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FIIs trim stakes in GRSE, BDL and 10 more defence stocks in Sept. Why is the firepower lacking?

Foreign institutional investors (FIIs), seemingly less convinced about the India defence story, pared their positions across the segment in the September quarter. They cut stakes in 11 counters on a sequential basis while increasing holdings in six and leaving their position unchanged only in Astra Microwave Products.The steepest FII pullback came in PSU major Garden Reach Shipbuilders & Engineers (GRSE), where holdings dropped 207 bps to 3.26% from 5.33% in June. Another PSU name, Bharat Dynamics (BDL), saw a sharp 134-bps reduction to 2.43%.Among private-sector players, Data Patterns (India) and Paras Defence & Space Technologies recorded notable FII exits, with holdings falling 138 bps and 115 bps, respectively.Others which saw FII stakes fall were Dynamatic Technologies, Bharat

BSE & others make tax sops demand to Fin Min