Top IT Stocks With High FII Holdings: The Indian economy has undergone a radical shift in the last 30 years. The predominantly agrarian economy has now become a world leader in software development, Business Process Outsourcing, and has emerged as the provider of IT solutions. This transformation began as early as the 1990s, with the LPG policies of 1991 that opened India to the world.

These policies opened India to a host of other opportunities. This led to the formation of huge giants and the birth of many innovative startups. Today, In this article, we will take a look at some of the Top IT Stocks with high FII Holdings and analyze their business, financials and more.

Top IT Stocks With High FII Holdings

We will look at when these companies began their journey and the businesses they specialize in. We will then take a brief look at their revenue and net Profits and finally move on to how much stake have FIIs picked up in these Companies and who are the biggest investors.

Top IT Stocks With High FII Holdings #1 – Computer Age Management Systems (CAMS)


CAMS has been the financial infrastructure and services provider to Mutual Funds and other financial institutions for over 25 years. It is the leading Registrar & Transfer Agency (RTA) to India’s Mutual Fund Industry, catering to ~69% of the Average Assets under Management (AUM) as of June 2023. 

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The Company runs its data centers on completely virtualized Hyper-Converged Infrastructure (HCI) and builds and hosts hundreds of Applications & APIs. Its BI platforms power Mutual Fund Industry Analytics. 

Apart from providing RTA services to the Mutual Fund Industry, CAMS also provides a host of other services via its subsidiaries: 

  1. CAMS Investor Services: maintains KYC records of investors on a central database, thereby reducing the need to repeat KYC. 
  2. CAMS Insurance Repository: It provides repository services for the insurance industry.
  3. CAMSPay: Provides the technology and infrastructure to facilitate payments to Mutual Funds, Insurance Providers, and other NBFCs.
  4. CAMSfinserv: It is an RBI Licensed account aggregator that streamlines the sharing of asset information online between Financial Information Users (FIUs) and Financial Information Providers (FIPs). 
  5. Fintuple: It is a new-age startup that offers technology services such as digital client onboarding, eKYC, fund reports, and other digital solutions to AIF & PMS. 
  6. Think Analytics India: It is a full-stack data science & AI-focused firm, focused on creative innovative solutions using AI/ML & mobile cloud computing. 

The Company grew its Net Sales by 7%, from Rs. 927 Cr in FY22 to Rs. 999 Cr in FY23. However, due to a steep rise in expenses, Net Profit de-grew by 1%, falling from 287 Cr in FY22 to Rs. 285 Cr in FY23. Employee Expenses & other operating expenses cost 35.86% & 11.24% of revenue respectively.

The Company ranks on the list of top IT Companies held by foreign investors with FIIs owning 38.61% of the Company. Seafarer Overseas Growth Fund and Fidelity Investment Trust own about 3.23% and 2.87% of the Company respectively. 

CMP2,786.1Market Cap (Cr.)13,687
EPS ₹58.26 Stock P/E40.1
Promoter Holding (%)19.90%FII Holding (%)38.60%
Debt to Equity0.1Price to Book Value14.9
Operating Profit Margin (%)44.50%Net Profit Margin (%)28.50%

Top IT Stocks With High FII Holdings #2 – Cyient

Cyient Logo

Cyient is a global Engineering and Technology Company. The Company operates in 22 countries providing technological solutions to over 300 customers worldwide, which includes 29 Fortune 500 Companies.

The Company caters to areas of Aerospace and Defense, Automotive, Communication, Power Generation, Energy, Geospatial, Heavy Industries, Oil and gas, semiconductors, and a lot more. Cyient works on consulting, designing, building, and maintaining the applications deployed for their customers.

During FY23, the Company acquired two foreign companies Citec and Celfinet. Citec was Cyient’s largest acquisition to date. It is a leader in Plant and Product engineering services with customers across the energy, process, oil, gas, and manufacturing industries. 

The acquisition of Celfinet strengthens the Company’s position as a technology partner with the world’s leading Communication Services Providers (CSP) with end-to-end network planning in the rollout of 5G.

