FIIs
FIIs took around $50 billion from Indian markets in year 2022/23/24/25 and 2026.
During the same period they took out $113 billion from Korea and $110 billion from Taiwan.
YTD they took out more than $100 billion from Korea and around $40 billion from Taiwan.
Both Taiwan and Korea are at forefront of Chips / Semiconductors.
Now look at from where are they taking and withdrawing money from India.
FIIs has reduced their holdings from top 10 Nifty 50 stocks.
They reduced their holding in
HDFC Bank from 12% to below 6%.
Reliance 9% to 5%.
Infy 6% to 2%
TCS 4% to around 1%
Kotak 3% to 1.5%
Same for Bajaj Fin/ HUL/ HCL/ Asian Paints and Tech Mahindra.
FIIs has more than halved their ownership in these stocks. Many of these stocks are now available at their historical low valuations. But growth in a big concern.
But where has FIIs increased their holdings if valuations of Indian stocks was a concern ?
Eternal from 10% to 31% (a three fold increase). Current PE Multiple is in excess of 100.
HDFC AMC from 10% to 25%( a two and half time increase). Current PE multiple is 35.
Polycab from 5.8% to 18% ( a three fold increase). Current PE multiple is 45.
Max Healthcare from 14.6% to 45% (a three fold increase). Current PE multiple is 48.
GE Vernova from 0.3% to 20%. Current PE is 75
Paytm from 4% to 24%. Current PE multiple is 56.
FIIs ownership has increased above 1% from 900 stocks to 1300 stocks.
Valuations and semiconductor story is part of the story for FIIs activities.
Think deeply and beyond headlines and popular narratives!!!!
Credits: Vijai Mantri Financial Services Pvt. Ltd.
AMFI Registered MFD
1October 8, 2026 1.2K 7
