While analysing any company, and taking position, my two main focus areas are fundamentals and technical charts. All other factors like DII/FII, other marquee investors holding, or any other such factor usually is only of secondary concern.
With govt companies, if the holding is more than 75% , then there is a risk of FPO/other forms of stake sale coming through in due course of time. In case of Union bank I think there was some kind of equity dilution few weeks back at around 87 and at that time there was temporary weakness. This was followed by a strong upmove in line with other PSU banks. In the near term the moves in these PSU banks seem a bit overdone, so I think there might be a bit of consolidation.
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