 per cent earlier in the year.
Shares of Adani group firm experienced heavy correction in Q4 after a report by Hindenburg Research on January 24 accused the group of stock manipulation, running offshore shell companies for round-tripping and misusing corporate governance practices.
In the past quarter, select banking firms have managed to attract individual investors who may have been unwelcomed. The value of retail investors at The Jammu Kashmir Bank rose to 23.13 percent from 18.11 percent in the December quarter. Likewise, the HNIs' holding in the bank rose to 3.07 per cent from 3.01 per cent. Investors also raised their holdings of Canara Bank and Axis Bank during the quarter.
Mahalaxmi Rubtech, Fiem industries, Upsurge Investment Finance, JMD Ventures, Sambandam Spinning Mills, SoftTech Engineers, Upsurge Investment Finance, Easun Capital Markets, Kuantum Papers, Panorama Studios International, Synergy Green Industries, 20 Microns and Emami were among other significant firms in which retail investors and HNIs increased their stake in Q4.
In March, Fertilizers players like Madras Fertilizers, Gujarat Narmada Valley Fertilizers Chemicals and Gujarat State Fertilizers Chemicals also witnessed a hike in stakes from retail and HNIs investors.