Foreign institutional investors (FIIs) have raised shareholding in Larsen & Toubro (L&T), the India's leading engineering and construction company.

FIIs' shareholding increased 62 basis points to 18.47% at the end of March 2014 quarter from 17.85% as on Dec. 31, 2013.

On the other hand, domestic institutional investors (DIIs) have reduced shareholding in the company to 36.60% at the end of March 2014 quarter from 36.61% as on Dec. 31, 2013.

Under DIIs, financial institutions / banks held maximum stake of 17.10%, followed mutual funds / UTI (14.58% stake), insurance companies (4.88% stake) and central government / state governments (0.04% stake).

Shares of the company declined Rs 17.9, or 1.36%, to settle at Rs 1,296.80. The total volume of shares traded was 164,644 at the BSE (Friday).