Reliance Power, ONGC dumped. Sesa Goa, IDFC, LT and Reliance Industries accumulated

As bourses witness a stocks meltdown, Anil Ambani-led Reliance Power and PSU energy giant ONGC are among those seeing the maximum flight of investors from their books.

The stock market's latest entrant from Anil Ambani group is accompanied by two other private sector firms, Orchid Chemicals and Tech Mahindra, among the top ten companies with maximum decline in the number of their shareholders during the latest quarter ended September 30.







However, this league is heavily dominated by the public sector with as many as seven entries, led by the country's most valued PSU firm ONGC and includes Bank of Baroda, NTPC, BPCL, Union Bank, Indian Oil and LIC Housing Finance.

In contrast, there is not a single PSU entity among the top ten firms in which has noted increase in the number of shareholders during the same period.

This league is led by Vedanta group's Sesa Goa and comprises of IDFC, L&T, Mukesh Ambani-led Reliance Industries, Tata Motors, Mercator Lines, Axis Bank, Nagarjuna Fertilisers and Chemicals, Development Credit Bank and Indian Hotels.

However, the total number of companies where number of shareholders went down during the July-September quarter is still below the number of those having registered an increase in the number of their shareholders.

While 190 companies witnessed an increase in the number of their shareholders during the quarter, another 131 firms took a dip on this front among the entities whose latest quarter shareholding pattern is available with the bourses.

Reliance Power, which debuted on bourses earlier this year after India's biggest ever IPO of about three billion dollars, saw the number of its shareholders plunging by 63,931, while ONGC was a distant second at 25,611.

R-Power still remains the country's most widely held company with more than 40 lakh shareholders, the maximum for any Indian entity. Two other Anil Ambani group firms RNRL and Reliance Infra saw an increase in number of their shareholders.

A total of 22 companies have so far reported a fall of more than a thousand shareholders in their books during the quarter including Tata Communications, Indian Bank, Uttam Galva, Cadila Health, Bosch Chassis, Jindal Saw, ACC, Ultra Tech Cement, Rain Commodities, Coromandel Fertilisers, BSEL Infra and Thermax.

Besides, the number of shareholders declined by over 100 in companies like Syndicate Bank, Canara Bank, Mahindra Lifespace, 3i Infotech, Dishman Pharma, OnMobile Global and Emami.

Among the companies witnessing an increase in the number of shareholders, Sesa Goa recorded a surge of 1,22,766 entities on its books, followed by 50,727 for IDFC, L&T's 48,398 shareholders and an addition of 36,453 shareholders for RIL.

Besides, Tata Motors registered an increase of more than 20,000 shareholders and firms like Mercator Lines, Axis Bank, Nagarjuna Fertilisers, DCB and Indian Hotels added 9,000- 17,000 shareholders to their books.

A further seven companies added more than 5,000 shareholders comprising JSW Steel, Lanco Infratech, Gujrat Mineral Development, RNRL, HDFC, GMR Infra and Bombay Dyeing.

About 50 companies recorded an increase of more than 1,000 shareholders and these firms included Reliance Infra, Hotel Leela Ventures, Godrej Industries, Adani Enterprises and Financial Technologies. So far, 114 companies have shown an increase on more than 100 shareholders on their books.

via Asia Pulse