The results season has started where the companies listed on the Indian stock exchange are releasing their Q2FY24 results and other data relating to the company. As per the data available these are the top three mid-cap stocks in which Foreign Institutional Investors (FII’s) have reduced their stake in the last quarter.
Star Health and allied Insurance Company Limited
On November 13, 2023, the shares of Star Health and allied Insurance Company Limited were trading at Rs. 544.80 a piece, down 1.19 percent from its previous day close price of Rs. 551.35 and its market capitalization is Rs. 31,764 Crores.
Foreign Institutions and players have reduced their holding in the company by 2.46 percent from 33.09 percent in Q1FY24 to 30.63 percent in Q2FY24.
In FY23 it has reported a return on equity (ROE) of 12.42 percent and a return on capital employed (ROCE) of 14.83 percent, it is making good returns on its equity and capital employed.
Star Health and Allied Insurance Company is one of the largest private health insurers that provides services in health, personal accident and overseas travel insurance etc , directly as well as through various channels like agents, brokers and online.
ACC Limited
In the day’s trade, the shares of ACC Limited were trading at Rs. 1,822 a piece, down 0.93 percent from its previous day close price of Rs. 1839.15 and its market capitalization is Rs. 31,764 Crores.
Foreign Institutions and players have reduced their holding in the company by 2.88 percent from 9.98 percent in Q1FY24 to 7.10 percent in Q2FY24.
In FY23 it has reported a return on equity (ROE) of 6.22 percent and a return on capital employed (ROCE) of 9 percent, it is making decent returns on its equity and capital employed and its profitability ratios are going down year on year.
ACC Limited is engaged in the business of manufacturing and selling of Cement and Ready Mix Concrete with pan india presence.
Piramal Enterprises Limited
In the same timeframe as above, the shares of Piramal Enterprises Limited were trading at Rs. 942.85 a piece, down 1.07 percent from its previous day close price of Rs. 953.05 and its market capitalization is Rs. 22,508 Crores.
Foreign Institutions and players have reduced their holding in the company by 6.36 percent from 26.04 percent in Q1FY24 to 19.68 percent in Q2FY24.
In FY23 it has reported a return on equity (ROE) of 29.96 percent and a return on capital employed (ROCE) of 11.69 percent, it is making good returns on its equity and capital employed.
Piramal Enterprises Limited is one of India’s leading Non-banking financial companies (NBFC) with a network of 400 branches across 26 states/UT, offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms and investments.
Written by: Bharath K.S
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