Despite heavy foreign institutional investor (FII) selling that pulled out a net ₹49,028 crore in the June 2026 quarter, three monopoly and near-monopoly stocks bucked the trend with increased foreign ownership. According to reports from Equitymaster.com, this buying activity occurred during a sustained selloff that pushed overall FII holdings in Indian equities to a 14-year low of 15.88%. The contrasting behavior highlights how investors continue to seek companies with dominant market positions despite broader market weakness.
The Multi Commodity Exchange of India (MCX) saw the most significant FII buying, with holdings increasing to 29.85% from 26.07% in the March quarter. As reported by Equitymaster.com, MCX maintains a 98% market share in commodity futures turnover and 100% market share in precious metals, base metals and energy. The company delivered robust FY26 performance with operating revenue growing 107% YoY to ₹23.02 billion and net profits crossing ₹13.32 billion, up 138%. In June 2026, MCX launched Silver 100 futures contracts, expanding access to retail investors and small jewelers. Latest trading data shows MCX shares gained 2.22% to trade at ₹2,696.60 on Monday, reflecting continued investor confidence despite bearish sentiment.
Bharat Heavy Electricals Limited (BHEL) saw FII holdings rise by 2.29 percentage points to 9.52% during the quarter. According to Equitymaster.com, BHEL maintains a 54% share in India's total installed thermal capacity and 53% share in total installed conventional capacity across all segments. The company reported its highest-ever order book of ₹2.4 trillion as of March 2026, with nearly 81% of orders from the power sector. The central government's push for nuclear power plant clearances and battery storage projects provides additional growth visibility for the company.
Coal India saw FII stakes increase by 1.99 percentage points to 10.37% during the quarter. As reported by Equitymaster.com, the state-owned company accounts for nearly 80% of India's domestic coal production and supplies around 75% of the country's coal-based power generation. The Union cabinet's approval of a ₹37,500 crore incentive scheme for coal and lignite gasification projects in May 2026 contributed to the increased interest, as Coal Gas India, the company's subsidiary, focuses on coal gasification projects.
