GNFC has been in the limelight for a couple of months now and in the past 3 months, has risen over 100%. Today too, the stock is in the deep green, going up almost 4% to Rs.461. Its 52-week high is at Rs.548.50. Yesterday, post announcement of its Q2FY18, albeit being good, the stock price actually tumbled down to hit the 10% LC at Rs.454.85.

The upward rally in the stock for the past three months is thanks to the FIIs, who have taken an unprecedented interest.

The list of FIIs who have picked up shares (all less than 1%) is pretty impressive - People’s Bank of China, Master Trust Bank of Japan, Queensland Investment Trust, Government of the Province of Alberta, UBS Fund Management AG, Samsung India Small and Mid Cap Focus Securities Master Investment Trust (Equity), and Singapore’s Credit Suisse (Singapore) Ltd apart from those from the US and the UK. Fidelity Puritan of USA remains the top FII investor but it trimmed its stake from 8.72% to 4.09%.

As at 30th Sept 2017, promoters held 41.21% stake and 93 FIIs held 9.27%. Total institutional holding is at 26.07%.

The company declared its Q2FY18 performance yesterday , it posted the highest ever quarterly net profit for the quarter ended September 2017 at Rs. 166 crore as against Rs. 165 crore recorded in the corresponding quarter a year ago. Revenues increased by 3% at Rs.1,507 crore. It has reduced its interest outgo by a good 49% in Q2.