Top 10 stocks where FPIs raised stakes in two straight quarters; are they worth a look?
Top 10 stocks where FPIs raised stakes in two straight quarters; are they worth a look?
NEW DELHI: Despite robust foreign fund outflows in the last quarter of 2016-17, FPIs have increased holdings in stocks such as HindalcoBSE 0.48 %, Hero MotoCorpBSE 0.25 %, United Breweries, Tata GlobalBSE -1.27 %, RILBSE -0.31 %, Motherson SumiBSE -1.08 %, CiplaBSE 1.26 %, DLF, BPCLBSE 0.08 % and Ultratech CementBSE -0.71 % for the second straight quarter.
On expectations of interest rates hikes by the US Federal Reserve in the coming months, Foreign Portfolio Investors (FPIs) offloaded shares worth Rs 30,726 crore during October-December period. However, they turned net buyer in the ongoing quarter and bought shares worth net Rs 1,768 crore till February 15, according to the data available with depository NSDL.
According to the data available with ICICI Securities, FPIs increased holdings in Hindalco IndustriesBSE 0.48 % from 29.20 per cent in Q1FY17 to 32.30 per cent and 32.40 per cent in Q2 and Q3, respectively. Similarly, they increased holdings in Hero MotoCorp from 41.30 per cent for the quarter ended June 30, 2016 to 43.80 in September 2016. For the quarter ended December 2016, their holding in Hero MotoCorp was 44.10 per cent. (For others see table)
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