Foreign Institutional Investors (FIIs) are considered among the biggest investors in Indian equities. Some prominent FIIs have global exposure, deep pockets, and access to sophisticated data and technologies. Hence, many other investors tend to follow FIIs while picking stocks. In Q2FY24, FIIs increased stakes in select stocks across market caps. Data available from ACE Equity showed that in Q2 as many as 11 stocks saw at least a 10 percentage point jump in shareholding from FIIs.
Five-Star Business Finance: FII stake in this Finance sector company jumped 41.48 percentage points in the recent quarter from 8.74 per cent in the Q1FY24 to 50.22 per cent in Q2. Five-Star Business Finance has a current market cap of Rs 21,333 crore and its stock was trading at Rs 730 apiece on October 30.
Blue Cloud Softech Solutions: In the recent quarter (July-September FY24), FIIs bought a 22.93 per cent stake in this IT sector company. Previously, FIIs had no stake in the stock. Blue Cloud Softech Solutions share was trading at Rs 81.4 with the latest m-cap is Rs 1,775 crore.
JIO Financial Services saw a 21.58 percentage point jump in shareholding from FIIs. Previously, FIIs had no stake in the stock. JIO Financial Services is a recently demerged company earlier it was a part of India’s most valuable stock Reliance Industries. Its stocks were trading at Rs 219 apiece and it had a market cap of Rs 1.39 lakh crore.
NIIT Learning Systems is also a recently demerged stock, where FIIs stake is 18.9 per cent in Q2 after the demerger process. Previously, FIIs had no stake in the stock. Its stock was trading at Rs 390.6 apiece and it had a market cap of Rs 5,241 crore.
HDFC Bank: In India’s biggest private sector lender, in Q2, FIIs increased their stake by 18.75 percentage points to take their total shareholding to 52.13 per cent. It has a current m-cap of Rs 11.27 lakh crore at the latest share price of Rs 1,485.
Senco Gold is a newly listed stock, where FIIs bought a 14.45 per cent stake in Q2. Previously, FIIs had no stake in the stock. Its stock was trading at Rs 660.3 apiece and it had a market cap of Rs 5,128 crore.
Sula Vineyards: In Q2, FIIs increased their shareholding by 13.83 percentage points to take their total shareholding to 20.61 per cent. It has a current m-cap of Rs 3,958 crore at the latest share price of Rs 469.
Updater Services: In this another newly-listed company, FIIs bought a 12.16 per cent stake in Q2. Its stock was trading at Rs 257.6 apiece and it had a market cap of Rs 1,724 crore.
Xpro India, Krishival Foods, and Godrej Industries have also seen FIIs raise their stake by 11.91, 11.55, and 10.39 percentage points, respectively, in Q2.
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