Archive · 17 Nov 2025
FIIs Boost Stake in Indian Tech Stocks Despite Market Sell-off
Even though Foreign Institutional Investors (FIIs) are selling many Indian stocks, they are buying more of two small tech companies, Cartrade Tech Ltd.
and Le Travenues Technology Ltd.
Both companies have seen their businesses grow a lot, and FIIs think they will do even better in the future.
However, these stocks are very expensive compared to others in their industry.
FIIs sold Indian equities worth ₹1,46,002 crore until 14 November 2025
IT sector saw the most selling by FIIs, but they increased holdings in two small-cap tech stocks
Cartrade Tech Ltd. (CARTRADE) and Le Travenues Technology Ltd. (IXIGO) have FII holdings over 60%
Both companies witnessed significant business growth and positive outlook in Q2FY26
Stocks are trading at premium valuations, with CARTRADE at 78.5x PE and IXIGO at 251.5x PE
- Who
- Foreign Institutional Investors (FIIs)
- What
- Increased stake in Indian tech stocks
- When
- During Q2FY26 and continuing
- Where
- Indian equity markets
- Why
- Due to strong business growth and positive outlook of the companies
FIIs' Positive Stance
Premium Valuations
Business Growth
FIIs' Positive Stance
Both companies witnessed significant business growth in Q2FY26.
Premium Valuations
FIIs are attracted to the strong business performance.
Future Outlook
FIIs' Positive Stance
Management of both companies is positive about future growth.
Premium Valuations
FIIs are optimistic about the companies' prospects.
Valuation
FIIs' Positive Stance
Both stocks are trading at premium valuations.
Premium Valuations
Investors might question the high prices given the industry median PE ratios.
- Total equity sold by FIIs (Jan-Nov 2025)
- ₹1,46,002 crore
- Equity sold by FIIs in IT sector (July-Sep 2025)
- ₹76,609 crore
- FII stake in CARTRADE (end of Q2FY26)
- 68.51%
- FII stake in IXIGO (end of Q2FY26)
- 63.06%
- CARTRADE's PE ratio
- 78.5x
- IXIGO's PE ratio
- 251.5x
- CARTRADE's sales growth (Q2FY26 YoY)
- 25.5%
- IXIGO's sales growth (Q2FY26 YoY)
- 36.94%