The year 2024 has been a year of upheavals in the Indian stock market. While Foreign Institutional Investors (FIIs) invested handsomely between January and September, they began selling aggressively in October and November due to a variety of factors such as China clawing back into reckoning and the strengthening dollar against the Indian rupee. FIIs sold Indian equities worth about 1.20 lakh crore in 2024, a year when market indices rose to dizzying heights and caused concerns of overstretched valuations in Indian equities among a lot of FIIs and domestic analysts.
According to reports, information technology and bank stocks have taken a big hit, climbing down by significant extents. The stake of FIIs in stocks of Indian companies was cumulatively valued at $831 billion, which has been calculated to be 16% of the Indian equity market. What follows is a list of the 10 stocks where FIIs sold their stake the most.
IndusInd Bank
24.7%: Current FII holding
17.2%: Stake sold by FIIs in 2024
According to reports, IndusInd Bank leads the pack of stocks where FIIs have offloaded stake the most. This private bank has witnessed the sharpest reduction in FII holding in the BSE500 universe.
Route Mobile
4.7%: Current FII holding
16.9%: Stake diluted by FIIs in 2024
This share lost 13% in 2024. It recorded the 52-week low of Rs 1,240 on January 23, 2025. According to reports, FII stake in this company stood at 22% in end-December 2023.
RBL Bank
13.4%: Current FII holding
14.9%: Stake sold by FIIs in 2024
This private bank is the second bank in the top 3 companies to have suffered the sharpest reduction in FII stake. The FII stake stood at more than double of the 13.4% in December 2024. The bank reported disappointing financial results in Q3 of FY25.
Star Health and Allied Insurance Company
17.5%: Current FII holding
13.5%: Stake sold by FIIs in 2024
The extent of FII holding in this company was about 31% in December 2023, which has slipped to 17.5% within a year. According to reports, it has failed to report returns for the shareholders in the past 3 years.
Bandhan Bank
23.2%: Current FII holding
11.5%: Stake sold by FIIs in 2024
Reports state that in December 2023, FII stake in Bandhan Bank stood at 34.8%. At the end of December 2024, FII holdings in the bank stood at 23.2%.
Birlasoft
11.1%: Current FII holding
10.2%: Stake sold by FIIs in 2024
The Birlasoft stock made impressive gains in 2023 but dived from its peaks in 2024. FIIs sold off their stake in this smallcap information technology stock significantly in 2024.
Kalyan Jewellers India
16.4%: Current FII holding
9.8%: Stake sold by FIIs in 2024
The Kalyan Jewellers stock has been on a decline in recent weeks. FIIs began selling in 2024 and have cumulatively sold off about 10 percentage points from their holdings in this company in 2024.
KPIT Technologies
17.4%: Current FII holding
9.1%: Stake sold by FIIS in 2024
KPIT Technologies share saw FIIs reduce stake 2024. This company which specialises in software development and integration for vehicles was impacted by slow decisions from its clients last year.
Delhivery
53.8%: Current FII holding
9.0%: Stake sold by FIIs in 2024
Delhivery shares did undertake initiatives for growth but did not manage to impress investors. According to reports, this stock fell about 11% in 2024. The decline is continuing this year too.
Zee Entertainment Enterprises
20.1%: Current FII holding
8.1%: Stake sold by FIIs in 2024
In December 2023, the FII stake in this company was recorded at more than 28%. Though the FII stake inched up in the October-December quarter, it could not return to anywhere close to its earlier levels.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)
The year 2024 has been a year of upheavals in the Indian stock market. While Foreign Institutional Investors (FIIs) invested handsomely between January and September, they began selling aggressively in October and November due to a variety of factors. If you draw up a list of 10 top Indian stocks where FIIs diluted the most stake in 2024, you will find that most of the companies (40%) belong to the BFSI sector. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
