ZEE Entertainment to Vishal Mega Mart: FIIs lift stakes in 36 companies for fourth straight quarter

Foreign institutional investors (FIIs) have been net sellers in the Indian equity markets for quite some time now. The FIIs sold shares worth ₹76,619 crore in the second quarter of the current financial year, data compiled by the National Securities Depository Limited (NSDL) showed. So far this year they have been net sellers in the Indian equities to the tune of ₹1,47,383 crore. The persistent selling by FIIs is being absorbed by inflows from the domestic institutional investors.

Despite being net sellers in the equity markets, FIIs have been consistently raising their stakes in 36 companies in the NIFTY500 index, according to data compiled by Ace Equity.

ZEE Entertainment

The foreign investors have been raising their stake in the Mumbai-based media company, and at the end of the second quarter of the current financial year, they held a 25.43% stake. They had a 24.81% stake in the firm at the end of the first quarter, and their holding has significantly increased from the 18.52% stake they had in the second quarter of the previous financial year.

The company's net profit in the second quarter dropped 75% to ₹78 crore as against ₹307 crore logged in the same period last year.

Its revenue from operations declined marginally to ₹1,848 crore.

Navin Fluorine

FIIs have raised their stake in the refrigerant gas maker to 22.15% at the end of Q2 from 18.23% stake they held in the same period last year.

In the previous quarter, FIIs held 21.55% in the company. In the second quarter of the current fiscal year, Navin Fluorine reported a net profit of ₹148 crore in the July-September period, marking an increase of 151% from ₹59 crore in the same period last year.

Its revenue from operations jumped 46% to ₹758 crore as against ₹519 crore in the year-ago period.

GMR Airports

The Delhi International Airport operator has seen FIIs raise their stake in the company to 17.08% at the end of the September quarter from 14.81% stake they held in the second quarter of last year.

The FIIs held a 15.74% stake in the previous quarter.

The company in the September quarter reported that its net loss narrowed to ₹37 crore against a loss of ₹280 crore in the same period last year.

Coromandel International

The fertiliser maker saw FIIs raise their stake in the company to 14.45% at the end of the September quarter as against the 8.33% stake they held in the same period last year.

The company at the end of second quarter of the current financial year reported a net profit of ₹816 crore, up 17% from ₹696 crore at the end of the same period last year.

The company's revenue rose 27% to ₹9,441 crore from ₹7,432 crore.

Vishal Mega Mart

The retail chain operator has seen FIIs raise their stake in the company to 15.4% at the end of second quarter as against the 4.55% stake they held in the same period last year.

Vishal Mega Mart's net profit in the second quarter advanced 46% to ₹152 crore as against ₹104 crore in the year-ago period.

The company reported stable operational performance, as its EBITDA, also known as operating profit, jumped 30% to ₹394 crore, and its EBITDA margin improved by 80 basis points to 13.22%.