Wednesday, 24 August 2016
Last updated 14 hours ago
Mar 12 2009 | 4:09am ET
The Children’s Investment Fund has become the largest seller of Indian stocks among foreign institutional investors, a dubious distinction as the British activist hedge fund cuts its investment in the subcontinent.
TCI has sold more 10% of all the stock sold by foreign investors in India this year, valued at US$222.2 million. That’s about one-third of the US$666.6 million in Indian stocks owned by TCI last year.
The hedge fund’s Indian investments have been mostly in banks. TCI this year has cut its stake in the likes of the Punjab National Bank, Union Bank of India, Indian Overseas Bank and Oriental Bank.