Foreign Institutional Investors (FIIs) are recognized as market drivers. They are institutional investors from outside the nation who invest in a certain country’s stock market. When they buy shares in bulk it enhances market efficiency, depth, liquidity, and boosts confidence of investors in the business.In addition,It gives insights of the overall market sentiments.As a result, market participants must pay close attention to FII investments.
Here are three stocks below Rs 200 with having high FIIs stake:
Redington Ltd
Redington Ltd is one of the leading makers of information technology, telecommunications, and lifestyle products in India.The company is in the business of managing end-to-end supply chains for IT and non-IT products.
Redington Ltd shares closed at Rs 181.40 on Friday, down 0.27 percent from the previous close price,with a market capitalization of Rs 14,179 crores.
Foreign Institutional Investors currently hold 59.22 percent of the company as of Q1FY23-24,compared to 38.74 percent in the Q1FY22-23.As of the June quarter of FY 23-24, the promoters held 23.36 percent of the firm, while domestic investors held 17.43 percent.
Company’s revenue increased by 27 percent year on year, from Rs 62,644 crore in FY 21-22 to Rs 79,376 crore in FY 22-23. During the same time period, Net Profit increased by 9 percent, rising from Rs 1,314 crore to Rs 1,439 crore.
NCC Ltd
NCC is in the infrastructure business, particularly developing industrial and commercial buildings, highways, water supply and environmental projects, mining, and electricity transmission lines.
On Friday, NCC Ltd shares closed at Rs 148.95, a 7.58 percent increase from the previous close price, with a market value of Rs 9,351 crores.
As of Q1FY23-24, Foreign Institutional Investors owned 22.46 percent of the firm, compared to 9.77 percent in the Q1FY22-23.The promoters owned 43.24 percent of the company as of the June quarter of FY 23-24, while domestic investors owned 12.29 percent.
Revenue climbed by 39 percent year on year, rising from Rs 11,137 crore in FY 21-22 to Rs 15,553 crore in FY 22-23. Net Profit climbed by 29 percent within the same time period, ranging from Rs 492 crore to Rs 635 crore.
Bharat Electronics Ltd.
Bharat Electronics Ltd is engaged in aerospace and defence business in India that specialises in electronic warfare systems, tank electronics, and simulators.
On Friday, shares of Bharat Electronics Ltd closed at Rs 130.15, up 2.28 percent from the previous close price, with a market value of Rs 95,136 crores.
As of Q1FY23-24, Foreign Institutional Investors owned 17.35 percent of the firm compared to 15.99 percent in Q1FY22-23.As of the June quarter of FY 23-24, the promoters held 6.68 percent of the firm, while domestic investors held 24.84 percent.
Company’s revenue increased by 15 percent year on year, from Rs 15,368 crore in FY 21-22 to Rs 17,734 crore in FY 22-23. During the same time period, Net Profit increased by 25 percent, rising from Rs 2,354 crore to Rs 2,940 crore.
Written by Omkar Chitnis
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