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Foreign Institutional Investors (FIIs) increasing their holding stake in certain companies indicate a positive outlook on the company’s performance, management, and prospects, thereby leading to speculation of expected future growth and upcoming changes in the company. 

People choose penny stocks because of the allure of potentially high returns, the ability to buy a large number of shares with a small investment, and the excitement of investing in companies that could experience significant growth. 

Listed below are some of the Penny stocks in which Foreign Institutional Investors have increased their holding in Q4FY24. 

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Pioneer Embroideries 

Pioneer Embroideries Limited is engaged in the business of manufacturing and exporting value-added specialized polyester filament yarn, embroidery, laces, and other garment accessories. 

With a market capitalization of Rs. 124.65 Crores, the shares of Pioneer Embroideries Limited were trading at Rs. 42.30, up 0.88 percent from its previous day’s close price of Rs. 41.93. 

In Q4FY24, the FII/FPI increased their holding in Pioneer Embroideries Limited from 0.00 percent to 8.48 percent by purchasing a fresh 8.48 percent stake. 

Its Revenue from operations grew by 29 percent from Rs. 65.97 Crores in Q3FY23 to Rs. 85.32 Crores in Q3FY24, accompanied by profits of Rs. 17 Lakhs to Rs. 2 Lakhs. 

Celebrity Fashions 

Celebrity Fashions Limited is engaged in the business of manufacturing, designing and exporting all types of textile garments and clothing accessories to many domestic and global multinational brands.

With a market capitalization of Rs. 113 Crores, the shares of Celebrity Fashions Limited were trading at Rs. 20, up 4.77 percent from its previous day’s close price of Rs. 19.09. 

In Q4FY24, the FII/FPI increased their holding in Celebrity Fashions Limited from 11.63 percent to 15.53 percent by purchasing an additional 3.9 percent stake. 

Its Revenue from operations declined by 25 percent from Rs. 95.22 Crores in Q3FY23 to Rs. 71.89 Crores in Q3FY24, accompanied by profits of Rs. 2.5 Crores to Rs. 45 Lakhs. 

AKI India 

AKI India Limited is engaged in the business of manufacturing, designing, and exporting of leather and leather goods and many more like footwear, horse bridles, browbands, crown pieces, pony articles, leather bags, belts finished leather and many others 

With a market capitalization of Rs. 138.88 Crores, the shares of AKI India Limited were at Rs. 20.75, up 3.39 percent from its previous day’s close price of Rs. 20.07. 

In Q4FY24, the FII/FPI increased their holding in AKI India Limited from 0.00 percent to 3.50 percent by purchasing a fresh 3.50 percent stake. 

Its Revenue from operations grew by 44 percent from Rs. 12.23 Crores in Q3FY23 to Rs. 17.57 Crores in Q3FY24, accompanied by profits of Rs. 29 Lakhs in both years. 

Written by: Bharath K.S 

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