equities: With bulls dancing, many more join Street party

equities: With bulls dancing, many more join Street party

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The record-breaking rally in Indian equities in recent years has resulted in investors coming into the stock market in hordes. The broadening of the shareholder base in several stocks is a reflection of the appetite for stocks.

For instance, five stocks, NHPC, Indian Renewable, IRFC, Yes Bank, and HDFC Bank, collectively added 75 lakh investors during the quarter ending March 2024. NHPC led the pack with a substantial influx of 23 lakh new investors.

The government sold a 3.5% stake in NHPC through an offerfor-sale (OFS) in January, and the offer was subscribed 1.4 times. Yes Bank added 11.6 lakh investors, representing nearly 23% of the total additions, while Suzlon Energy saw an addition of 8.4 lakh new investors.

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The shareholder base of nine companies including Indian Renewable, NBCC, SJVN, Alok Industries, Tata Tech, Indian Overseas Bank, South Indian Bank, Power Grid Corp, and Asian Paints, crossed one million during the March quarter. Yes Bank, with 61.55 lakh investors, topped the chart with the highest number of investors, followed by Tata Steel and Tata Motors, with 47.17 lakh and 46.17 lakh investors, respectively. Union Bank added 266 foreign portfolio investors in the March quarter while Punjab National Bank and GMR Airport have added 245 and 237 FPIs during this period

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