RIL, HDFC Bank, Axis To Max Healthcare: Jefferies Picks 12 Stocks For FPI Comeback
Reliance Industries is in focus in an institutional flows development.
· NDTV Profit
Financials have seen the largest sectoral FPI outflows since September 2024, at $17 billion, followed by consumer staples at around $11 billion.
The analysis
Against that, the stock is +0.7% on the day at ₹1,333.50, and has returned -0.8% over three months. It sits 16% below its 52-week high. The oil & energy sector has moved -0.9% over the same period, so Reliance Industries is running 0.1 points ahead of its peers.
This is an Index / institutional flows event. Passive and institutional flows move price independently of fundamentals, and around rebalancing dates they dominate it. On the day the stock is +0.7%, so the price barely moved, which suggests this was expected or is seen as immaterial.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Sustained FII or DII direction moves the whole market, not just the names being bought — it sets the tape's tone.
Market context
- The 3 companies named span 3 sectors, so these are separate company stories rather than one sector-wide move.
- On the day, 3 of 3 are higher: HDFC Bank leads at +1.8% and Max Healthcare trails at +0.7%.
- Over three months: Reliance Industries (RIL) -0.8% against Oil & Energy -0.9% (0.1 points ahead); HDFC Bank +9.2% against Banks -0.6% (9.8 points ahead); Max Healthcare -14.5% against Pharma & Healthcare +3.3% (17.8 points behind).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (RIL)RELIANCE · Oil & Energy | ₹1,333.50 | +0.7% | +13.2% | -0.8% | -16.3% | 0.1× | — |
| HDFC BankHDFCBANK · Banks | ₹812.20 | +1.8% | +12.8% | +9.2% | -19.5% | 0.2× | — |
| Max HealthcareMAXHEALTH · Pharma & Healthcare | ₹921.10 | +0.7% | +3.5% | -14.5% | -22.0% | 0.0× | — |
Oil & Energy
1M +4.2% · 3M -0.9%
Reliance Industries (RIL)
Banks
1M +3.8% · 3M -0.6%
HDFC Bank
Pharma & Healthcare
1M +7.9% · 3M +3.3%
Max Healthcare
Consumer & Retail
1M +0.1% · 3M -6.2%
Prices as of 11 Nov 2026, 09:21 IST. Sector moves are the average of the stocks we track in each sector.
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