Cyient earns 49% of its Revenue from North America, 30% from Europe, the Middle East & Africa (EMEA), and 21% from the Asia-Pacific Region (APAC). The Company scaled its revenue by 31.22%, increasing from Rs. 4656 Cr to 6097 Cr in FY23.

However, the Net Profit of the Company saw a marginal de-growth of 1.51%, falling from Rs. 523 Cr in FY22 to Rs. 514 Cr in FY23. The fall in profits came as a 33.51% increase in Employee benefit expenses, which were higher than revenue growth.

The Company has the 2nd highest percentage of foreign investors holding 35.71% of the Company. Amansa Holdings Pvt Ltd and Pinebridge Global Funds own about 8.68% and 1.62% of the Company respectively. Many other famous funds such as Vanguard Emerging Markets Fund and Abu Dhabi Investment Authority hold large stakes in the Company.

CMP1,857.55Market Cap (Cr.)20,557
EPS ₹47.03 Stock P/E26.3
Promoter Holding (%)23.20%FII Holding (%)35.70%
Debt to Equity0.26Price to Book Value4.53
Operating Profit Margin (%)18.20%Net Profit Margin (%)9.72%

Top IT Stocks With High FII Holdings #3 – Coforge

Top IT Stocks With High FII Holdings - Coforge logo

Coforge is a leader in product engineering, that designs, consults, operates, and modernizes client systems across the world. It Leverages Cloud, Integration, and automation tech that transforms its client businesses into digital and high-growth enterprises. 

The firm has a presence in 21 countries with 26 delivery centers spread across the US, Europe, the Middle East, India, Asia, and Australia. 

Its products, solutions, and services are supported by partnerships with world-leading software providers such as Microsoft, Amazon Web Services (AWS), Google, Pegasystems, Appian, Salesforce, ServiceNow, and Duck Creek. 

Having established a solid presence in these 3 sectors, the company aims to grow its footprint in Retail/CPG, Healthcare, Hitech, Manufacturing, and Public Sector outside of India.

During FY23, the Company crossed the US$ 1 Billion revenue mark, scaling revenue by 22.4% in constant currency terms. The firm signed 11 large deals through the year, of which 2 were over US$ 50 million and 5 were over US$ 30 million. The executable order book over the next 12 months stands at a record US$ 869 million as of March 31, 2023.

Coforge scaled its revenue by 24.56%, up from Rs. 6484 Cr in FY22 to Rs. 8077 Cr in FY23. During the same period, the Company’s Net Profits saw a marginal growth of 4.25%, growing from Rs. 715 Cr in FY22 to Rs. 745 Cr in FY23.

As of September 2023, Coforge has a FII holding of 34.36% with Smallcap World Fund and JP Morgan Funds owning 4.09% and 1.36% of the Company respectively. Government Pension Fund Global as well as Vanguard Total International Stock Index Fund are also investors in the Company.

CMP5,618.55Market Cap (Cr.)34,608
EPS ₹113.77 Stock P/E43.3
Promoter Holding (%)0.00%FII Holding (%)34.36%
Debt to Equity0.11Price to Book Value9.37
Operating Profit Margin (%)17.50%Net Profit Margin (%)10.10%

Top IT Stocks With High FII Holdings #4 – Infosys

Infosys Logo

Infosys is a global leader in digital services and consulting. It was established in 1981 by Mr Narayan Murthy and six engineers in Pune. The Company successfully secured its first client Data Basics Corporation, in New York the same year.

In 1983, Infosys relocated to Bangalore where it set up its permanent headquarters. In 1987 it opened its first international office in Boston and finally went public in 1993. From its humble beginnings in the early 1980s, Infosys grew into a massive IT giant, building a presence in over 56 countries.

Today Infosys operates multiple platforms under its name such as Edgeverve, Infosys Finnacle, Infosys Live Enterprise suite, Infosys Polycloud, Infosys Equinox, and a lot more. The Company earns most of its revenue from the Financial Services and insurance industries (29.8%), followed by Retail (14.5%) and Communication (12.3%).

The Company earns most of its revenue from North America (61.8%), followed by Europe (25.7%). India and the rest of the world bring in 9.9% and 2.6% of revenue respectively.

