The Hindu Business Line : Foreign holding controls quarter of Sensex m-cap

For every one rupee that the Indian public gained when the Sensex crossed 13K at the end of October, the `foreign' shareholders gained Rs 3. The gain for the Indian public over the first 10 months of this year was Rs 42,000 crore, while the share of foreign holding rose in value by more than Rs 1,26,000 crore.

More importantly, when the index crossed the 13,000-mark market cap of companies in which foreign holding is 50 per cent or more accounted for almost a third of the number of companies and nearly a quarter of the total Sensex value of Rs 16.5 lakh crore.

Topping the list

Top in the list is HDFC with almost four-fifths of its shares held by foreign hands, be they FIIs (foreign institutional investors), holders of American and global depository receipts (ADRs and GDRs), foreign nationals, NRIs (non-resident Indians), or OCBs (overseas corporate bodies). Next comes ICICI Bank, where the foreign holding percentage is nearly three-fourths.

Counting the stake of foreign promoters too, Maruti is in the third spot with 69 per cent and Hindustan Lever, in the fifth place, with 66 per cent. In both these cases, foreign promoter stake is more than 50 per cent. In Gujarat Ambuja Cement, total foreign holding is 57 per cent, including foreign promoter stake of 15 per cent. And in Hero Honda, it is a fifty-fifty situation, between Indian and foreign investors, with about a quarter in the hands of foreign promoters.

In Satyam, foreign holding is at 68 per cent. And in Infosys, it is four per cent above the halfway mark, at 54 per cent. With 53 per cent, HDFC Bank is the last among the Sensex 30 to go past the 50 per cent. In Dr Reddy's Labs, Bharti Airtel and ITC, foreign holding stands at 48 per cent, with only a wafer thin edge for desi shareholders.

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