Business

Auto sector’s weight in FPI portfolio at multi-month high

By Dan Neff

Automakers’ focus on cost control is also helping margins surge to new highs, although volume still has not reached the pre-Covid level.

Synopsis

Auto sector inflow accounted for 21% of the total FPI inflow of $5.4 billion from the beginning of the current fiscal year. This is the second-biggest inflow to a sector after financial services in the same period, which received one-third of the total inflows.

ET Intelligence Group: Foreign portfolio investors (FPI) are stepping up their investments in Indian auto stocks when Asia’s third-largest economy received the highest fund flow among the emerging markets since April this year.The weight of the auto sector in the equity portfolio of FPIs rose to a multi-month high of 6.18% in the first fortnight of May, data from NSDL show. The long-term average of auto stocks in their equity portfolio stood at

BY

ET Bureau

3 mins read, Last Updated:

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Dan Neff