FIIs buoyant on Tata group stocks

Reflecting robust sentiment on Tata Group companies, foreign investors raised their holding in as many as 13 firms, including biggies like TCS, Tata Motors, Tata Steel and Tata Power in the July-September quarter.

Foreign institutional investors (FIIs) have raised their exposure in 13 out of the 16 major Tata companies in the quarter ended September, 2013, as per the latest shareholding data of these companies.

The $100-billion Tata group garners nearly 60% of its revenue from overseas business.

Among the flagship Tata firms, overseas investors raised their stake in IT major TCS from 15.67% to 16.09% during the three-month period ended September 30.

Besides, in Tata Motors the FII holding went up to 26.73% from 26.59%, while the same in Tata Steel rose to 13.56% from 13.2% and in Tata Power the stake jumped to 25.05% from 24.78%.

"Tata group is the most credible name in the country. As a group Tata's are almost in every business industry today. So, FIIs cannot escape them," said Gajendra Nagpal, CEO & Founder, Augment Financial Services.

The other companies of the salt-to-software conglomerate where the FII holding went up include Tata Chemicals, Tata Communications, Tata Elxsi Ltd, Trent, Indian Hotels Company Ltd, Tata Global Beverages, Rallis India and Titan Industries.

Meanwhile, the firms where foreign investors slashed their holding include Tata Metaliks, Tata Sponge Iron and Voltas.

FII holding in Tata Metaliks fell to 0.05% from 0.06%, while in Tata Sponge Iron the stake reduced to 6.82% from 7.72%.

Besides, overseas stake in Voltas dipped to 14.47% from 18.12%. The benchmark Sensex, had lost one% during July-September period.