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5 Stocks In Which FIIs Offloaded The Highest Stake In December Qtr.
There has been fear of a continuous rate hike in 2022 by the US Federal Reserve and that too as many as 5 times in the view of Goldman Sachs given the way inflation is panning out in the world's most developed economy. Likewise, India which has been facing the continuous slump across asset classes with Nifty now for the year to date basis turning almost flat as any interest rate hike makes the emerging markets less attractive and hence foreign investors tend to pull out their holdings from these countries.
FIIs holding in Indian stocks:
While we may consider that the stocks with high FII holding may be promising, they even give a sense of high risk as any sharp move or offloading of stake can be risky for the stock. Eventually, a stock with high retail shareholding is promising when going by shareholding pattern. And so, as FIIs or FPIs turn to be continuous net sellers in the Indian markets and have seen the highest outflows in January in 20 months, there is more threat.
So, likewise here are the 5 stocks in which FIIs offloaded the most stake in the December ended quarter.
Just Dial:
This is a small company currently quoting at a price of Rs. 848.6 per share. The company is a local search engine offering loca search services to users across the country through varied platforms including website, mobile website, Apps (Android, iOS), over the telephone (voice, pan India number 8888888888) and text (SMS). The company has also started off with its 'Search Plus' services for its users.
In the December ended quarter, FIIs pared 13.21% stake reducing the stake to just 3.41%. Despite the FII offloading, the company holds several positives including being debt free, healthy RoE and RoCE.
Sequent Scientific:
This is a small cap pharma entity in which FIIs pared over 7% stake in the December ended quarter, bringing down their stake to 6.42%. The company last traded at a price of Rs. 145.75 per share. Since inception in 2002 SeQuent has emerged as an integrated pharmaceutical company with a global footprint, operating in the domains of Animal Health (API and formulation). The company's animal Health business offerings are provided under Alivira Animal Health. The company also cater to unaddressed global market requirements and focus on products for livestock, poultry and companion animals. Our value proposition includes laboratory and technical support services.
The company over the years has reduced its debt to equity stands at 0.27 as of 2021. Also, it has a promoter holding of a high 53.02%. The concerns at the firm are low RoE, low RoCE and low EBITDA margin.
Indian Energy Exchange:
In this energy exchange firm which is also a multibagger the firm has pared 6.73% stake in the December quarter. This is a mid cap concern with a good FII holding of 31%. Top FIIs that have holding in the scrip are WF Asian Reconissance, Small Cap World Fund, AquaMarine Master Fund among others.
Indian Energy Exchange is India's premier energy marketplace, providing a nationwide automated trading platform for the physical delivery of electricity, renewables, and certificates. More recently, IEX has pioneered cross border electricity trade expanding its power market beyond India in an endeavour to create an integrated South Asian Power Market. IEX is powered by state-of-the-art, intuitive and customer centric technology, enabling efficient price discovery and facilitating the ease of power procurement.
IPCA Laboratories:
In this mid-cap pharma major also FIIs pared 6.12 percent stake in the December quarter. And now their holding in the scrip stands at over 12 percent. The leading API manufacturer has presence across continents. The com[ay has 15 APIs and 11 formulation manufacturing facilities globally. And has leading brands in the therapeutic areas of Pain, Rheumatology, Antimalarials and Hair care therapy in India.
PVR:
In this multiplex firm also FIIs offloaded stake of 5.92%, bringing down the stake to 31.91%. Top FII holders in the company include Gray Birch Investment, BOFA Securities Europe, Plenty Private Equity, Kuwait Investment Authority Fund, Societe Generale, Vanguard Emerging Markets Stock Index Fund, Abu Dhabi Investment Authority, Fidelity Investments Trust Fidelity International and Vanguard Total International Stock Index /fund.
The company has a monopoly position in its line of business with the highest number of multiple screens. Also after the severe disruptions faced amid the Covid pandemic, the industry is seen to recover.
