FPIs cut stakes in these stocks in Q3, only to find them rally in Jan & Feb
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For this study, only those stocks were considered where FPIs pared stake by more than 100 basis points during the quarter.
Reuters
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NEW DELHI: Foreign portfolio investors (FPIs) seemed to have made a few bad decisions during the December quarter, which cost them some solid returns on a few stocks that climbed up to 60 per cent in the first two months of 2021 compared with a 6 per cent gain in the benchmark Sensex during the same period.
For this study, only those stocks were considered where FPIs pared stake by more than 100 basis points during the quarter. Among them is Greaves Cotton, which saw FPIs pare stake by 628 basis points to 5.01 per cent in December quarter from 11.29 per cent at the end of the September quarter. The stock has rallied 63 per cent in the past two months over December 31’s closing price of Rs 85.10 apiece.
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NEW DELHI: Kalpataru Power Transmission Ltd (KPTL) on Friday said its wholly owned subsidiary in Brazil has signed a definitive agreement to acquire 51 per cent stake in Fasttel Engenharia Ltd in the South American country, for USD 8.80 million (over Rs 64 crore). Kalpataru Power do Brasil Participacoes Ltda has signed a definitive agreement to acquire a controlling stake of 51 per cent in Fasttel Engenharia Ltda,Brazil for USD 8.80 million, subject to customary adjustments, Kalpataru Power Transmission Ltd said in a regulatory filing. Fasttel, founded in 1988, specialises in engineering, procurement, and construction (EPC) and maintenance of power transmission lines, substation and distribution systems across various voltage range up to 750 kV, the company added.