Few shares where FIIs reduced stake in Q3FY22

Foreign institutional investors reduced stakes to the tune of 5-6.7 per cent in the Indian Energy Exchange, IPCA Laboratories, PVR, Strides Pharma Science, and Zee Entertainment shares quarter-on-quarter during Q3FY22, exchange data showed.

The Indian equity segment has been witnessing a consistent sell-off by the FIIs recently.

As per reports, FIIs sold over $7 billion worth of equities so far in 2022, and over $11 billion since October 2021.

Further, FIIs reduced 4.1 per cent stake in Mahanagar Gas, 3.9 per cent in Axis Bank, and 3.8 per cent in Indusind Bank, exchange data revealed.

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In SBI Cards and Payments, Hero Motocorp, Grasim Industries, Deepak Nitrite, ICICI Bank, and REC, they reduced stakes by 2-3 per cent.