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.
Dolly Khanna is a well-known Ace investor in the market. As per the latest corporate shareholdings filed, Dolly Khanna publicly holds 18 stocks with a net worth of over Rs. 427.8 Cr.
Here are three Dolly Khanna stocks in which FIIs increased their stake up to 2.88% in Q2FY24 from Q1FY24.
Prakash Industries Ltd.
Prakash Industries shares closed at Rs 183.90 on Friday, down 5 percent from the previous close price, with a market capitalization of Rs 3,293 crores.
Foreign institutional investors increased their stake in the company by 2.78 percent,i.e., from 3.57 percent in Q1FY24 to 6.35 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters hold a 44.24 percent stake, while retail investors hold a 49.38 percent stake in the company.
The stock has gained multibagger returns of 260 percent in the last six months and 273 percent in the previous year.
Prakash Industries Ltd’s operational revenue has increased by 13 percent yearly, from Rs 895 crore in Q1FY23 to Rs 1,013 crore in Q1FY24. During the same period, net profit increased by 107 percent, from Rs 43 crore to Rs 89 crore.
The Company’s return on equity increased from 5.99 percent in FY22 to 6.44 percent in FY23, while the return on capital employed rose from 7.35 percent to 8.12 percent during the same period.
Prakash Industries Ltd is engaged in the business of manufacturing and sale of Steel Products and generation of Power. Product Portfolios include Sponge iron, steel billets, Ferro alloys, wire rods, HB wires, and TMT bars.
Chennai Petroleum Corporation Ltd.
On Friday, shares of Chennai Petroleum Corporation were closed at Rs 544.10, down 9 percent from the previous close price, with a market value of Rs 8,102 crores.
Foreign institutional investors increased their stake in the company by 2.88 percent,i.e., from 8.49 percent in Q1FY24 to 11.37 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters hold a 67.29 percent stake, while retail investors hold a 19.59 percent stake in the company.
The stock has gained multibagger returns of 127 percent in the last six months and 167 percent in the previous year.
Chennai Petroleum Corporation Ltd’s operational revenue has declined by 36 percent yearly, from Rs 23,16 crore in Q1FY23 to Rs 14,744 crore in Q1FY24. During the same period, net profit declined by 76 percent, from Rs 2,358 crore to Rs 548 crore.
The Company’s return on equity increased from 45.26 percent in FY22 to 54.54 percent in FY23, while the return on capital employed rose from 36.75 percent to 54.27 percent during the same period.
Chennai Petroleum Corporation Limited refines crude oil to produce and provide various petroleum products, as well as the production and sale of lubricating oil additives.
NCL Industries Ltd.
NCL Industries shares were trading at Rs 217.75 on Friday, down 0.39 percent from the previous close price, with a market capitalization of Rs 984 crores.
Foreign institutional investors increased their stake in the company by 0.74 percent,i.e., from 3.49 percent in Q1FY24 to 4.23 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters hold a 44.48 percent stake, while retail investors hold a 51.25 percent stake in the company.
The stock has gained returns of 16 percent in the last six months and 22 percent in the previous year.
NCL Industries Ltd’s operational revenue has increased by 13 percent yearly, from Rs 390 crore in Q1FY23 to Rs 440 crore in Q1FY24. During the same period, net profit increased by 150 percent, from Rs 12 crore to Rs 30 crore.
In the recent financial year, the company reported a return on equity of 5.75 percent in FY23, while the return on capital employed to 9.88.
NCL Industries Ltd is principally engaged in the business of manufacturing and selling Cement, Ready Mix Concrete, Cement Bonded Particle Boards, and Doors, and operates two Small Hydro Power projects.
Written by Omkar Chitnis
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