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3 Small Caps that Remained on FIIs’ Buy List in Q4!

Published 31-05-2023, 02:15 pm

Wrapping up the Q4 FY23 earnings season, here are 3 counters from the small-cap space that remained the favorites of FIIs. To keep a check on the quality of these stocks, they have been picked up from the Nifty Smallcap 100 index.

Jindal Stainless Limited

Jindal Stainless Ltd (NS:JIST) is engaged in the manufacturing of stainless steel, having a market capitalization of INR 23,966 crores. Technically, the company is now midcap, all thanks to a massive rise of 152% in the stock price in the last 12 months, but as it is still in the Nifty Smallcap 100 index, I have included it on this list.

It clocked a noticeable 68% YoY jump in FY23 revenue to INR 35,933.28 crores and a 12.4% YoY increase in net income to INR 2,114.5 crores. The company remained the favorite of FIIs in Q4 FY23, as they ramped up their stake by 9.6% to 22.82%, compared to 13.22% in the December 2022 quarter. No other company in Nifty Smallcap 100 list has garnered such a sharp buying interest by FIIs in this quarter.

Campus Activewear Limited

Campus Activewear Ltd (NS:CAMU) is a well-known India-based sport and athleisure footwear company, having a market capitalization of INR 10,936 crores. It recently completed its 1-year on the NSE and has delivered a negative return of around 14% since then. In FY23, the company garnered a record revenue of INR 1,487 crores over which it secured a profit of INR 117.12 crores.

Despite trading at an expensive valuation, with a P/E ratio of 93.3, FIIs seem to have fallen in love with this stock as they more than doubled their stake in Q4 FY23 to 12.26%, from 6% in the preceding quarter, making it their second most-aggressive purchase in this period. Mutual funds have also inched up their interest, from 5.94% to 6.11% in the same period.

KPIT Technologies Limited

KPIT Technologies Ltd (NS:KPIE) provides IT consultancy services, having a market capitalization of INR 26,865 crores. Again, it has now turned to midcap due to a stupendous rally of 90.6% in the last 12 months. In FY23, the company crossed a milestone of INR 3,000 crore in revenue, to INR 3,047.63 crores, which was a mere INR 676.8 crores in FY19. The net income also surged to INR 380.99 crores, up 38.9% from the previous year.

FIIs showed a keen interest in their counter, ramping up their stake by 3.13% to 23.42%, which is quite a confidence-building move. They must surely be making money in this counter as today as well it jumped to an all-time high of INR 1,069.2.

Read More: 3 Midcaps with HIGHEST MF Holding!

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