Foreign institutional investors hike stake in realty stocks

An analysis of the holding pattern of foreign institutional investors (FIIs) in 22 major realty firms revealed that majority of them raised stake in the April-June quarter compared with their stake in January-March 2007.

FII’s have been reportedly increased in 15 companies, including Unitech, Ansal Housing, DS Kulkarni and Indiabulls Real Estate. FII has decreased their holding in seven companies — DLF, Atlanta, Era Construction, Lok Housing, Mahindra Gesco, Madhucon Projects and Unity Infrastructure.