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Sticking to blue-chip companies is one of the easiest ways to reduce the drawdowns and volatility of the portfolio while securing an average growth rate over the long term. However, as there are many large caps listed on the exchange, it becomes difficult to handpick the good ones.
In that vein, here are 2 large-caps (the top 100 companies in terms of market capitalization) that attracted the highest FIIs’ interest in the June 2023 quarter.
ITC Limited
One of the star performers among all constituents, ITC Ltd (NS:) is an FMCG giant with a market capitalization of INR 5,68,319 crore and its stock price has delivered a high return of 45.2% in the last 12 months. It is the largest player in the cigarette segment in India and has remained so for a long time.
In FY23, the company touched a record-high revenue of INR 73,039.25 crore, while the net income also jumped to the highest ever, at INR 19,191.66 crore. FIIs have consistently bought ITC shares throughout the year, and increased their stake by 3.44% QoQ to 46.76% in June 2023, making ITC their most aggressive large-cap purchase in this period.
Hindustan Aeronautics Limited
Hindustan Aeronautics Ltd (NS:) is one of the strongest players in the defense industry, having a market capitalization of INR 1,25,948 crore. The stock has turned out to be a goldmine for investors as its shares have delivered a staggering return of 73.6% in the last 12 months, partly thanks to the Ukraine-Russia war which triggered the government to spend more on the defense sector.
FIIs are also laughing all the way to the bank as they have continuously bought the stock for the last 5 consecutive quarters, going up from a stake of 4.37% in March 2022 to 11.91% in June 2023. In the preceding quarter, their stake was 9.07%, making it their second-biggest purchase in the June 2023 quarter.
Read More: Rounding Top: Large-Cap Tanks 3% Despite Good Earnings!
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