HDFC Bank, Patanjali Foods and more: FIIs raised holdings in these 6 Nifty 500 stocks by 5-41% in Q2FY24
₹860 apiece, valuing the stock at 4.5x on Sep’24 BVPS. Among the other stocks FIIs were bullish on in the last quarter was HDFC Bank. In Q2 FY24, FIIs increased their holdings in the bank to 52.1% from 33.4% in Q1 FY24.
DIIs, on the other hand, own a 30.6% stake in the bank as of Q2 FY24. Likewise, GMM Pfaudler, an engineering firm, witnessed its foreign institutional investor holdings surge to a new peak of 26.5% in the September quarter (Q2FY24). In comparison, during the June quarter (Q1FY24), FIIs held 18.8% of the company's shares.
A similar trend was seen when it comes to domestic institutional investors, who increased their holdings to 12.6% in Q2 FY24 from 10.8% in the June quarter of FY24. GMM Pfaudler is a global leader in corrosion-resistant technologies, systems, and services for the chemical, pharmaceutical, food, and energy industries. The company's shares in the last month delivered a return of 4%, and in the last six-month period, they are up by 21%.
Patanjali Foods also experienced an increase in FII holdings, reaching 10.6% in Q2 FY24, a 7.6% increase on a QoQ basis. DIIs and general shareholders, on the other hand, hold 2.2% and 13.3% stake in the company as of Q2 FY24. The company's Q2FY24 business update showed that ongoing pricing pressure in the edible oil segment, primarily due to excessive imports, led to elevated inventory levels, impacting the company's revenue and margins.
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