Foreign Institutional Investors (FIIs) increasing their holding stake in certain companies suggest a positive outlook on the company’s performance, management, and prospects. This often leads to speculation of expected future growth and upcoming changes in the company. Penny stocks are popular among investors due to the potential for high returns, the ability to buy a large number of shares with a small investment, and the excitement of investing in companies that could experience significant growth.
Listed below are some penny stocks in which Foreign Institutional Investors have increased their holding in Q4FY24:
1. Pioneer Embroideries:
Pioneer Embroideries Limited is involved in manufacturing and exporting specialized polyester filament yarn, embroidery, laces, and other garment accessories. The company has a market capitalization of Rs. 124.65 Crores, with its shares trading at Rs. 42.30. In Q4FY24, FIIs increased their holding in Pioneer Embroideries Limited from 0.00 percent to 8.48 percent by purchasing a fresh 8.48 percent stake. The company’s revenue from operations grew by 29 percent, accompanied by profits.
2. Celebrity Fashions:
Celebrity Fashions Limited operates in the manufacturing, designing, and exporting of textile garments and clothing accessories. With a market capitalization of Rs. 113 Crores, the company’s shares were trading at Rs. 20. In Q4FY24, FIIs increased their holding in Celebrity Fashions Limited from 11.63 percent to 15.53 percent by purchasing an additional 3.9 percent stake. The company’s revenue from operations declined, accompanied by profits.
3. AKI India:
AKI India Limited is engaged in the manufacturing, designing, and exporting of leather and leather goods, including footwear, bags, and belts. The company has a market capitalization of Rs. 138.88 Crores, with its shares trading at Rs. 20.75. In Q4FY24, FIIs increased their holding in AKI India Limited from 0.00 percent to 3.50 percent by purchasing a fresh 3.50 percent stake. The company’s revenue from operations grew, accompanied by profits.
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