 "Pharma, medicine, drugs, Pharmaceuticals")
Foreign institutional investors (FIIs) have rejigged their sectoral exposure ahead of the Union Budget, with overseas investors trimming their stake heavily in auto and ancillary companies, fast-moving consumer goods (FMCG), and the IT sector. They are picking stakes in pharma companies.
An analysis of data sourced from Capitaline showed that FIIs had cut stake in a dozen FMCG names and 14 auto and ancillary companies within the BSE 500 universe. According to market experts, FIIs are trimming stake in the two sectors because of rich valuations in the FMCG segment and low visibility on recovery in the auto sector.
“In the FMCG
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