Market Updates: Foreign Portfolio investors (FPI) have shown more interest in the Indian companies in the April-June quarter, which led to sharp increase in holding of these entities in these five companies.
This was even after they remained net sellers of equities in last 9 months before turning buyers since end of July this year. According to the data compiled by Prabhudas Lilladher showed, foreign investors increased their holding in RHI Magnesita India Ltd to 2.2 percent, as compared to 0.64 percent as on March 31. At the same time, holdings in Esab India Ltd rose to 0.64 percent from 0.21 percent, in Tata Coffee Ltd it rose to 1.78 percent from 0.71 percent, in Hindustan Copper Ltd it rose to 0.67 percent to 0.31 percent, and in Mangalore Refinery and Petrochemicals Ltd it increased to 1.6 percent from 0.77 percent, data showed.
Apart from this, there are few other state-owned entities where holding of FPIs have increased. Such as India Bank, Rashtriya Chemical and Fertilizers Ltd, among others. Experts believe that rise in holding is due to shift in interest to value stocks. The inflows of foreign portfolio investors in the Indian equities was more than Rs 21,000 crore so far from July 28. Foreign investors turned buyers since late July after remaining sellers in the equities for almost 9 months.
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