Coforge, IDFC First Bank, and Patanjali Foods witnessed a significant increase in stake by Foreign Portfolio Investors (FPIs) in the September quarter, according to a report by Kotak Institutional Equities. The report also highlighted the highest stake increase by mutual funds in Coforge, Sula Vineyards, and Restaurant Brands Asia, while banks and financial institutions increased their stake the most in Restaurant Brands Asia, Union Bank, and Amara Raja.
On the other hand, the highest decrease in stake by Mutual Funds was observed in Supreme Industries, LIC Housing Finance, and Ashok Leyland, while for Banks and Financial Institutions it was in Dr. Reddy’s Laboratories, Ujjivan Small Finance Bank, and Colgate Palmolive.
In the September 2023 quarter, FPIs bought about $2.4 billion worth of equities in the secondary market, focusing on diversified financials, electric utilities, and IT services stocks, and selling off capital goods and transportation stocks.
Domestic Institutional Investors (DIIs) also bought around $5.1 billion of equities in the September quarter, with a focus on banking, consumer staples, and IT services sectors while divesting from capital goods stocks.
The report also noted that FPI holding in the BSE-200 Index stood at 21.4 per cent in the September quarter, while DII holding in the BSE-200 Index increased to 15.7 per cent from 15.5 per cent in the June quarter.
FPIs were observed to be overweight on banks and real estate but underweight on consumer staples and metals & mining, while Mutual Funds were overweight on automobiles & components and pharmaceuticals, and underweight on consumer staples and oil, gas & consumable fuels.
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