Foreign institutional investors (FIIs) have raised their stakes in more than a dozen non-banking financial companies (NBFCs) even as domestic fund managers are steering clear due to liquidity concerns in the sector.
According to an analysis of data of the BSE-500 companies, FIIs have raised stakes in 20 of the 30 listed NBFCs in the March quarter (q-o-q or sequential basis). Meanwhile, mutual funds have trimmed stake in 18 NBFCs. “The valuation of NBFCs had turned quite attractive and that is what prompted FIIs to raise their positions in the sector,” said Gautam ...
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