Foreign Portfolio Investors (FPIs) have consistently increased their stakes in about 40 companies such as ITC, Raymond and Karnataka Bank among others in the past six quarters, according to data compiled by ET.
They have also been buying stocks like CMS Info Systems, City Union Bank, HAL, AU Small Finance, and Chennai Petroleum. Most of the stocks in which FPIs have increased their stakes have rallied in the past year.
As per analyst consensus estimates compiled by Bloomberg, there might still be room for upside in some of these stocks. FPIs’ favorites stocks, like CMS Info Systems, City Union Bank, Raymond, Spandana Sphoorty, Aptus Value Housing, are expected to give returns of over 20% in a year, according to Bloomberg consensus estimates.
Institutional investors like global funds buying stocks is considered a good indicator of the company’s prospects, but that does not mean these stocks may repeat their past performances in the near term. ET has compiled a list of 15 stocks where FPIs have consistently increased their stakes in the past six quarters