Stocks With the Highest FII Holding in India (Sep 2026)
Indian stocks where foreign institutional investors hold more than 20% — ranked by FII stake, with valuation, growth and forensic figures for each company.
Investors searching for fii buying stocks can use this 12-stock snapshot to identify companies where foreign institutional investor ownership exceeds 20% as of 15 Sep 2026. The list covers FII holdings ranging from 41.83% to 61.96%, although it measures ownership levels rather than the latest quarterly buying or selling activity.
Methodology
How This List Was Generated
Screened 12 stocks from the InvestSights screening dataset (6,000+ securities in the screening dataset).
Criteria: Stocks with the highest FII ownership (>20%). Foreign institutional investors allocate based on deep research — their holdings signal institutional conviction.
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The 12 companies are ranked strictly by reported FII ownership, from Redington at 61.96% to HDFC Bank at 41.83%. The table also includes valuation, Piotroski score and a company-specific operating or financial metric so that a high FII stake is not viewed in isolation.
Stocks With the Highest FII Holding
| # | Stock | Market Cap | Key Metric | P/E | Piotroski | Verdict |
|---|---|---|---|---|---|---|
| 1 | Redington | ₹21,694.24 Cr | FII: 61.96% | 10.49x | 4/9 | Highest FII holding; PAT growth -7.14% |
| 2 | 360 One Wam | ₹44,718.01 Cr | FII: 58.55% | 31.49x | 4/9 | Revenue growth 69.9%; FCF ₹-488.14 Cr |
| 3 | Shriram Finance | ₹2,03,901.20 Cr | FII: 54.77% | 16.37x | 3/9 | ROE 15.21%; D/E 2.75 |
| 4 | ICICI Bank | ₹9,95,220.41 Cr | FII: 49.82% | 15.89x | 2/9 | FCF ₹99,411.12 Cr; ROCE 2.65% |
| 5 | One97 Communications | ₹70,924.98 Cr | FII: 48.08% | 110.74x | 6/9 | PAT growth 183.95%; OPM -0.5% |
| 6 | Max Financial Services | ₹63,387.23 Cr | FII: 48.06% | 608.45x | 2/9 | FCF ₹11,228.27 Cr; PAT growth -74.34% |
| 7 | Yes Bank | ₹65,049.50 Cr | FII: 46.12% | 15.40x | 3/9 | PAT growth 43.54%; revenue growth -3.95% |
| 8 | IRB Infrastructure Developers | ₹24,904.84 Cr | FII: 43.87% | 30.87x | 6/9 | FCF ₹1,365.97 Cr; PAT growth -86.88% |
| 9 | UPL | ₹54,148.96 Cr | FII: 43.71% | 25.45x | 4/9 | PAT growth 114.27%; ROE 5.54% |
| 10 | Axis Bank | ₹4,31,134.55 Cr | FII: 43.0% | 14.03x | 3/9 | OPM 19.91%; FCF ₹-10,846.71 Cr |
| 11 | Delhivery | ₹32,785.31 Cr | FII: 41.93% | 204.26x | 6/9 | Revenue growth 17.65%; ROCE -0.51% |
| 12 | HDFC Bank | ₹13,70,148.89 Cr | FII: 41.83% | 14.78x | 5/9 | FCF ₹1,63,719.82 Cr; ROE 12.97% |
For investors researching fii buying stocks, the ranking shows that high foreign ownership appears across Technology, Financial Services, Industrials and Basic Materials. However, the operating profiles differ sharply: P/E valuations range from 10.49x for Redington to 608.45x for Max Financial Services, while Piotroski scores range from 2/9 to 6/9.
Individual Stock Analysis
Redington Limited (REDINGTON) — ₹21,694.24 Cr
Redington is classified in the Technology sector and has a market capitalisation of ₹21,694.24 Cr. It leads this 12-stock list with FII ownership of 61.96%, while revenue grew 20.01% year on year and ROCE stood at 18.78%. The key operating risk is the combination of PAT growth of -7.14%, OPM of only 1.71% and free cash flow of ₹-166.99 Cr. Its P/E of 10.49x and dividend yield of 3.4% should therefore be assessed alongside its Piotroski score of 4/9.
