Up to 224% rally! Institutional investors lapped up these stocks. Do you own any?
FIIs and DIIs have upped their stakes in Transformers & Rectifiers (India), APSEZ, HUDCO, CSB Bank, IDBI Bank, among other companies
- Jul 16, 2024,
- Updated Jul 16, 2024 1:41 PM IST
Global and local institutional investors together raised their stake in at least 112 listed companies in the June quarter, as per the latest shareholding data available with Ace Equity till July 15. Starting with Transformers & Rectifiers (India), which has gained 224% in 2024 so far, witnessed a substantial hike in stakes by foreign institutional investors (FIIs) and domestic institutional investors (DIIs). As of June 30, DIIs held a 4.77% stake in the company against 1.89% in the preceding quarter (Q4FY24). On the other hand, FIIs raised their stake to 8% from 4.45% during the same period. Housing & Urban Development Corporation, Mazagon Dock Shipbuilders, Puravankara, Dredging Corporation of India, Yuken India, Hindustan Zinc, SMS Pharmaceuticals, Sharda Motor Industries, and Kirloskar Oil Engines are next on the list. Shares of these companies have also gained somewhere between 100%-170% in 2024 till July 15. Domestic and foreign institutional investors raised their stake in these companies during the April-June quarter. Brokerage Nirmal Bang Equities recently initiated coverage on Housing and Urban Development Corporation (HUDCO) with a ‘buy’ rating and set a target price of Rs 375. Shares of the company traded at Rs 336 in the afternoon on July 16. “We have estimated HUDCO’s earnings to grow at a CAGR of 24.1% over FY24-FY26 on the back of 22.1% AUM CAGR, 30 bps improvement in NIM, stable opex costs and near zero credit costs. This will result in RoA and RoE of 2.6% and 16.9% in FY26. Due to its niche position in social housing & urban infrastructure financing, its ability to grow faster due to its robust capital position, improving margins, and low risk on the balance sheet, the company’s premium valuations should sustain,” Nirmal Bang Equities said in a report. Adani Ports and Special Economic Zone also managed to attract FIIs and DIIs during the quarter. Where FIIs raised their stake to 15.19% as of June 30 from 14.98% earlier, DII upped their stake to 3.46% from 3.11%. On a year-to-date basis, shares of Adani Ports have gained 46% till date. Motilal Oswal Financial Services is bullish on Adani Ports and Special Economic Zone (APSEZ) with a target price of Rs 1,700. The scrip traded at Rs 1,498 at around 12.50 pm (IST) on July 16. “APSEZ ended FY24 on a strong note with over 20% volume growth. The outlook remains bright, and growth momentum is likely to sustain as APSEZ continues to gain market share from other operators and grow at twice the industry growth rate,” Motilal Oswal Financial Services said. Affle (India), Alkyl Amines Chemicals, Amber Enterprises India, AMI Organics, Anant Raj, APL Apollo Tubes, Aptus Value Housing Finance India, Archean Chemical Industries, Artemis Medicare Services, Ashoka Buildcon, Astral and Avalon Technologies stood among other major players in which institutional investors raised their stake in June quarter. Global brokerage Citi recently initiated coverage on Affle (India) with a ‘buy’ rating and set a target price of Rs 1,600. “Affle is well positioned to benefit from recovery in mobile-ad budgets for user acquisitions across digital-first and omnichannel businesses in India/EM and its RoE focused M&A strategy (recent acquisition: YouAppi) should see business turnaround in large developed markets like the US,” it said. From the banking sector, these investors raised their holdings in CSB Bank, IDBI Bank, Indian Bank and Utkarsh Small Finance Bank. Among the other major names, Bajaj Hindusthan Sugar, Campus Activewear, Capri Global Capital, Castrol India, Cello World, Concord Biotech, Deepak Nitrite, Emami, Escorts Kubota, Fiem Industries, Five-Star Business Finance, Gland Pharma, Glaxosmithkline Pharmaceuticals, GMM Pfaudler, Havells India, HDFC AMC, Honasa Consumer, Indian Metals & Ferro Alloys, Mazagon Dock Shipbuilders, MSTC, Puravankara, SJVN, Sterlite Technologies, TARC, Tata Technologies, Tide Water Oil Company (India) and Vedanta also attracted FIIs and DIIs during the quarter gone by.
