FII shareholding: 27 stocks see four consecutive quarters of stake hikes; BHEL, Max Financial among top picks

Foreign institutional investors (FIIs) were net buyers of Indian equities worth ₹13,970 crore in the second quarter of the current financial year (Q2 FY27), according to data compiled by the National Securities Depository Ltd (NSDL).

The buying came after FIIs net sold shares worth ₹1,43,150 crore in Q1 FY27 and ₹1,31,122 crore in the final quarter of the previous financial year (Q4 FY26).

Rising bond yields in the United States, depreciation of the Indian rupee, higher crude oil prices, domestic capital gains tax structures, and mixed corporate earnings have dampened the sentiment of foreign investors towards Indian equities, analysts noted.

Meanwhile, flight of funds towards AI and technology-heavy markets have also weighed on the sentiment towards emerging market like India, analysts added.

Despite a subdued trend of FII investors towards Indian markets, they have been consistently raising their stake in 27 companies over the last four quarters, data from Ace Equity showed.

Bharat Heavy Electricals Limited (BHEL)

The FIIs have raised their stake in the company to 9.94% at the end of the second quarter of current financial year from 9.53% stake they owned in the previous quarter.

The FIIs owned 6.23% stake in the company in the September quarter of the previous financial year.

A total of 594 foreign investors falling under the category of foreign portfolio investors category I own stake in the company.

Max Financial Services

Foreign portfolio investors (FPIs) raised their stake in the company to 48.61% at the end of September quarter from 48.06% stake they held in the previous quarter.

They owned 44.78% stake in the company during the September quarter of the previous financial year.

Vanguard Emerging Markets Stock Index Fund, Smallcap World Fund, Vanguard Total International Stock Index Fund, Government Pension Fund Global and Principal Funds - Global Emerging Markets Fund are the prominent FPIs that own stake in the company.

GMR Airports

The FPIs raised their stake in the country's leading airport operator to 22.95% at the end of second quarter from 21.74% stake they held in the previous quarter.

The FPIs held 17.08% stake in the company during the same period last year.

Fidelity Advisor International Capital and GQG Partners Emerging Markets Equity Fund are prominent FPIs that own 1.73% and 1.65% stake respectively in the company.

Bank of Maharashtra

The state-run lender has seen FIIs raise stake in the bank to 6.5% at the end of the September quarter from 5.82% they owned in the previous quarter.

They owned 2.35% stake in the bank in September quarter of the previous financial year.

A total of 205 FPIs falling under the category of foreign portfolio investors category i own stake in the bank.

RR Kabel

The FPIs have raised their stake in the wires and cables maker to 12.51% at the end of September quarter from 10.67% stake they owned in the previous quarter.

The FPIs owned 8.17% stake in the Q2FY26.

Government Pension Fund Global is the prominent FPI that owns a 3.07% stake in the company, data from BSE showed.

Indian Bank, J&K Bank, ONGC, Apar Industries, CCL Products, Biocon, JP Power Ventures, Tata Technologies, LIC, Aether Industries, Tenneco Clean Air, IREDA, Titagarh Rail Systems, Indian Overseas Bank, Honeywell Automation, Lupin, Himadri Speciality Chemical and SAIL are also among the prominent companies that have seen FPIs raise their stake for a fourth quarter in a row.