A foreign institutional investor (FII) is an investor or investment fund that is registered in a country other than the one it is investing in. Developing economies have been observed to have the highest volume of FII activities.
Since these economies are dynamically growing, they provide opportunities to investors by offering higher growth potential as compared to other mature economies. In the month of March, overall Foreign Portfolio Investors (FPI) inflows stand at approximately Rs 5,900 crores.
Listed below are 3 Mid-cap stocks in which the FII shareholdings have increased by more than 2 percent on a QoQ basis:
Sona BLW Precision Forgings Limited
Sona BLW Precision Forgings Limited is an automotive technology company that is primarily engaged in manufacturing, designing, and supplying automotive components such as gears, conventional and micro-hybrid starter motors, etc. Geographically, the company derives a majority of its revenue from operations outside India.
As per the latest data available for the March quarter, Foreign Institutional Investors (FIIs) have increased their stake in the company from 11.27 percent in the December quarter to 24.69 percent in the March quarter which exhibits an increase of 13.42 percent.
The company’s stock is currently trading at a price of Rs 465 and has a market capitalization of Rs 27,209 crores.
Syngene International Limited
Syngene International Limited is an Indian contract research and manufacturing organization supporting research and development programs ranging from lead generation to clinical and commercial supplies. It offers services such as Clinical development services, safety assessment, Bioinformatics, etc. The company operates within India, the United States of America, and other countries, of which a majority of revenue is derived from the US markets.
As per the latest data available for the March quarter, Foreign Institutional Investors (FIIs) have increased their stake in the company from 16.85 percent in the December quarter to 23.29 percent in the March quarter which exhibits an increase of 6.44 percent.
The company’s stock is currently trading at a price of Rs 628 and has a market capitalization of Rs 25,198 crores.
Jindal Stainless Limited
Jindal Stainless Limited is an India-based stainless steel manufacturing company that offers products such as stainless steel slabs, hot and cold rolled coils, precision strips, and coin blanks.
The firm has a wide distribution network covering its service centers as well as warehouses in domestic and international markets. The company derives a majority of its revenue from the sale of steel products.
As per the latest data available for the March quarter, Foreign Institutional Investors (FIIs) have increased their stake in the company from 13.05 percent in the December quarter to 21.92 percent in the March quarter which exhibits an increase of 8.87 percent.
The company’s stock is currently trading at a price of Rs 272 and has a market capitalization of Rs 22,426 crores.
Written by Amit Madnani
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