Foreign Institutional Investors (FIIs) have increased their stakes by at least 10% in 11 Indian stocks during the second quarter of FY24, according to data from ACE Equity. The largest increase was seen in Five-Star Business Finance, where the FII stake rose from 8.74% to a significant 50.22%. The company, which has a market capitalization of ₹21,333 crore and a stock price of ₹730, led the list.
Following Five-Star Business Finance were Blue Cloud Softech Solutions and JIO Financial Services. FIIs acquired stakes of 22.93% and 21.58%, respectively, in these companies, which have market capitalizations of ₹1,775 crore and ₹1.39 lakh crore.
Post-demerger, NIIT Learning Systems saw an FII stake of 18.9%. HDFC Bank, with a market cap of ₹11.27 lakh crore and a stock price of ₹1,485, also experienced an FII stake increase of 18.75%.
Newly listed companies Senco Gold and Updater Services also attracted FII interest. Senco Gold, with a market cap of ₹5,128 crore, saw FIIs buying a stake of 14.45%, while Updater Services, with a market cap of ₹1,724 crore, saw FIIs acquire a stake of 12.16%.
Other companies that saw increased FII stakes include Sula Vineyards with a market cap of ₹3,958 crore (INR100 crore = approx. USD12 million), Xpro India with an FII stake increase of 11.91%, Krishival Foods with an FII stake increase of 11.55%, and Godrej Industries with an FII stake increase of 10.39%.
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