The Government of Singapore has strategically increased its stakes in Indian equity, signalling confidence in the economic development and investment potential of India.
According to the latest corporate shareholdings filed through the stock exchanges, the Government of Singapore publicly holds 50 stocks with a net worth of more than Rs. 2.19 lakh crore.
Here are a few top holdings of the Singapore Government, according to the shareholding data filed with the exchanges.
Power Grid Corporation of India Ltd.
As of December 2023, the Government of Singapore hold stake in the company of around 23.12 crore equity shares, representing 2.49 percent of the equity stake in the company with a holding value of Rs. 6,764.1 crore.
With a market cap of Rs. 2.67 lakh crore, the share price of Power Grid Corporation of India Ltd. moved up by 1.8 percent to close at Rs. 287.65 on Friday, whereas its previous closing price was Rs. 282.55.
The company has given over 50.2 percent returns in the last six months and nearly 74.17 percent in the last one year, whereas, so far in 2024, it delivered positive returns of around 21.0 percent.
The company’s revenue from operations grew by around 2.51 percent QoQ from Rs. 11,267 crore in the Q2 FY23-24 to Rs. 11,550 crore in Q3 FY23-24, accompanied by an increase in the net profit by 6.53 percent QoQ to Rs. 4,028 crore in Q3 FY23-24 from Rs. 3,781 crore in Q2 FY23-24.
Incorporated in 1989, Power Grid Corporation of India Limited is a Maharatna Public Sector Enterprise of the Government of India.
The company is primarily engaged in the business of power transmission and has diversified into the telecom business.
TATA Steel
In the year 1907, Tata Steel was established in India as the first integrated private steel company in Asia and is among the leading global steel companies.
As of February 2024, the Singapore government holds around 20.89 crore equity shares in the company, which is nearly 1.67 percent of the equity stake in Tata Steel Limited, with a holding value of Rs. 3,006.4 crore.
With a market capitalisation of Rs. 1.87 lakh crore, the company’s share price increased by nearly 6.9 percent on Friday to close at Rs. 150.55, whereas its previous closing price was Rs. 140.85.
It has delivered positive returns of over 14.2 percent in the last six months, whereas nearly 43.86 percent in the last one year. So far in 2024, it has given positive returns of around 7.65 percent.
In terms of financials, the revenue from operations of the company reduced by nearly 0.66% QoQ from Rs. 55,682 crore in Q2 FY23-24 to Rs. 55,312 crore in Q3 FY23-24.
The net profit of the company is Rs. 522 crore in Q3 FY23-24, a growth of 108.01 percent on a quarter-on-quarter basis from a loss of Rs. 6,511 crore in Q2 FY23-24.
ICICI Bank
The government of Singapore hold stake of nearly 17.88 crore equity shares or 3.17 percent of the equity stake in the bank with a holding value of Rs. 18,962.6 crore.
With a market cap of Rs. 7.62 lakh crore, the company’s revenue from operations grew by 4.94 percent QoQ to Rs. 40,865 crore in Q3 FY23-24 from Rs. 38,938 crore in Q2 FY23-24.
The bank also witnessed a growth in the net profit by 1.44 percent on a QoQ basis from Rs. 11,351 crore in Q2 FY23-24 to Rs. 11,515 crore in Q3 FY23-24.
The share price of ICICI Bank hit a new 52-week high and rose by nearly 3.18 percent on March 1st to Rs. 1,086.95, whereas its previous closing price was Rs. 1,053.45. The company has given over 12.1 percent returns in the past six months and nearly 27.05 percent in the last one year. So far, it has yielded returns of around 8.6 percent in 2024.
ICICI Bank Limited is an Indian multinational bank and financial services provider and was formed in 1955.
It offers a diverse range of banking and financial services for corporate and retail customers via several delivery channels and specialised subsidiaries in investment banking, life and non-life insurance, venture capital and asset management.
HDFC Bank
The government of Singapore holds around 15..23 crore equity shares, which is around 2.32 percent of the equity stake in HDFC Bank with a holding value of Rs. 21,639.3 crore.
With a market cap of Rs. 10.7 lakh crore, the FIIs have increased holdings by 0.18 percent from 52.13 percent in Q2 FY23-24 to 52.31 percent in Q3 FY23-24.
The company’s share price jumped by 2.02 percent on Friday and closed at Rs. 1,431.15, whereas, its previous closing price was Rs. 1,402.75.
It has given over 9.7 percent of negative returns in the last six months and nearly 9.8 percent in the last one year, whereas, so far in 2024, the bank delivered negative returns of around 15.83 percent.
In terms of financials, the revenue from operations of the company grew by 3.95 percent QoQ from Rs. 75,039 crore in Q2 FY23-24 to Rs. 78,008 crore in Q3 FY23-24.
The net profit of the company is Rs. 17,718 crore in Q3 FY23-24, a growth of 2.34 percent on a quarter-on-quarter basis from Rs. 17,312 crore in Q2 FY23-24.
Written by Shivani Singh
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