8 stocks where FPIs bought up to 5% stake in Q4

Interglobe Aviation Ltd (IndiGo), JSW Energy Ltd, Mankind Pharma Ltd, NMDC Ltd and Lupin Ltd were among eight BSE200 stocks where foreign portfolio investors (FPIs) upped stake in the March quarter. Others included Punjab National Bank (PNB), Bharat Heavy Electricals Ltd (BHEL) and  APL Apollo Tubes Ltd, data available for 71 BSE200 companies suggest. All the eight stocks beat Sensex return in 2024 so far, rising up to 47 per cent.

In the case of IndiGo, FPIs bought 4.96 per cent addition stake to take their holding in the airline operator to 23.66 per cent from 18.7 per cent in the December quarter. Mutual fund holding during this period edged 0.08 per cent up at 12.38 per cent. The stock is up 20 per cent year-to-date. Analysts have targets in the range of Rs 3,500-4,300 on the stock.

JSW Energy saw FPIs increasing stake by 484 basis points sequentially to 13.34 per cent in the March quarter from 8.5 per cent in the December quarter. MF holding in his firm stood at 1.11 per cent, up 0.4 per cent QoQ. This stock has rallied 47 per cent year-to-date.

In Mankind Pharma, FPI stake jumped 3.31 percentage points to 9.87 per cent from 6.74 per cent. Mutual funds also upped stake in this drugmaker by 1.02 percentage points to 8.57 per cent from 7.55 per cent. This stock gained 15 per cent in 2024 so far.

NMDC saw FPIs upping stake by 269 basis points QoQ to 12.6 per cent but MFs trimming stake by 248 basis points QoQ to 6.26 per cent. Similar was the case with Lupin Ltd  where FPIs upped stake by 218 basis points sequentially but MFs cut stake by 210 basis points in the comparable period. This stock climbed 15.18 per cent in 2024 so far.

PNB, BHEL and APL Apollo Tubes Ltd saw FPI increasing stakes by 172 basis points, 172 basis points and 1.44 basis points, respectively. PNB shares are up 34 per cent while those of BHEL jumped 30 per cent this year so far. Only APL Apollo Tubes delivered a single digit return of 2 per cent year-to-date. This was still better than 1 per cent rise for the BSE Sensex.