Global and local institutional investors together raised their stake in at least 112 listed companies in the June quarter, as per the latest shareholding data available with Ace Equity till July 15. Starting with Transformers & Rectifiers (India), which has gained 224% in 2024 so far, witnessed a substantial hike in stakes by foreign institutional investors (FIIs) and domestic institutional investors (DIIs). As of June 30, DIIs held a 4.77% stake in the company against 1.89% in the preceding quarter (Q4FY24). On the other hand, FIIs raised their stake to 8% from 4.45% during the same period. Housing & Urban Development Corporation, Mazagon Dock Shipbuilders, Puravankara, Dredging Corporation of India, Yuken India, Hindustan Zinc, SMS Pharmaceuticals, Sharda Motor Industries, and Kirloskar Oil Engines are next on the list. Shares of these companies have also gained somewhere between 100%-170% in 2024 till July 15. Domestic and foreign institutional investors raised their stake in these companies during the April-June quarter. Brokerage Nirmal Bang Equities recently initiated coverage on Housing and Urban Development Corporation (HUDCO) with a ‘buy’ rating and set a target price of Rs 375. Shares of the company traded at Rs 336 in the afternoon on July 16. “We have estimated HUDCO’s earnings to grow at a CAGR of 24.1% over FY24-FY26 on the back of 22.1% AUM CAGR, 30 bps improvement in NIM, stable opex costs and near zero credit costs. This will result in RoA and RoE of 2.6% and 16.9% in FY26. Due to its niche position in social housing & urban infrastructure financing, its ability to grow faster due to its robust capital position, improving margins, and low risk on the balance sheet, the company’s premium valuations should sustain,” Nirmal Bang Equities said in a report. Adani Ports and Special Economic Zone also managed to attract FIIs and DIIs during the quarter. Where FIIs raised their stake to 15.19% as of June 30 from 14.98% earlier, DII upped their stake to 3.46% from 3.11%. On a year-to-date basis, shares of Adani Ports have gained 46% till date. Motilal Oswal Financial Services is bullish on Adani Ports and Special Economic Zone (APSEZ) with a target price of Rs 1,700. The scrip traded at Rs 1,498 at around 12.50 pm (IST) on July 16. “APSEZ ended FY24 on a strong note with over 20% volume growth. The outlook remains bright, and growth momentum is likely to sustain as APSEZ continues to gain market share from other operators and grow at twice the industry growth rate,” Motilal Oswal Financial Services said. Affle (India), Alkyl Amines Chemicals, Amber Enterprises India, AMI Organics, Anant Raj, APL Apollo Tubes, Aptus Value Housing Finance India, Archean Chemical Industries, Artemis Medicare Services, Ashoka Buildcon, Astral and Avalon Technologies stood among other major players in which institutional investors raised their stake in June quarter. Global brokerage Citi recently initiated coverage on Affle (India) with a ‘buy’ rating and set a target price of Rs 1,600. “Affle is well positioned to benefit from recovery in mobile-ad budgets for user acquisitions across digital-first and omnichannel businesses in India/EM and its RoE focused M&A strategy (recent acquisition: YouAppi) should see business turnaround in large developed markets like the US,” it said. From the banking sector, these investors raised their holdings in CSB Bank, IDBI Bank, Indian Bank and Utkarsh Small Finance Bank. Among the other major names, Bajaj Hindusthan Sugar, Campus Activewear, Capri Global Capital, Castrol India, Cello World, Concord Biotech, Deepak Nitrite, Emami, Escorts Kubota, Fiem Industries, Five-Star Business Finance, Gland Pharma, Glaxosmithkline Pharmaceuticals, GMM Pfaudler, Havells India, HDFC AMC, Honasa Consumer, Indian Metals & Ferro Alloys, Mazagon Dock Shipbuilders, MSTC, Puravankara, SJVN, Sterlite Technologies, TARC, Tata Technologies, Tide Water Oil Company (India) and Vedanta also attracted FIIs and DIIs during the quarter gone by.