Top 5 Companies: FIIs Decrease their Stakes for the last 4 quarters

A Couple of weeks ago we had looked at the top 5 companies where FIIs have increased their stake in the last 4 quarters starting from the December Quarter of 2011. In this article we are looking at the flipside. Here are the top 5 companies where FIIs have scaled down their stake over the same period of 4 quarters starting with the December quarter of 2011. As is our practice, we have applied a small filter. We have considered companies which have an equity capital of more than Rs 50 crore and a market capitalisation of more than Rs 100 crore. Read on to know more…..

FIIs have been losing interest in Jain Irrigation and they have continuously brought down their stake in this company over the last four quarters. At the end of the December quarter of 2011 FIIs held 55.37% on the company. This has come down to 46% in the recently concluded Q2FY13.On a YTD basis the scrip is down 14.02%.

Dhanlaxmi Bank: Kerala based Dhanlaxmi Bank is a private sector banking company established way back in 1927. It provides a wide range of banking solutions and services. As of March 31, 2012, it had 268 branches, 400 ATMs, and 12 processing centers, which we suppose would have gone up in this year. As of FY12 the total asset base of the bank stood at Rs 14700 crore and the CAR as per Basel II norms stands at 9.49%, with a Tier I ratio of 7.42%.

As of September 2012, FIIs had held 27.77% of the company, which has witnessed a continuous decline over the last four quarters. As of December 2011 the FII stake stood at 33.55%. On a YTD basis the scrip has yielded a return of 51.11%.

Karuturi Global: Karuturi Global is a leading producer of cut roses with operations spread across Ethiopia, Kenya and India. With an area of over 292 hectares under Greenhouse cultivation, it annually produces around 555 million stems of quality cut roses, essentially for exports to high-value markets. The company has taken up cultivation in Ethiopia on a mega scale to become a key player in the global agro-products market. Other business interest for the company includes food processing, floriculture retailing, and information technology.

With a negative return of 24.94% on a YTD basis the stock has witnessed steady offloading of by FIIs. As of December 2011 the FII stake stood at 28.04% which decreased to 24.03% as of September 2012.

IVRCL: The Company engages in the development and execution of engineering, procurement and construction projects. It is also into commissioning of lump sum turnkey facilities in various infrastructure projects in India, Sri Lanka, the Middle East, Kenya, and Nepal.

The company has seen the highest offloading by FIIs over the last four quarters They have brought down their stake from 37.11% as of December 2011 to 23.44% as of September 2012. On a YTD basis the stock has returned 56.11%.

Nitesh Estates: Nitesh Estates is a property development company headquartered in Bangalore. Founded in the year 2004 it has a presence in development of office and residential buildings, hotels and shopping malls. It has brought more than 18 million sq ft of space under development and has plans to expand its operations in other cities as well. The Company has now expanded its operations into Goa, Chennai and Cochin too.

As of December 2011, FIIs were holding around 20.61% of the company’s capital. But it has witnessed an offloading of stake by the FIIs who at the end of September 2012 are holding only 19.05% of it. On a YTD basis the scrip has yielded a return of 23.66%.