MUMBAI: Foreign institutional investors (FIIs) sold a net Rs 48,053 crore worth of Indian equities in the October-December quarter so far, wiping out the Rs 13,972 crore of net inflows recorded in the July-September quarter, according to an analysis by the Financial Express.
Despite the broader selling, FIIs made net purchases of more than Rs 20,000 crore in the consumer services sector during the quarter, with their three biggest stake increases concentrated within retail, the report said.
FIIs raised their stake in eyewear retailer Lenskart Solutions by 5.5 percentage points to 18.26%, as the company added 455 net new stores and entered 140 new towns between November 2025 and August 2026 -- its fastest expansion yet. Consolidated revenue rose 43.3% year-on-year to Rs 2,714 crore in the quarter, with net profit up 273.8% to Rs 228 crore.
In e-commerce platform Meesho, FIIs increased their holding by 4.65 percentage points to 9.84%. The company's annual transacting users grew 29% to 274 million and net merchandise value rose 34% to Rs 11,614 crore, though the group still reported a quarterly loss of Rs 136 crore, narrower than a year earlier.
FIIs raised their stake in Eternal, the parent of Zomato and Blinkit, by 3.92 percentage points to 33.01%, even as domestic institutional investors trimmed their holding. Eternal's consolidated sales rose 77.6% to Rs 24,138 crore, with net profit up 92.3% to Rs 125 crore.
The Financial Express noted that valuations across the three stocks are elevated relative to industry medians, and that sustaining FII interest will depend on the companies translating store and user growth into consistent earnings and improved capital efficiency over coming quarters.