Why are FIIs piling into Granules India?

The Hyderabad-based mid-cap has seen a substantial jump in FII holding

Ever since ace investor Raamdeo Agrawal disclosed the names of probable 100-baggers in his 100X study in December last year, investors have been closely tracking them. One such stock, Granules India has been in the news lately as it has seen considerable FII interest. After falling from 4.04% in March, 2015 to 2.85% in June, 2015, FII stake has increased to 7.25% in September, 2015. During the same period, DIIs have also increased their stake from 0.07% to 1.02%.