FIIs pump in Rs 3,500 cr through 62 bulk deals in April, May

Mumbai, June 1 (PTI) With FIIs getting back the voracious
appetite for Indian stocks, they have put in over Rs 3,500
crore through just 62 bulk deals on the Bombay Stock Exchange
in the first two months of the current financial year.

According to an analysis of bulk deals on the exchange in
April and May this year, Foreign Institutional investors'
(FII) transacted as many as 62 bulk deals buying shares worth
Rs 3,516.61 crore, with the biggest deal being the sale of
ver five per cent stake in DLF for Rs 2,106 crore.
Three foreign institutional investors -- Deutsche
Securities Mauritius, Euro Pacific Growth Fund and Copthall
Mauritius Investment -- invested as much as Rs 2,106.1 crore
in DLF for buying 9.15 crore shares representing 5.39 per
cent stake in the realty firm last month.

A bulk deal refers to a transaction which involves buying
or selling of more than 0.5 per cent of the number of equity
shares of any listed company.

Other key bulk deals in the period include those of
private sector lender HDFC and commercial vehicle maker Eicher
Motors.

FIIs have turned positive from the starting of the
current fiscal year, pouring in Rs 6,500 crore in April and Rs
20,117 crore ($4.1 billion) in the month of May, making the
total of $4.2 billion (around Rs 20,473 crore) to date.

Other FII's which invested in the stocks include Goldman
Sachs Investment Mauritius, Sansar Capital Mauritius and
Deutsche Securities Mauritius.

The stocks which saw buying from the FIIs are Eicher
Motors, Vijay Mallya-led United Breweries, HDFC, Aban
Offshore, Adlabs Films, Merk, HDFC Bank.

Meanwhile, according to a recent research report, domestic
mutual funds are shying away from bulk deals involving large
chunks of shares while investing in equity markets as they
prefer to retain the confidentiality of transactions.

According to data compiled by SMC Capitals, during the
period from 2006 to April 2009, the volume traded on the bulk
deal counter of the stock exchanges stood at Rs 5,00,500
crore, but the mutual funds accounted for just three per cent
of the total transactions. PTI AKH
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