🔍 Full Analysis — investsights.in/stock/REDINGTON
360 One Wam Limited (360ONE) — ₹44,718.01 Cr
360 One Wam is a Financial Services company with a market capitalisation of ₹44,718.01 Cr. Its FII ownership is 58.55%, supported by year-on-year revenue growth of 69.9%, PAT growth of 19.78% and OPM of 35.39%. The balance-sheet and cash-flow indicators require attention because D/E is 1.61 and free cash flow is ₹-488.14 Cr. Its P/E is 31.49x, ROE is 12.37% and Piotroski score is 4/9.
🔍 Full Analysis — investsights.in/stock/360ONE
Shriram Finance Limited (SHRIRAMFIN) — ₹2,03,901.20 Cr
Shriram Finance operates in Financial Services and has a market capitalisation of ₹2,03,901.20 Cr. FII ownership stands at 54.77%, while the company reports ROE of 15.21%, OPM of 38.68% and free cash flow of ₹18,734.19 Cr. The main financial risk indicators are D/E of 2.75, a Piotroski score of 3/9 and an Altman Z-score of 1.05. Revenue grew 18.58% year on year, but PAT growth was lower at 4.92%.
🔍 Full Analysis — investsights.in/stock/SHRIRAMFIN
ICICI Bank Limited (ICICIBANK) — ₹9,95,220.41 Cr
ICICI Bank is classified in Financial Services and has a market capitalisation of ₹9,95,220.41 Cr. Its FII ownership is 49.82%, alongside free cash flow of ₹99,411.12 Cr, ROE of 14.93% and PAT growth of 6.23%. Investors should separately examine the Piotroski score of 2/9, Altman Z-score of -0.25 and ROCE of 2.65%. The stock’s P/E is 15.89x, while revenue growth is 6.35% and dividend yield is 0.91%.
🔍 Full Analysis — investsights.in/stock/ICICIBANK
One97 Communications Limited (PAYTM) — ₹70,924.98 Cr
One97 Communications is a Technology-sector company with a market capitalisation of ₹70,924.98 Cr. It has FII ownership of 48.08%, year-on-year revenue growth of 25.16%, PAT growth of 183.95% and a Piotroski score of 6/9. The operating and cash-flow risks remain visible in ROCE of -0.26%, OPM of -0.5% and free cash flow of ₹-8,671.0 Cr. Its P/E of 110.74x should also be considered against ROE of 3.45% and a dividend yield of 0.0%.
🔍 Full Analysis — investsights.in/stock/PAYTM
Max Financial Services Limited (MFSL) — ₹63,387.23 Cr
Max Financial Services is classified in Financial Services and carries a market capitalisation of ₹63,387.23 Cr. FII ownership is 48.06%, while free cash flow is ₹11,228.27 Cr and D/E is 0.44. The central earnings risk is PAT growth of -74.34%, accompanied by ROCE of 0.06%, ROE of 1.59% and OPM of 0.25%. Its P/E is 608.45x, Piotroski score is 2/9 and dividend yield is 0.0%.
🔍 Full Analysis — investsights.in/stock/MFSL
Yes Bank Limited (YESBANK) — ₹65,049.50 Cr
Yes Bank operates in Financial Services and has a market capitalisation of ₹65,049.50 Cr. Its FII ownership stands at 46.12%, while PAT grew 43.54% year on year and free cash flow reached ₹14,105.62 Cr. Revenue growth of -3.95%, ROCE of 0.99% and an Altman Z-score of -0.53 are the principal counterpoints. The bank also reports D/E of 1.28, a Piotroski score of 3/9 and a dividend yield of 0.0%.
🔍 Full Analysis — investsights.in/stock/YESBANK
IRB Infrastructure Developers Limited (IRB) — ₹24,904.84 Cr
IRB Infrastructure Developers is classified in the Industrials sector and has a market capitalisation of ₹24,904.84 Cr. Its FII ownership is 43.87%, with OPM of 26.25%, free cash flow of ₹1,365.97 Cr and a Piotroski score of 6/9. The major earnings risk is PAT growth of -86.88%, accompanied by revenue growth of -7.67% and an Altman Z-score of 0.75. Its P/E is 30.87x, while ROCE is 3.4% and D/E is 0.96.
