FPIs sharply increase their holdings in 5 companies – details

Foreign investors showed more interest in Indian companies in the April-June quarter, which led to a sharp increase in the ownership of these entities in these five companies. This was even after they had been net sellers of stocks for the past nine months before turning into buyers since the end of July this year.

According to data compiled by Prabhudas Lilladher, foreign investors increased their holdings in RHI Magnesita India Ltd to 2.2 percent, compared to 0.64 percent on March 31.

While holdings in Esab India Ltd rose to 0.64 percent from 0.21 percent, in Tata Coffee Ltd. rose to 1.78 percent from 0.71 percent, in Hindustan Copper Ltd. rose to 0.67 percent to 0.31 percent, and in Mangalore the data showed an increase Refinery and Petrochemical Co., Ltd. to 1.6 percent from 0.77 percent.

Apart from this, there are a few other state-owned entities in which the holding of foreign investment enterprises has increased. Like Bank of India, Rashtriya Chemicals and Fertilizers Ltd., among others. Experts believe the rise in holding is due to a shift in interest to the value of the stock.

Foreign investor inflows in Indian stocks have been over Rs 21,000 crore so far from July 28. Foreign investors have turned buyers since late July after being sellers in stocks for nearly 9 months.

Experts believe that foreign investors have returned to the Indian market because India is a preferred destination as the country has the best growth prospects among the world’s major economies. FPIs have converted net buyers in automobiles, capital goods, consumer goods, and telecommunications.

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