New Delhi, March 16 (SocialNews.XYZ) Amid the massive foreign fund outflows, few domestic stocks such as Chambal Fertiliser, Hindustan Petroleum Corporation and ACC, among some others, have attracted foreign investors' attention.
Healthy fundamentals and sector-specific outlook of these companies have made them prime targets for foreign investors.
Bharat Electronics, HFCL, Lakshmi Machine Works, Piramal Enterprises, Sundram Fasteners, Supreme Petrochem, and P&G Hygiene and Health Care also saw a rise in foreign investors' shareholding in the recent quarters.
Notably, the investment trend comes at a time when the overall sell-off by the foreign investors in Indian equities have been continuing in the recent months.
For Bharat Electronics, the FIIs raised their stake to 17.2 per cent in the company from 11.6 per cent four quarters back, said Ajit Mishra, VP-Research at Religare Broking.
The FIIs are important as they play a critical role in the Indian equities.
Retail as well as institutional investors keep a close watch on the shareholding pattern, as increasing shareholding is a positive sign and vice-versa.
These stocks are fundamentally sound and have good long-term growth potential, Mishra said.
According to reports, the current sell-off by foreign portfolio investors (FPIs) in Indian equities is turning out to be the highest selling spree since the global financial crisis of 2008.
Sectorally, bulk of the FPI selling over the past 12 months has been concentrated around IT, banks, NBFCs and industrials.
Source: IANS
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