NEW DELHI: March quarter saw both retail and high net-worth individuals (HNIs) try to catch falling knives: they lapped up stocks that kept bleeding amid debt woes, deteriorating fundamentals and corporate governance issues.
Jet Airways, Reliance CommunicationsNSE -5.00 % (RCom) and Dewan Housing Finance Corporation (DHFL) all witnessed brisk buying by the two categories of investors during January-March.
Data showed of the 24 BSE500 stocks, where retail and HNI shareholding went up substantially during the quarter, 14 fell up to 85 per cent during the same period. Only two have managed to beat Sensex’s 8.5 per cent return so far this calendar.
Promoter Anil Ambani's stake in the firm dropped to 21.97 per cent during the quarter from 53.08 per cent at December-end.
Reliance Infrastructure, another Anil Ambani-led Reliance Group (ADAG) stock, has lost two-thirds of its market value year to date. Yet small investors raised their stake in the firm by 4.7 percentage points to 14.4 per cent at the end of March quarter from 9.7 per cent at the end of the previous quarter.
The infrastructure firm was among listed ADAG group companies where L&T Finance and EdelweissNSE -2.89 % Group invoked pledged shares during the quarter. ET in February reported that the group reached an understanding with some lenders to avoid selling any of the pledged shares until September 30.
DHFL, another stock that witnessed severe battering amid liquidity woes, also caught investors’ fancy. HNIs and retail investors together raised their holdings by 6.4 percentage points in ..
Jet Airways, Reliance CommunicationsNSE -5.00 % (RCom) and Dewan Housing Finance Corporation (DHFL) all witnessed brisk buying by the two categories of investors during January-March.
Data showed of the 24 BSE500 stocks, where retail and HNI shareholding went up substantially during the quarter, 14 fell up to 85 per cent during the same period. Only two have managed to beat Sensex’s 8.5 per cent return so far this calendar.
Promoter Anil Ambani's stake in the firm dropped to 21.97 per cent during the quarter from 53.08 per cent at December-end.
Reliance Infrastructure, another Anil Ambani-led Reliance Group (ADAG) stock, has lost two-thirds of its market value year to date. Yet small investors raised their stake in the firm by 4.7 percentage points to 14.4 per cent at the end of March quarter from 9.7 per cent at the end of the previous quarter.
The infrastructure firm was among listed ADAG group companies where L&T Finance and EdelweissNSE -2.89 % Group invoked pledged shares during the quarter. ET in February reported that the group reached an understanding with some lenders to avoid selling any of the pledged shares until September 30.
DHFL, another stock that witnessed severe battering amid liquidity woes, also caught investors’ fancy. HNIs and retail investors together raised their holdings by 6.4 percentage points in ..
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