FIIs back with a bang; here is a list of stocks they may be buying

Foreign institutional investors (FIIs) are back with a bang in the domestic equity market with net inflow of Rs 33,980 crore in March amid hopes of the Modi government coming back to the power.

Recording highest monthly inflows, FIIs’ gross purchases in Indian equities in FY19 stood at 1,50,057 crore and gross sales at Rs 1,16,076 crore.

They infused more than Rs 51,000 crore in February and March after being net sellers of shares worth Rs 4,262.01 crore in January.

Hemang Jani, Head-Advisory, Sharekhan by BNP ParibasNSE 0.37 %, said the buying was led mainly by FIIs which pumped in over Rs 45,000 core into domestic equities in the past few weeks. “Any rate cuts in developed markets such as the US or Europe may result in steady inflows for emerging markets (EM),” he said.
Nilesh Shah, MD, Kotak AMC, says FII buying is likely to continue even post-election.

If capital flow is any indicator, chances are foreign investors will ramp up exposure to  ..

FIIs increased holdings in as many as 61 BSE-listed companies during the past four successive quarters. They included Adani Transmission, Agro Tech Foods, Amara Raja Batteries, Atul, Au Small Finance Bank, Avenue Supermarts, Century Textiles, ICICI Lombard General Insurance, Indiabulls Ventuers, JSW Holdings, KCP, Jubilant FoodworksNSE 0.37 %, Kiri Industries and Westlife Development.

Domestic brokerages are bullish on some of the stocks mentioned in the list. For instance, HDFC Securities has a ‘buy’ call on Jubilant FoodWorks with a price target of Rs 1,750. Antique Stock Broking is bullish on Sunteck Realty with a target price of Rs 550.

As many as 44 companies on this list advanced up to 35 per cent in last two months, suggesting FIIs could be potential buyers on these counters. Shares of Suven Life Sciences, Sunteck Realty, AstrazenecaNSE -0.23 % Pharma, Tata Co ..

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