Data show that eight of the top 10 FPI-owned stocks declined institutional exposure in the March quarter.
The biggest cut was seen in the largest FPI-heavy stock HDFC, which fell 295 basis points to 69.19 percent. The investor class reduced its stake by 359 basis points
Group firm in the last four quarters.
Shares of mortgage lenders fell 28 percent from their 52-week high of Rs 3,021.1 on November 15, 2021. According to Trendline, the stock has an average price target of Rs 3,122, suggesting a possible 45 per cent rise.
The second most FPI-heavy stock
FPIs saw their shares rise 73 basis points to 53.88 percent. They have actually reduced their shares in the company by 713 basis points in the last four quarters. This scrip, at Rs 1,065 per ounce, fell 37 per cent from a 52-week high of Rs 1,696.4.
The third highest FPI-heavy stock
On November 26, 2021, the 52-week high fell by 39 per cent to Rs 5,935.40. FPIs cut 160 basis points to 50.81 percent in the March quarter and 370 basis points in the last four quarters.
ITC and 5 other big caps where FPIs increased their share by at least 150 bps in Q4
New Delhi: Hindalco Industries, Cipla and ITC were among the top six BSE100 caps, with foreign portfolio investors (FPIs) gaining at least 150 basis points in the March quarter. The quarter was marked by huge foreign inflows, which stood at Rs 1.10 trillion, thanks to the strengthening of the US dollar and concerns over emerging market equities in light of rising global inflation. The average price target of many of these stocks suggests a possible rise.
The data shows that foreign inflows so far in 2022 were Rs 1,44,565 crore. This is in addition to the outflow of Rs 38,521 crore seen in the last three months of 2021.
“I’m not going to look at FPI outflows in isolation. It’s about growth versus price because FPIs are grossly more owned in growth stocks and that trend has been reversed. The stocks have declined in terms of ownership and their ownership will gradually increase in value stocks, “Sandeep Tandon, CIO – told Quantum Mutual Fund ET NOW.
,,, And other top FPI heavy stocks in the BSE500 pack, which were on the sales radar.
All other stocks witnessed a 14-435 basis point fall in FPI shares in the March quarter.
The IRB fell 45 percent from its 52-week high; ZEE is down 37 percent; Axis Bank down 25 percent; IndusInd Bank 29.48 percent; Kotak 21 percent; ICICI Bank 19 percent; And the Aavas are 36 percent lower than their respective 52-week highs.
These stocks, excluding IRB, have reduced their FPI share by 16.23 percentage points in the last four quarters.
(Disclaimer: The recommendations, suggestions, opinions and opinions offered by the experts are their own. These do not represent the views of the Economic Times)