5 Stocks That Saw Highest FII Buying This Quarter

#2 Sky Gold & Diamonds

Next on the list is Sky Gold & Diamonds.

Sky Gold & Diamonds manufactures gold and diamond jewellery on a B2B basis. It serves large retailers such as Malabar Gold, Kalyan Jewellers, Joyalukkas, and CaratLane, along with international clients across UAE, Malaysia, and Singapore.

The company operates an asset-light, design-led manufacturing model. It specializes in lightweight gold jewellery using advanced 3D printing and casting technology and has also built a growing advance gold business where customers supply the metal upfront.

FIIs grew their position to 2.79% in the June quarter. This was up from 1.2% in the March quarter.

Sky Gold & Diamonds delivered its strongest quarter yet in Q4FY26. Revenue came in at Rs 19.1 bn, up 81% YoY, while full year revenue stood at Rs 62.9 bn, up 77% YoY.

EBITDA for the quarter rose 123% YoY to Rs 1.44 bn, with margin expanding 140 bps to 7.4%. Net profit grew 137% YoY to Rs 907 m, taking PAT margin 4.8%.

For full year PAT stood at Rs 2.82 bn, up 112% YoY, with PAT margin at 4.5%. Return ratios improved as well, with ROCE rising to 36% from 30% and ROE to 23% from 19%.

Looking ahead, management has revised FY27 revenue guidance upwards to around Rs 81 bn, with EBITDA margin guided at 7-7.5% and PAT margin at 4.5-4.75%. By FY30, the company targets revenue of Rs 180-190 bn, PAT margin above 5.25%, and ROCE above 27%.

Growth is expected to be driven by a rising share of value-added and studded jewellery, expansion into 18kt, 9kt and diamond-studded categories, and a growing advance gold business, targeted at 30% of volumes FY30 versus 11.5% in FY26. The company has shifted toward an asset-light, leased-manufacturing model to improve capital efficiency.

For more details, see the Sky Gold & Diamonds company fact sheet and quarterly results.

#3 JSW Infrastructure

Next on the list is JSW Infrastructure.

JSW Infrastructure is India's second-largest port operator by capacity, part of the JSW Group. It runs port and terminals across India's west and east coasts, plus operations in the UAE and Oman, handling dry bulk, container, coal, iron ore and liquid cargo.

The company has also expanded into logistic through Navkar Corporation and Gati Shakti Cargo Terminals. Total operational capacity stand at 186 mtpa, with another 120 mtpa of ports and 26.3 mtpa of terminals undersigned or awarded concessions.

For the June 2026 quarter, the company has seen an increase in FIIs holding.

JSW Infrastructure delivered a steady Q1FY27. Revenue from operations came in at Rs 14.4 bn, up 18% YoY. Operating EBITDA rose 16% YoY to RS 6.7 bn, with margin easing to 46.6% from 47.5%.

PAT came in at 3.6 bn, down 8% YoY on higher depreciation. Total cargo handled rose 6% YoY to 31 MT, led by strong volumes at Jaigarh, Dharamtar, and Southwest Port.

Cash and bank balance stood at Rs 98.6 bn against gross debt of Rs 70.9 bn as on 30 June 2026. The logistics arm, Navkar Corporation, stood out with revenue up 38% YoY to Rs 1.9 bn and PAT up over 400% YoY to 120 m.

Looking ahead, management guided for consolidated FY27 operating revenue of Rs 68.5 bn and EBITDA of Rs 30 bn. These are expected to scale to Rs 108 bn and 50 bn by FY28, implying a FY26-28 revenue/EBITDA CAGR of 42%/39%.

By 2030, the company targets 2.4x growth in port capacity to 400 mtpa via expansion at Dharamtar, Jaigarh, new greenfield ports at Jatadhar and Kenil, and a port in Oman. Logistics is targeted to reach Rs 80 bn revenue and 20 bn EBITDA by FY30, backed by an expanded rail-rake fleet.

