Foreign portfolio investors reduce stake in 2 out of 3 stocks in Dec qtr

Foreign portfolio investors (FPIs) pruned their shareholding in almost two out of three stocks from the top 200 universe during the recently-concluded December quarter, an analysis of data provided by Capital Line shows.

Of the 144 companies that have disclosed their shareholding pattern, 86 have seen a fall on a quarter-on-quarter basis, 56 have seen an increase, while two have seen no change in FPI stake. The average decline has been 20 basis points.

Pharmaceutical company Ipca Laboratories saw the highest decrease at 608 basis points (bps), followed by private sector lender IndusInd Bank (346 bps) and non-life insurer ICICI Lombard (318