High net worth individuals (HNIs) have made significant moves in the stock market during the June quarter, reducing their holdings in 11 stocks despite these investments delivering double-digit returns. This strategic shift has caught the attention of market analysts and fellow investors alike.

Swiggy Sees Major HNI Exodus

The most notable exit was observed in Swiggy , where HNI shareholding witnessed a dramatic drop from 10.62% to 3.53%. This reduction represents an approximate selling value of Rs 5,400.00 crore, signaling a substantial shift in investor sentiment towards the food delivery giant.

In a related development, Swiggy is now looking to generate Rs 2,500.00 crore through the sale of its stake in Rapido. The food delivery company aims to monetize its investment in the bike taxi service provider, potentially to bolster its financial position or fund new initiatives.

Other Significant Exits

Several other companies also saw considerable reductions in HNI holdings:

• Nitco: HNIs sold shares worth approximately Rs 1,800.00 crore
• Waaree Energies: Despite the stock posting 30% gains, HNIs reduced their position by about Rs 1,400.00 crore
• Nazara Technologies: Investor Rekha Jhunjhunwala fully exited her position

HNIs also trimmed their stakes in Oriental Trimex, Reliance Industries Limited (RIL), RBL Bank, and Nykaa, even though these stocks posted positive returns during the quarter.

HNI Investment Increases

While many stocks saw reduced HNI participation, some benefited from increased interest. Kaveri Defence, for instance, saw HNI ownership surge from 24.61% to 47.99%, indicating strong confidence in the company's prospects.

Overall HNI Market Wealth Growth

Despite these exits, the total market wealth of HNIs grew by 15.5% during the quarter, reaching Rs 9.32 lakh crore. This growth suggests that while HNIs are reallocating their portfolios, their overall market participation remains robust.

Top HNI Holdings

The largest HNI holdings by value include:

Market Outlook

Analysts offer a mixed outlook on earnings, with some sectors showing signs of weakness. However, many remain optimistic about the long-term prospects of the Indian market.

This quarter's HNI movements highlight the dynamic nature of the stock market, where even high-performing stocks can see significant changes in ownership as investors reassess their portfolios and take profits. As always, individual investors are advised to conduct thorough research and consider their own financial goals before making investment decisions.

Swiggy , India's leading food delivery platform, has unveiled its latest innovation, DeskEats, a specialized food delivery service targeting office professionals across the country. This strategic move aims to cater to the unique needs of the corporate workforce, offering convenience and variety to busy professionals.

Extensive Reach and Diverse Offerings

DeskEats is set to transform the office dining experience, with its services extending to:

• 7,000 tech parks, business centers, and corporate complexes
• 30 cities, including major metropolitan areas like Bengaluru, Mumbai, Delhi, and Hyderabad
• Access to 700,000 food items from over 200,000 restaurants

The service introduces curated collections designed to meet various office dining preferences:

1. Value Combos
2. Stress Munchies
3. Healthy Nibbles
4. One-handed Grabbies

Popular Choice and Market Response

During the pilot phase, the 'One-handed Grabbies' collection emerged as the clear favorite among office workers, accounting for 30.00% of total DeskEats orders. This collection focuses on easy-to-eat items that don't require utensils, aligning perfectly with the needs of busy professionals.

Mumbai took the lead as the top city for orders during the testing period, indicating a strong market for office food delivery in the financial capital.

Integration with Corporate Rewards

DeskEats is not just about convenience; it also integrates with Swiggy's existing corporate rewards program. This integration extends the service's reach to:

• 14,000 companies
• 150,000 employees

By tapping into this established network, Swiggy aims to provide added value to both employers and employees.

Focus on Desk-Friendly Options

Understanding the unique constraints of office dining, DeskEats emphasizes food options that are:

• Easy to eat at a desk
• Don't require plates or cutlery

This focus on practicality ensures that professionals can enjoy their meals without disrupting their work environment or schedule.

Swiggy's launch of DeskEats represents a significant step in addressing the specific needs of office workers in India's bustling corporate landscape. By combining variety, convenience, and practicality, the service is poised to reshape how professionals approach their midday meals and snacks. As the platform rolls out across 30 cities, it will be interesting to see how it impacts office dining habits and potentially influences workplace productivity and satisfaction.