FIIs Invest: Despite the decline in the Indian stock market, foreign investors (FIIs) have increased their stake in some cheap shares. This includes many such stocks whose price is less than Rs 35. Let us know about these shares, which may prove interesting for investors.
Bajaj Hindustan Sugar Limited (Bajaj Hindustan Sugar Limited)
In the sugar and ethanol sector, foreign investors have increased their stake in this company from 2.63% to 4.32%. The market cap of the company is Rs 4384 crore and PE ratio is 139.71. This stock has given more than 400 percent returns in the last 5 years. Local institutional investors have also shown interest and hold 7.99% stake. Till the time of writing the news, the share price was Rs 33.67.
Srestha Finvest Ltd
Microcap Penny Stock Shrestha Finvest has attracted the attention of foreign investors. Its price is just Rs 0.63 and FIIs have acquired 0.53% stake in it, which is equivalent to 86,69,122 shares. Low costs and foreign backing make it a potentially attractive option for investors. This is the reason why this stock has entered upper circuit today.
FIIs bought automotive parts and engineering goods maker Pritika Auto Industries Ltd in Q2FY15.
It increased its stake from 4.07% to 7.27%. Its market cap is Rs 406 crore. The stock has touched a low of Rs 22.89 and a high of Rs 53.50 in the last one year. Till the time of writing the news, its share was trading at Rs 26.44.
Mishthan Foods Limited (Mishthan Foods Limited)
Established in 1981, this company has made its place in the production of rice, wheat and other grains. Foreign investors have increased their stake in this company from 2.79% to 5.63%. The company is not burdened with debt and has a market cap of Rs. 1,519 crores. Till the time of writing the news, the price of one share of this company was Rs 14.09.
Increasing stake in these cheap stocks by foreign investors indicates that these companies can perform well in the future. However, before investing, one should check the financial position of the companies and other market conditions.
