homemarket NewsFrom Paytm, PB Fintech to three Adani Group stocks, these 25 names are foreign investors' favourites

From Paytm, PB Fintech to three Adani Group stocks, these 25 names are foreign investors' favourites

Max Healthcare, Shriram Finance, Axis Bank, AU Small Finance Bank and Sona BLW Precision Holdings are the top five foreign-owned names at the end of the June quarter, as per the Goldman Sachs note.

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By Hormaz Fatakia  Aug 18, 2023 11:43:19 AM IST (Updated)

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From Paytm, PB Fintech to three Adani Group stocks, these 25 names are foreign investors' favourites
Most new age companies like Paytm, PB Fintech, Delhivery find a place in the top 25 foreign owned stocks in the April-June quarter, according to data compiled by Goldman Sachs.

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The list also includes three Adani Group stocks like Adani Enterprises, Adani Green Energy and Adani Ports.
Max Healthcare, Shriram Finance, Axis Bank, AU Small Finance Bank and Sona BLW Precision Holdings are the top five foreign-owned names at the end of the June quarter, as per the Goldman Sachs note. Three out of these five stocks have gained between 20-35 percent on a year-to-date basis.
Interestingly, Sona BLW has seen the maximum increase in foreign ownership in 2023, with 20.4 percent. Other stocks that saw a double-digit rise in foreign ownership include Delhivery, Shriram Finance, and Paytm.
Other stocks that make up the top 25 list other than the names highlighted earlier include Max Financial Services, L&T, Coforge, Aurobindo Pharma, Syngene, GCPL, Indian Hotels, Britannia, IndiGo, Supreme Industries, TVS Motor, Tata Motors, UltraTech and CG Power.
Shriram Finance was in the news on Thursday after brokerage firm UBS initiated coverage of the stock with a buy rating and a price target of Rs 2,185. It said that the market is underappreciating the company's medium-term Earnings per Share (EPS) growth potential, which may support a further re-rating on inexpensive valuations. The stock ended four percent higher on Thursday.
Paytm has also been making headlines over news of Vijay Shekhar Sharma acquiring close to 10 percent of Antfin's stake in the company. The stock continues to remain nearly 60 percent below its IPO price. You can read more on the Vijay Shekhar Sharma-Antfin deal here.
Barring the Adani Group names, which saw a significant correction in price due to the Hindenburg Research saga, most of the top 25 foreign-owned stocks at the end of the June quarter have given positive year-to-date returns.

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