For more details, the JSW Infrastructure company fact sheet and quarterly results.

#4 CORONA Remedies

Next on the list is CORONA Remedies.

CORONA Remedies is a specialty pharmaceutical company focused on chronic and sub-chronic therapies. It has a strong presence in Women's Healthcare, Cardio-Diabetic, Pain Management and Urology, with a portfolio of 79 brands including 33 "engine" brands that drive the bulk of sales.

The company follows a "middle of the pyramid" approach, targeting specialist and super-specialist doctor instead of chasing GP-led volumes.

This has been backed by string of brand acquisition from GSK, Abbott, Sanofi, Bayor Zydus and Dr. Reddy's, along with an in-licensing tie-up with Switzerland's Ferring Pharmaceuticals.

FIIs increased their stake in CORONA Remedies during the latest quarter.

CORONA Remedies delivered a strong Q1FY27, with revenue up 21.9% YoY to Rs 4.2 bn. EBITDA grew even faster, rising 33.5% YoY to Rs 931 m as margin expanded 190 bps to 22%. While PAT climbed 30.1% YoY to Rs 601 m, with PAT margin up 90 bps to 14.2%.

The company was also fastest growing among the top 30 Indian pharma players in the IPM for the quarter, moving up to 26 rank overall from 27th and six spots higher over three years.

Two facility milestones stood out during the quarter: renewal of EU-GMP certification at the Bhayla Oral Solid Dosage plant, and the launch of new EU-GMP certified Hormone Manufacturing Facility at the same site, positioned as India's most advanced women's hormone facility. Chronic therapies accounted for 73.4% of revenue, with India contributing 97% of sales.

Looking ahead, growth will be driven by penetration in the domestic IPM, expansion into nephrology, CNS, rheumatology and dermatology, and the strengthening of the portfolio.

The company also plans to pursue further acquisitions and in-licensing deals, while entering select regulated overseas markets on the strength of its hormone portfolio and R&D capabilities.

For more details, the CORONA Remedies company fact sheet and quarterly results.

#5 SML Mahindra

Next on the list is SML Mahindra.

SML Mahindra manufactures light and intermediate commercial trucks and buses. It sells under its own ICV and LCV range and popular sub-brands like Sartaj, Prestige, Samrat and Super GS. The company operates as the auto subsidiary of the Mahindra Group.

Mahindra acquired a 58.96% stake in SML Isuzu for Rs 5.5 bn on 2025, renaming it SML Mahindra that October.

FIIs increased their stake in SML Mahindra during the latest quarter.

The first full year under Mahindra ownership was strong, with FY26 revenue up 18% YoY to Rs 28.4 bn and PAT rising 31% to 1.6 bn. SML also outgrow the industry, with volumes up 17% YoY against 13% industry growth in commercial vehicles above 3.5T.

Segment performance stayed healthy. Cargo vehicle volumes grew 28% YoY with market share up 20 bps to 3.6%, while passenger vehicle volumes rose 12% YoY with share up 80 bps to 16%.

Integration with Mahindra has largely stayed on track, with culture alignment, sourcing synergies, manufacturing footprint and service network integration all ahead of or on plan, while talent pooling and sales network integration remain work in progress.

The bigger update came at the July 2026 meet, where Mahindra decided to merge its own Truck and Bus Division into SML Mahindra for Rs 5.25 bn, creating a unified truck and bus platform.

Management now targets market share rising from around 6% today to 10-12% by FY31 and 20%+ by FY36, with FY31 revenue guided at Rs 125 bn.

Conclusion

The latest quarter shows that FIIs remained selective with their allocation. Instead of spreading investment across the market, they increased their exposure to a handful of companies with distinct business drivers.

These companies operate across different industries but share common strengths such as improving fundamentals, consistent execution, and growth visibility.

Rising FII ownership reflects growing institutional interest, but it should not be viewed as a stand-alone investment signal.

A company's business quality, financial performance, management execution, and valuation remain the key factors to evaluate before drawing any investment conclusions.

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