MFs significantly increased their stake in these mid- and small-cap stocks

Mutual Funds are considered one of the prominent value investors as they select stocks based on solid research and have access to sophisticated resources. Hence, many retail investors tend to follow MFs for stock picking. In Q2FY24, MFs increased shareholding in select mid -and small-cap stocks. Data available from ACE Equity showed that as many as eight stocks have seen at least 10 percentage point jump in shareholding from MFs so far. Here are key things to know. 

SJS Enterprises: MF stake in SJS Enterprises jumped 17.53 percentage points in the recent quarter from 9.15 per cent in the Q1FY24 to 26.68 per cent in Q2. This automotive sector company has a current market cap of Rs 2,073 crore and its stock was trading at Rs 668 apiece on October 27. 

Yatra Online: In the recently listed Yatra Online, in July-September FY24, MFs bought a 16.28 per cent stake in the hospitality sector company. Previously, mutual funds had no stake in the stock. Yatra Online share was trading at Rs 126.3 with the latest m-cap is Rs 1,982 crore. 

TD Power Systems saw a 15.68 percentage point jump in shareholding from MFs. The stake increased from 15.76 per cent to 31.44 per cent in a quarter. Its stocks were trading at Rs 244.4 apiece and it had a market cap of Rs 3,817 crore. 

Coforge Ltd: In the case of IT sector stock Coforge, in Q2, MFs increased stake by 14.56 percentage points to take their total shareholding to 42.29 per cent. Coforge has a current m-cap of Rs 30,837 crore at the latest share price of Rs 5009.5. 

Sai Silks (Kalamandir) Ltd. is also a newly listed stock, where MFs bought a 14.47 per cent stake in Q2. Previously, MFs had no stake in the stock. Its stock was trading at Rs 242 apiece and it had a market cap of Rs 3,709 crore. 

Jupiter Life Line Hospitals: In another newly-listed healthcare sector company Jupiter Life Line Hospitals, MFs bought an 11.57 per cent stake in Q2. Its stock was trading at Rs 1027.4 apiece and it had a market cap of Rs 6,770 crore. 

NIIT Learning Systems and SBFC Finance have also seen MFs raise their stake by 11.44 percentage points and 10.79 percentage points, respectively, in Q2.  

 

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