 "With rise in fuel prices, FIIs' holdings in OMCs also go up")
In the first quarter of the current financial year, FIIs have scaled up their holdings in several of the government-owned oil companies - downstream or upstream.
In ONGC, for instance, their stake is up 7 basis points (bps) while in HPCL it stands increased to 9.91%, up 16 bps. The counter which has attracted foreign institutions the most is Oil India (OIL).
The company witnessed FII's raising their stake by almost 2%age points during the quarter.
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