Foreign institutional investors have pulled out a staggering Rs 5.5 lakh crore from the Indian stock market since September 2024, dumping heavyweight banking and financial stocks the hardest. But buried beneath this exodus is a counter-narrative that few are talking about: a list of 84 stocks that have delivered multibagger returns over the past two years and FIIs have actually been raising their stakes in every single one of them since September 2024.
Midwest Energy tops the list with a 19,859% two-year return, alongside an FII stake that went from zero in September 2024 to over 12% by March 2026. Sumeet Industries delivered a 6,376% return, while CIAN Agro and Colab Platforms returned over 3,000% and 2,200% respectively — all stocks where foreign investors built positions from scratch, shows data from ACE Equity.
