As per market data, foreign investors own about 18-20 per cent of the Indian stock market. Among them, the Foreign Institutional Investors (FIIs) are tracked the most to get a consensus about the sentiments of the foreign investors.
Amid the ongoing volatility in the market here are two multibagger stocks bought by foreign firms:
Deepak Fertilisers
The shares of the company inched up marginally on Tuesday and were trading at Rs 891 levels. In the span of a month, the stock has shed 4 per cent. In January 2022, the stock was trading at Rs 892 a piece on NSE. From there it has spiked up to the current levels thereby delivering a multibagger return of 122% YTD.
The US-based investment advisory firm The Vanguard Group Inc through Vanguard Emerging Markets Stock Index Fund A Series of V I E I F bought 6,88,921 equity shares in the company at an average price of Rs 890.23 per share.
In Q1FY23, the company reported total revenue of Rs 3,031 crores which is up 60 per cent from Rs 1,902 crores in the same quarter a year ago. Their net profit in the quarter under review stood at Rs 435 crores which jumped up from Rs 130 crores in Q1FY22.
The company has a market capitalization of Rs 11,225 crores as of September 20th, 2022 and a dividend yield of 1.01%. The promoters hold a 47.58 per cent stake in the company and have pledged 27.7 stakes.
Deepak Fertilisers and Petrochemicals Corporation Ltd. is among India’s leading producers of fertilisers and industrial chemicals. Its product portfolio ranged from industrial chemicals, bulk and speciality fertilisers, farming diagnostics and solutions, technical ammonium nitrate and value-added real estate.
ELGI Equipments Limited
The shares of the company have gained 3 per cent and were trading at Rs 485 levels till 11.35 am on Tuesday. In a month the stock has been volatile and gained 1.2 per cent. A year ago the shares were trading at Rs 202 a piece on NSE. From there it has spiked up to the current levels logging a multibagger return of 132 per cent.
The US-based firm has bought shares of this multibagger stock as well. Vanguard Group Inc through Vanguard Total International Stock Index Fund bought 27,29,411 equity shares, and Vanguard Emerging Markets Stock Index Fund A Series of V I E I F acquired 28,09,639 equity shares in the company at an average price of Rs 489.2 per share.
In the June quarter of FY23, the company earned a total revenue of Rs 693 crores up from Rs 489 crores in Q1FY22. Their net profit increased multifold to Rs 46 crores in the quarter under review, compared to Rs 11 crores in the same period a year earlier.
The company has a market capitalization of Rs 15,370 crores as of September 20th, 2022 and a dividend yield of 0.24%. The promoters hold a 31.32 per cent stake in the company and have pledged 0.88 stakes.
Elgi Equipments Ltd is engaged in the manufacturing of air compressors and automobile service station equipment. The products manufactured by the company have wide applications in the area of mining, pharmaceuticals, shipbuilding, power, oil, chemicals, textiles, transport, electronics, defence, medical, railways, food and beverages and plastics among others.
Written by Anoushka Roy
Disclaimer
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