Foreign Portfolio Investors (FPIs) pulled a substantial ₹53,022 crore from the Indian equity markets in June 2026, marking an increase from May's net outflows of ₹32,963 crore. This significant withdrawal impacted several FPI-heavy stocks, yet a diverse performance was observed across the board.
Mixed Fortunes for FPI-Favored Stocks
Out of 53 constituents in the BSE500 index with over 25 percent FII (Foreign Institutional Investor) ownership, 37 managed to deliver positive returns during June. However, some prominent names, particularly those with high FPI stakes, experienced considerable declines.
Major Losers Among FPI Holdings
- Hindalco Industries Ltd: Shares plunged 15.43 percent. FPIs held a 29.96 percent stake in the company as of March 31. While Emkay remained positive on Hindalco, citing resilient prices and an improving outlook for Novelis, InCred Equities held an opposing view, warning of vulnerability in aluminium prices.
- Infosys Ltd: The IT giant's shares tumbled 10 percent in June. FPIs owned 28.45 percent of Infosys as of March 31. Nomura India maintained a 'Buy' rating on the stock, setting a target of ₹1,640.
- Indus Towers Ltd: With FIIs holding 25.1 percent, Indus Towers declined 11 percent. JM Financial issued a 'Reduce' rating for the stock, targeting ₹390.
Significant Gainers Despite Outflows
Conversely, several FPI-heavy stocks defied the broader outflow trend, delivering double-digit returns:
- Redington Ltd: Topped the gainers' chart with a 27 percent surge in June. FPIs held a substantial 61.49 percent stake. Analysts like Monarch Networth Capital remained optimistic, citing robust India growth and strong enterprise deal execution.
- ZEE Entertainment Enterprises Ltd (ZEEL): Gained 19 percent, boosted by its recent agreement with FIFA for broadcasting rights through 2034, including the FIFA World Cup 2026 and 2030.
- TBO Tek Ltd: Also rose 19 percent. Analysts at Anand Rath expressed positivity, anticipating steady performance in the near term and strong recovery from H2FY27 onwards.
- Other notable gainers: Max Healthcare Institute Ltd, Home First Finance Company India Ltd, The Federal Bank Ltd, Five-Star Business Finance Ltd, IDFC First Bank Ltd, and ICICI Bank Ltd all saw gains of 10-15 percent.
The varied performance underscores the complex nature of market dynamics, where individual company fundamentals and sector-specific news can counteract broader foreign investment trends.