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Shares of Tata Motors plunged over 2 per cent to Rs 473 apiece on the NSE in Monday’s opening deals ahead of its second-quarter earnings scheduled to be announced today. The auto stock has given multi-bagger return YoY so far by surging around 160 per cent during the period, whereas it is up over 264 per cent in a year.
DII holdings in Nifty stocks increased the most in Dr Reddy’s Labs, Cipla, SBI Life Insurance, Tata Motors, UPL, Hero Motocorp, ITC, IndusInd Bank, HCL Technologies, and Axis Bank up by more than 1 per cent QoQ, a Motilal Oswal report suggested.
In Tata Motors, Domestic Institutional Investors (DIIs) holding increased to 13.4 per cent in September, up 0.2 per cent quarter-on-quarter (QoQ) and 1.8 per cent on a sequential basis. However, FIIs (Foreign institutional investors) pared their stake in the auto major as their holding plunged 2.5 per cent year-on-year (YoY) to 0.9 per cent on a sequential basis.
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Ace investor and stock market trader Rakesh Jhunjhunwala, whose portfolio is tracked closely by the market participants, also marginally pared his stake in Tata Motors. As of September 2021, Jhunjhunwala holds a 1.11 per cent stake in the auto company, which is lower than the 1.14 per cent he had in the April-June period.
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