From defense to packaging: Stocks in which FIIs increase/decrease stake in March 2023 quarter

Foreign Institutional Investors (FIIs) are bullish on broader market stocks as they raise stakes in counters like V Mart Retail, JK Paper, Mold Tek Packaging, Orient Cement, The Ramco Cement, and Engineers India among others during the March quarter of the previous fiscal year.

FIIs are investors or investment fund firms that invest in a country outside of the one in which it is registered or headquartered. The term FIIs is probably most used in India, where it refers to outside entities investing in the nation's financial markets.

Most of these stocks, wherein FIIs increased their stake, are also ace investors like Ashish Kacholia, Mukul Agrawal, and Sunil Singhania’s favourite stocks. 

Three stocks in which FIIs are a consistent buyer

JK Paper

FIIs have been incessantly increasing their stakes in JK Paper – a leading paper manufacturing company – for four straight quarters. The foreign investors have increased their stake to 11.5 per cent in the March 2023 quarter from 9.4 per cent in the previous quarter.

The number of foreign investors invested in the company rose to 144 from 136 quarter-on-quarter.

Engineers India

FIIs are also upbeat on Engineers India – an engineering consultancy and technology licensing company – as they have been adding shares of the firm for seven quarters in a row. In March 2023 quarter, FIIs have 7.96 per cent holding as compared to 7.84 per cent in the earlier quarter.

Garware Technical Fibres

Foreign investors have been adding shares in Garware Technical Fibres since the start of the financial year 2022-23 (FY23) as they added a stake in the company for each quarter last fiscal. In March 2023 quarter, FIIs have 8.6 per cent holding against 8.5 per cent in December 2022 quarter.

Two stocks in which FIIs are consistent sellers

Polyplex

For the straight third quarter, FIIs have trimmed their stakes in this Ashish Kacholia favourite stock Polyplex. As many as 135 FIIs are buyers in the company with 12.7 per cent holding in the March quarter of 2023 as compared to 145 FIIs with 13.2 per cent stake in the previous quarter of FY23.

MTAR Technology

FIIs have trimmed a 1.3 per cent stake in this defense stock MTAR Technology, they cut the stake to 2.5 per cent from 3.8 per cent quarter-on-quarter in FY23. 

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.