From 0.80% stake an increase to 1.01%, The news was trending all day on twitter, We need to understand basically that the stake is increased in HDFC Ltd & not HDFC Bank, HDFC Ltd (Housing development financial corporation)
The point here is don’t look it in the Angle of invasion, let us understand who are the holders of HDFC Ltd, Last quarter the biggest institution holder was LIC 🙂 yes Life Insurance Corporation of India, The stake has been increased to 4.67% as against 4.21% from LIC, Invesco developing markets fund is in the second position which slightly decreased its stake, The third is Government of singapore which holds 3.23% more than that which is currently held by People Bank of China, SBI ETF Nifty 50 has increased its stake which is 2.55% and is at the 4th position as an institutional holding, Our ICICI prudential life insurance also holds 1.20% and is also a key institutional holder
HDFC group itself has 70%+ foreign institutional holding in which a stake increase by people bank of China caught everyone eye’s
Mutual funds are holding 9.52%, Insurance companies are holding 8.06%, Guys grow up!!
1929 great depression was also a gift of such negative sentiments on global trade, Just don’t take all this junk news and start commenting
Companies have started Bottom fishing, Identifying right price and great fundamental companies to invest, One such event is this news