Looking for mid-caps? Check out the stocks FIIs have been bullish on

resr 5paisa Research Team 16th December 2022 - 02:01 pm
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Indian stock indices are consolidating after hitting a new peak even as investors, anticipating a correction form these levels, are shuffling their portfolio.

Foreign portfolio investors (FPIs) or foreign institutional investors (FIIs) had become more cautious about investing in India but they did pump in more money into a clutch of mid-cap stocks over the last few months.

Quarterly shareholding data show they increased their holding in more than 200 listed companies. And in about a fourth of these companies they pushed their stake by 2% or more.

Among these were around 57 mid-cap stocks with current market valuation ranging between Rs 5,000 crore and Rs 20,000 crore.

A sector-wise analysis shows the mid-cap stocks that found offshore buyers are spread across financial services, construction, engineering and industrial, logistics, electrical appliance, and non-ferrous commodities.

Top mid-caps where FIIs bet more

Among the largest mid-caps that saw offshore portfolio investors turn bullish during the three months ended September 30, 2021, are new-age tech firm Happiest Minds, SKF India, GR Infraprojects, Nalco, Alkyl Amines, Blue Dart Express, Carborundum Universal, Metropolis Healthcare and Chambal Fertilisers.

FIIs also bought additional shares of several financial services companies such as CAMS, UTI Asset Management, IIFL Wealth Management and IIFL Finance. Finolex, Welspun India, Quess Corp, Bajaj Electricals, Amber Enterprises, Dhani Services, Narayana Hrudayalaya, Balaji Amines and Graphite India were the other stocks where FIIs bet more.

CAMS, diagnostics chain Metropolis, Welspun India and Graphite India had also seen offshore investors bump up stake in the previous quarter ended June 30.

Mid-caps that saw FIIs buying 2% or more

In the April-June quarter, FIIs had picked up over 2% additional stake in half a dozen mid-caps. But in the second quarter, the investors backed around two dozen companies with a significant stake purchase.

These include state-run aluminium major Nalco, Murugappa group firm Carborundum Universal, Metropolis, Chambal Fertilisers, IIFL Finance, business services and facility management firm Quess Corp, hospital chain Aster DM Healthcare, Indiabulls Real Estate and road developers GR Infraprojects, PNC Infratech and KNR Constructions.

Among others were drugmaker Granules, carbon and graphite maker HEG, JK Lakshmi Cement, Saregama India, Gujarat Narmada Valley, Sterling & Wilson, restaurant chain Barbeque-Nation, GMM Pfaudler, Cera Sanitaryware, Hikal and Olectra Greentech.

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