FPIs now bet on fast-growing midcaps & smallcaps

Foreign portfolio investors (FPIs) have pumped in a record Rs 2.73 lakh crore in Indian equities during FY21. While a major chunk of the money has gone into large-cap stocks, overseas fund managers have been picking up select mid- and small-cap stocks, too. In the past four quarters, 30 mid-cap and 20 small-cap companies have seen a consistent increase in foreign holdings. For instance, in Indiamart Intermesh, their holding has risen from 12.24