FII stake in Divi’s went up from 19.87 % in March 21 to 20.70 % in Sep 21, around the time when the stock price rose from about Rs.3400 to Rs.5400. Thereafter, the FII stake has consistently reduced in the next four quarters to 15.40 % in Sep 22. During this period, the DII stake however increased from 16.36 % in Sep 21 to 20.75 % in Sep 22. So looks like while the FIIs were smart enough to see through the one-off earnings, DIIs have been left holding the lollipop.
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