Foreign Institutional Investors (FIIs) are investors from outside the country who invest in a specific country’s stock market and are regarded as market drivers. Because they make substantial market investments, it may signal the stocks to move in any direction. In addition, It gives insights into overall market sentiments. As a result, Monitoring FII purchases is significant for market participants.
Here are three Mid-cap Stocks in which FIIs increased their stake up to 9.58 % in Q2FY24 from Q1FY24.
Birlasoft Ltd.
On Friday, shares of Birlasoft Ltd were trading at Rs 533.70, up 1.13 percent from the previous close price, with a market value of Rs 14,736 crores.
Foreign institutional investors increased their stake in the company by 6.26 percent,i.e., from 11.31 percent in Q1FY24 to 17.57 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters hold a 40.97 percent stake, while retail investors hold a 22.4 percent stake in the company.
The stock has gained 97 percent in the last six months and 98 percent in the previous year.
Birlasoft Ltd operational revenue has increased by 9 percent yearly, from Rs 1,154 crore in Q1FY23 to Rs 1,262 crore in Q1FY24. During the same period, net profit rose by 14 percent, from Rs 120 crore to Rs 137 crore.
The Company’s return on equity has slightly reduced from 17.94 percent in FY22 to 13.54 percent in FY23, while the return on capital employed rose from 23.12 percent to 17.98 percent during the same period.
Birlasoft provides software development and IT consulting to its customers predominantly in the Banking, Financial Services, and Insurance industries.
Coforge Ltd
Coforge shares were trading at Rs 4,987.80 on Friday, up 1.77 percent from the previous close price, with a market capitalization of Rs 30,705 crores.
Foreign institutional Investors increased their stake in the company by 9.58 percent,i.e., from 24.78 percent in Q1FY24 to 34.36 percent in Q2FY24. As of the September quarter of FY 23-24, Domestic Institutional Investors hold a 54.28 percent stake, while retail investors hold an 11.35 percent stake in the company.
The stock has gained 23 percent in the last six months and 28 percent in the previous year.
Coforge Ltd’s operational revenue has increased by 16 percent yearly, from Rs 1,959 crore in Q2FY23 to Rs 2,276 crore in Q2FY24. During the same period, net profit increased by 15 percent, from Rs 220 crore to Rs 187 crore.
The Company’s return on equity has slightly reduced from 24.21 percent in FY22 to 22.50 percent in FY23, while the return on capital employed rose from 24.54 percent to 27.54 percent during the same period.
Coforge is an IT services company providing end-to-end software solutions and services. The company is engaged in application development and maintenance, managed services, and cloud computing.
Zensar Technologies Ltd.
Zensar Technologies shares were trading at Rs 484.70 on Friday, up 0.80 percent from the previous close price, with a market capitalization of Rs 11,093 crores.
Foreign institutional investors increased their stake in the company by 4.07 percent,i.e., from 12.59 percent in Q1FY24 to 16.66 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters hold a 49.02 percent stake, while retail investors hold a 17.59 percent stake in the company.
The stock has gained returns of 77 percent in the last six months and 128 percent in the previous year.
Zensar Technologies Ltd’s operational revenue has increased by 0.5 percent yearly, from Rs 1,234 crore in Q1FY23 to Rs 1,240 crore in Q1FY24. During the same period, net profit increased by 208 percent, from Rs 56 crore to Rs 173 crore.
In the recent financial year, the company reported a return on equity of 11 percent in FY23, while the return on capital employed was 14.46.
Zensar Technologies is a major provider of digital solutions and technological services. It focuses on industrial sectors such as hi-tech and manufacturing, consumer services, banking and finance, and insurance.
Written by Omkar Chitnis
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