🔍 Full Analysis — investsights.in/stock/IRB
UPL Limited (UPL) — ₹54,148.96 Cr
UPL is a Basic Materials company with a market capitalisation of ₹54,148.96 Cr. FII ownership stands at 43.71%, while revenue grew 12.06% year on year and PAT grew 114.27%. Investors should weigh that growth against ROE of 5.54%, D/E of 0.68 and a Piotroski score of 4/9. The company reports ROCE of 11.73%, free cash flow of ₹4,097.0 Cr and a P/E of 25.45x.
🔍 Full Analysis — investsights.in/stock/UPL
Axis Bank Limited (AXISBANK) — ₹4,31,134.55 Cr
Axis Bank is classified in Financial Services and has a market capitalisation of ₹4,31,134.55 Cr. Its FII ownership is 43.0%, while ROE is 12.27%, OPM is 19.91% and the P/E is 14.03x. The key risk indicators are PAT growth of -5.95%, free cash flow of ₹-10,846.71 Cr and an Altman Z-score of -0.47. Revenue growth is 4.03%, D/E is 1.30 and the Piotroski score is 3/9.
🔍 Full Analysis — investsights.in/stock/AXISBANK
Delhivery Limited (DELHIVERY) — ₹32,785.31 Cr
Delhivery is classified in the Industrials sector and has a market capitalisation of ₹32,785.31 Cr. Its FII ownership is 41.93%, with revenue growth of 17.65%, free cash flow of ₹685.15 Cr and a Piotroski score of 6/9. Profitability remains the main risk because ROCE is -0.51%, OPM is -0.53% and PAT growth is -5.82%. Its P/E of 204.26x should be evaluated alongside ROE of 1.58%, D/E of 0.15 and a dividend yield of 0.0%.
🔍 Full Analysis — investsights.in/stock/DELHIVERY
HDFC Bank Limited (HDFCBANK) — ₹13,70,148.89 Cr
HDFC Bank operates in Financial Services and is the largest company on this 12-stock list by market capitalisation at ₹13,70,148.89 Cr. Its FII ownership is 41.83%, accompanied by revenue growth of 18.11%, PAT growth of 12.88% and free cash flow of ₹1,63,719.82 Cr. The weaker indicators are ROCE of 2.08%, an Altman Z-score of 0.38 and D/E of 1.00. Its P/E is 14.78x, ROE is 12.97%, dividend yield is 1.84% and Piotroski score is 5/9.
🔍 Full Analysis — investsights.in/stock/HDFCBANK
What This List Doesn’t Tell You
This fii buying stocks list is based on ownership data available as of 15 Sep 2026, so it does not capture market or shareholding changes after that date. Cross-sector comparisons also need care: the 12 companies span Financial Services, Technology, Industrials and Basic Materials, while metrics such as D/E range from 0.01 for One97 Communications to 2.75 for Shriram Finance. High FII ownership alone does not resolve company-specific concerns such as negative free cash flow of ₹-10,846.71 Cr at Axis Bank or PAT growth of -86.88% at IRB Infrastructure Developers.
How to Use This List
Treat the 12 names as a research shortlist rather than a recommendation list. When evaluating fii buying stocks, compare FII ownership with revenue and PAT growth, cash flow, leverage, profitability, valuation and forensic indicators; this list itself shows P/E ratios from 10.49x to 608.45x and Piotroski scores from 2/9 to 6/9.
Review sector-specific accounting before comparing the 7 Financial Services companies with the 2 Technology companies, 2 Industrials companies and 1 Basic Materials company. Investors can then examine filings, forensic health and management commentary for each of the 12 stocks before making an independent decision.
🔍 Screen stocks yourself — investsights.in/screener
🔬 Check forensic health — investsights.in/stock/SYMBOL?tab=forensic
🎙️ Read management commentary — investsights.in/stock/SYMBOL?tab=concall
Disclaimer
This list is for informational and educational purposes only. It does not constitute investment advice. Consult a SEBI-registered investment advisor before making investment decisions. Data as of the most recent screener refresh on InvestSights.
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InvestSights is an analytics platform and is not SEBI-registered as a Research Analyst or Investment Adviser. All figures are educational, descriptive data — not investment advice. Consult a SEBI-registered adviser before investing.