Top 3 Stocks with High Piotroski Score of 9 Attracting FII Investment

The Piotroski score is a financial metric developed by accounting professor Joseph Piotroski to measure the strength of a company’s fundamentals by analyzing its financial statements. It uses nine criteria related to profitability, leverage, liquidity, and operating efficiency, assigning a score between 0 and 9. Companies with higher Piotroski scores are generally considered financially healthy and potentially better investment candidates, especially among value stocks. This article explores three such companies that have a Piotroski score of 9 and have attracted significant FII investment.

KPIT Technologies Ltd

KPIT Technologies Ltd is a global technology company with software solutions that are driving the future of mobility towards autonomy, cleanliness, and connectivity. With a workforce of over 13,000 employees, KPIT specializes in embedded software, AI, and digital solutions, enabling customers to accelerate the implementation of next-generation mobility technologies. The company has development centers in Europe, the USA, Japan, China, Thailand, and India.

With a market cap of Rs 32,782 crore, KPIT Technologies Ltd shares are currently trading at Rs 1,196 and have delivered a remarkable return of 1,050% over the last five years. The shares have a Piotroski score of 9 out of 9, and 14.31% of its shares are held by FIIs, including a 3.11% stake by the Massachusetts Institute of Technology.

National Aluminium Company Ltd (NALCO)

NALCO is a Navaratna Central Public Sector Enterprise under the Ministry of Mines. It is one of the largest integrated bauxite-alumina-aluminium-power complexes in India and one of the largest integrated primary producers of aluminium in Asia.

With a market cap of Rs 47,348 crore, NALCO shares are trading at Rs 258 and have provided a return of 618% over the last five years. The shares have a Piotroski score of 9 out of 9, and 16.22% of its shares are held by FIIs, including several foreign portfolio investors of both categories 1 and 2.

NALCO has a fully integrated aluminium setup, starting from the source. The company operates with 7.5 MTPA of bauxite mining, which feeds into a 2.1 MTPA alumina refinery. This material is then processed in an aluminium smelter with a 0.46 MTPA capacity. To ensure smooth operations, the company is supported by a 1,200 MW captive power plant and 4 MTPA of coal from Utkal D & E. This integrated value chain ensures efficient and self-reliant aluminium production.

MCX Ltd – Multi Commodity Exchange of India Ltd

MCX, which commenced operations in November 2003, is India’s first listed, national-level, electronic exchange and the leading commodity derivatives exchange in India. The exchange operates under the regulatory oversight of SEBI.

With a market cap of Rs 50,277 crore, MCX shares are currently trading at Rs 9,858 and have delivered a return of 512% over the last five years. The shares have a Piotroski score of 9 out of 9, and 19% of its shares are held by FIIs, including a 3.26% stake by the Government Pension Fund Global.

MCX is a dominant player in India’s commodity futures market, holding a massive 98.8% market share in H1 FY25-26. The exchange's trading activity is primarily driven by precious metals, with gold leading at 48.72%, followed by silver at 27.39%. Energy contracts also see strong activity, with natural gas at 12.83% and crude oil at 4.93%. Base metals like aluminium, zinc, lead, and copper contribute only small percentages. Overall, the trading activity on MCX is heavily focused on gold, silver, and energy products.

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