Foreign investors trim holdings as rupee depreciates

INSUBCONTINENT EXCLUSIVE:
Stocks with relatively high overseas investor holdings have seen a sell-off in September as foreigners shun emerging market equities like
India
Since September 1, shares of 75 companies, in which foreign institutions have poured money, have declined between 10 per cent and 25 per
cent on an average. Brokers said foreign investors could be trimming their holdings in them, while domestic investors too are rushing to the
exit to pre-empt a large-scale selling
FIIs have sold equities worth Rupees 3,500 crore in the last five trading sessions. According to an ET study, stocks with more than 20 per
cent FPI holding like Adani Transmission, Compton Greaves Consumer, Cholamandalam Investments, V-Mart Retail, Mannapuram Finance and MM
tax imposed on equities