Foreign Institutional Investors (FIIs) have been steadily offloading stocks in the Indian markets. In November 2025, they recorded net sales amounting to Rs 175 billion (bn) in the cash segment.
This trend escalated in December 2025, with net sales reaching Rs 343.49 bn. The pace of selling remained aggressive in the first 14 days of January 2026, with net sales in the cash market hitting Rs 217.06 bn.
However, some stocks have attracted buying interest, as evident from the FII holdings data for the quarter ending December 2025. This report highlights three stocks where FII’s have raised their stake, despite a general trend of selling.
#1 GRM Overseas
First on our list is the stock of GRM Overseas.
GRM Overseas is primarily engaged in milling, processing, and marketing basmati rice, spices, atta, and ready-to-eat products under brands like 10X, 7 Express, Tanoush, Shakti, and Himalaya.
FII Holdings
| Sept 2025 | Dec 2025 | Increase |
| 1.89% | 3.36% | 1.47% |
Source: Equitymaster
Foreign Institutional Investors have increased their holdings significantly in the company from 1.89% to 3.36%.
On the financial front, GRM Overseas reported total revenue of Rs 3,721 million (m) in Q2 FY26, showing 16.2% YoY growth.
The EBITDA for Q2 FY26 was Rs 245 m, up by 53.9% YoY. The EBITDA margin expanded to 6.6% in Q2 FY26, a growth of 161 bps. The net profits of the company were placed at Rs 148 m, which surged by 60.5% YoY.
Moving ahead, the company has established a fully owned subsidiary in the UAE to act as a distribution and marketing centre for customers in the UAE and nearby international markets.
Additionally, GRM Overseas has also signed an agreement with Seven Star Company Limited in Riyadh, Saudi Arabia, to distribute its popular basmati rice brand ‘10X’ throughout the Saudi market.
The company has outlined a clear vision for 2028. The mission envisages, plans to penetrate aggressively into the packaged foods industry in India. It also plans to launch fast-selling items like ready to eat and ready to cook products.
Besides this, the vision highlights a plan to look at opportunities to acquire new-age margin-accretive businesses in niche market segments.
#2 Torrent Pharma
Next on our list is the stock of Torrent Pharmaceuticals.
Torrent Pharma develops, manufactures, markets and distributes pharmaceutical drugs—primarily branded generics and generic medicines—across a wide range of therapeutic areas, including cardiovascular, central nervous system, gastro-intestinal and more.
FII Holdings
| Sept 2025 | Dec 2025 | Increase |
| 15.92% | 16.13% | 0.21% |
Source: Equitymaster
FIIs held a stake of 15.92% in the company as at the end of September 2025. They enhanced their holding to 16.13% by the end of December 2025.
On the financial front, the company reported net sales of Rs 33,020 m for Q2 FY26 vs Rs 28,890 m YoY. The net profits surged to Rs 5,910 m vs Rs 4,530 m YoY.
During Q2FY26, Torrent Pharmaceuticals saw good growth performance in its branded markets which accounted for 73% of the overall revenue in the quarter.
The two largest branded markets, India and Brazil, each delivered healthy double-digit growth. India business grew at 12% and Brazil grew at 21%.
Going forward, the company expects its overall India business to continue outperforming the market growth. The focus would be to continue improving its market share in focus therapies, particularly chronic therapies, new launches, and improving field force productivity in the expanded divisions.
The company is also set to complete the acquisition of JB Chemicals and Pharmaceuticals shortly.
#3 Kovai Medical Center and Hospital
Next on our list is the stock of Kovai Medical Center and Hospital. The hospital is a multi-super specialty hospital in Tamil Nadu.
FII Holdings
| Sept 2025 | Dec 2025 | Increase |
| 1.25% | 1.31% | 0.06% |
Source: Equitymaster
FIIs have enhanced stake in the hospital stock from 1.25% as at the end of September 2025 to 1.31% by the end of December 2025.
On the financial front, the hospital in Q2 FY26 reported net sales of Rs 3,920 m vs Rs 3,440 m YoY. The net profits of the firm were placed at Rs 589 m vs Rs 507 m YoY.
Moving ahead, the hospital plans to add another 100 beds in the main campus. There are also plans to establish a 300-400 bed hospital in Chennai. The outpatient block of the hospital is expected to be ready soon.
Should You Consider Stocks Where FIIs are Increasing Stake?
Stocks where Foreign Institutional Investors (FIIs) are increasing their stake can be worth considering—but they should never be the sole reason to invest.
A balanced approach lies in understanding why FIIs are buying and whether that reason aligns with the company’s fundamentals and your investment horizon.
FII inflows are not permanent capital. Their flows can reverse quickly due to factors unrelated to the company—such as US interest rate changes, global risk-off events, currency volatility, or geopolitical tensions. A fundamentally sound stock can still fall sharply if FIIs exit en masse.
Investors should evaluate the company’s fundamentals, corporate governance, and valuations of
the stock as key factors when conducting due diligence before making investment decisions.
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