The top companies added 400,000 retail shareholders by the end of December

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AHMEDABAD: India's top 10 companies added a total of 400,000 retail shareholders during the three-month period ended December, on the back of a bullish stock market. Yes Bank tops retail shareholder additions for fifth consecutive quarter.

The number of companies with over 1 million retail shareholders has increased from 24 to 26 as on September 30, 2023, with fintech major Paytm and public sector NHPC also crossing this important milestone. Paytm had more than 1 million retail shareholders as of June 2023. But it fell in September due to adverse trends, according to data from Capital Line.

By the end of December, the total number of retail shareholders in 2,047 companies stood at 163.8 million, up 2.8 percent quarter-on-quarter and 9.1 percent year-on-year. . For the top 10 companies (based on the number of retail shareholders), it rose 1.3% quarter-on-quarter to 30.02 million, while it rose 9.1% year-on-year. In the three-month period ended December, both the Sensex and the Nifty have gained around 11%, scaling new highs every week.

Reliance Industries, the country's largest private sector company, reported a 2.4% quarter-on-quarter drop in retail shareholders, while HDFC Bank (1.3%) and LIC (6.4%) were the other two in the top 10 list. Yes Bank's retail shareholders increased by 2.2% to 4.91 million in the reported period, while Reliance Industries was second with 3.49 million, followed by ITC with a total of 3.28 million shareholders. From September 30 to December 2023, the order of the top three remained unchanged.

However, Life Insurance Corporation of India, which was at the fourth position as of September, was pushed to the seventh position by the end of December with a total retailer base of 2.87 million. State Bank of India moved up to the fifth position from the previous seventh position with a total of 2.98 million retail shareholders.

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