Indian Economy News

FPIs invest nearly US$ 874.55 million (Rs 7,200 crore) in Indian equities in March

  • IBEF
  • March 27, 2023

The substantial investment by the US-based GQG Partners in the Adani Group companies has been the primary driver of the foreign investors' infusion of US$ 874.55 million (Rs 7,200 crore) into Indian equities. According to the data with the depositories, foreign portfolio investors (FPIs) have invested US$ 878.56 million (Rs 7,233 crore) in Indian shares till March 25, 2023. This follows a net outflow of US$ 643.04 million (Rs 5,294 crore) in February and a net inflow of US$ 3.50 billion (Rs 28,852 crore) in January. Prior to that, in December, FPIs made a net investment of US$ 1.35 billion (Rs. 11,119 crores).

According to Chief Investment Strategist at Geojit Financial Services, Mr. VK Vijayakumar, the March inflow included GQG's bulk investment of US$ 1.87 billion (Rs 15,446 crore) in the four Adani equities.

In the current fiscal year 2023, FPIs sold equities worth US$ 3.26 billion (Rs 26,913 crore). FPIs have purchased automobiles and automobile components, financial services, metals and mining, and power.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.