As of September 2023, 33.59% of Infosys was held by Foreign Institutional Investors. Government of Singapore & Vanguard Emerging Markets Stock Index fund held about 2.58% & 1.29% of the Company.

CMP1,437.4Market Cap (Cr.)5,96,396
EPS ₹57.63 Stock P/E22.8
Promoter Holding (%)14.90%FII Holding (%)33.60%
Debt to Equity0.11Price to Book Value7.01
Operating Profit Margin (%)24.20%Net Profit Margin (%)16.40%

Top IT Stocks With High FII Holdings #5 – Info Edge (India)

Top IT Stocks With High FII Holdings - Infoedge logo

Info Edge is India’s leading classifieds Company. It has a portfolio of popular internet domains for Online recruitment, Online Real Estate, Online Matrimony, and online educational services. The Company began operations on May 1st, 1995 with the launch of its classified recruitment business

Within 11 Years of starting up multiple online classified businesses, Info Edge listed itself on the exchanges in 2006. Its business portfolio now comprises the following:

  1. Online Recruitment: In this segment, Naukri is the market leader in the online E-Recruitment space. It is also building its presence in foreign markets with the launch of, focused on the Middle Eastern markets. It also offers niche-related services such as,,, and
  2. Matrimony: In this segment,, is among the top three in India’s online matrimonial space, and has offline Jeevansathi Match Points and franchisees.
  3. Education: The Shiksha platform of Info Edge is its educational platform that generates revenue from providing Branding and advertising solutions to Universities. The Company also generates leads for college and its international university partners.
  4. Real Estate: The platform 99acres is India’s largest property marketplace covering almost all the major cities and a large number of agents and developers.
  5. Info Edge has also been an early-stage investor in startups such as Zomato, PB Fintech, Applect Learning Systems and many other startups.

Info Edge earned a Revenue of Rs. 2739 Cr in FY23, which grew by 34.94% from Rs. 2029 Cr in FY22. During the year, the Company reported an exceptional loss of Rs. 510 Cr, due to which it reported a loss of Rs. 70.45 Cr. 

As of September 2023, 31.22% of Info Edge was held by Foreign Institutions, with Nalanda India Equity Fund & Government Pension Fund Global owing 2.98% and 1.46% respectively. 

CMP4,596.9Market Cap (Cr.)59,460
EPS ₹(8.34)Stock P/EN/A
Promoter Holding (%)38.00%FII Holding (%)31.20%
Debt to Equity0.01Price to Book Value2.94
Operating Profit Margin (%)23.40%Net Profit Margin (%)-10.7%%

List of IT Stocks with High FII Holdings

The list below puts together 10 IT stocks with the Highest FII Holdings 

Name CMP Mkt Cap FII Holding (%)
Cyient ₹1,857.55 ₹20,557 25.71%
Coforge ₹5,618.55 ₹34,608 34.36%
Infosys ₹1,437.4 ₹5,96,39633.59%
Info Edge (India) ₹4,596.9 ₹59,46031.21%
Tech Mahindra ₹1,197.85 ₹1,16,970 26.22%
KPIT Tech ₹1,468.75 ₹40,29325.69%
Blue Cloud Softech ₹78 ₹1,673.58 22.93%
Route Mobile ₹1,556.00 ₹9,736.63 21.76%
Persistent Systems₹6,307.05₹48,613.5221.26%


The Indian IT industry has contributed immensely to the growth of the Indian economy as well as the entire world. The Stocks on our list, especially Infosys, Cyient, and Coforge derive a majority of their revenue from foreign markets. This brings a load of US Dollars annually and reduces our Foreign exchange burdens.

Some of these Companies command very high premiums with Price-to-earnings crossing the 40x mark for some Companies on our list. This is due to the asset-light nature and high growth prospects of their business, which leads to higher valuations. However, we should always do more research and enter the stocks at the right intrinsic value. 

So with this, we come to the end of the article hoping to have educated you on these Companies. Do you want us to do a fundamental analysis of any stocks? Do let us know in the comments below.

Written by Nasir Hussain

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