HAL, Zen Tech to BEL: FIIs raised stake in these five defense stocks in Q1FY24

livemint.com:

Stock market: Defense stocks have been in focus for the few years, especially after the outbreak of Russia-Ukraine war. Both domestic institutional investors (DIIs) and foreign institutional investors (FIIs) have been buying stake in defense stocks. But, during April to June 2023 quarter, FIIs have bough heavily in good number of defense stocks in first quarter of the current financial year.

Here we list out top five defense stocks in which FIIs raised stake during April to June 2023 quarter: As per the HAL shareholding pattern for the first quarter of current financial year, FIIs hold 3,68,62,285 shares, which is 11.02 per cent of total paid up capital of the company. Among major FPIs, Government of Singapore holds 34,60,817 HAL shares or 1.03 per cent stake in this defense stock. Comparing this FIIs' shareholding with January to March 2023 quarter, FIIs used to hold 2,86,87,951 HAL shares or 8.58 per cent stake in the company.

So, FIIs raised stake in this defense stock during April to June 2023 quarter. According to shareholding pattern of Zen Technologies for April to June 2023 quarter, FIIs are shown holding 14,05,080 Zen Tech shares, which is 1.67 per cent of total paid up capital of the company. In January to March 2023 quarter, FIIs were holding 9,67,856 Zen Tech shares or 1.22 per cent stake in this defense company.

As per the shareholding pattern of Bharat Electronics Ltd for Q1FY24, FIIs are shown owning 1,22,28,33,299 BEL shares, which is 16.73 per cent of total paid up capital of the company. Likewise, in previous quarter, FIIs were holding 1,15,69,88,003 BEL shares, which was 15.83 per cent of total paid up capital of the company. This means, FIIs have raised their stake in this defense stock by around 0.90