Bharat Electronics increases 28 lakh retail shareholders from June

New Delhi: Bharat Electronics Ltd., the state-run defense equipment manufacturer saw retail interest continue to pour in during the September quarter as well. As per the latest shareholding pattern released by the company on BSE, the number of retail shareholders in the company increased by 10% to 27.39 lakh from 24.88 lakh shares in June.

The number of retail shareholders had nearly doubled from the March to the June quarter.

Small retail shareholders, or those with an authorized share capital of less than Rs 2 lakh, now own a 9.75% stake in Bharat Electronics, compared to 9.18% at the end of the June quarter.

Both domestic mutual funds and foreign portfolio investors have marginally trimmed their stake in Bharat Electronics during the September quarter. The stake of Mutual Funds has marginally declined to 15.81% from 16.08% in June, while those of FPIs have come down to 17.27% from 17.43% in the previous quarter.

Shares of Bharat Electronics, in the Nifty 50 index, declined 7% during the September quarter, having risen over 50% during the June quarter and 9.4% between January to March this year.