6 stocks that FPIs and MFs bought with both hands in Q3; how they fared in Jan

Six stocks namely Mphasis Ltd, Swiggy Ltd, Sagility Ltd, Bank Of Maharashtra, RBL Bank Ltd and Anand Rathi Wealth Ltd saw strong mutual fund (MF) and foreign portfolio investor (FPI) buying in the December quarter, ahead of Union Budget 2026 on February 1, data available for December quarter suggested. Among these stocks, three stocks are up in January so far. 

In the case of RBI Bank, mutual fund holding jumped 384 basis points to 34.44 per cent in the December quarter from 30.6 per cent in the September quarter. FPI holding in this private lender jumped 642 bps to 21.91 per cent in Q3 from 15.49 per cent in Q2. The stock is down 6 per cent in January so far. 

RBL Bank’s Q3 results were a mixed bag. "While RBL Bank is confident of QoQ growth revival, it flagged elevated card slippages likely persisting for the next two quarters. This is a slight dampener, as credit card is a high RoA business and industry AQ trends seem to be recovering. We believe, RBL should sharpen its collection infra, customer selection and engagement," ICICI Securities said.

Swiggy Ltd shares have plunged 17 per cent in January so far amid heightened competition in the quick commerce business. With this the stock is also trading below its QIP price of Rs 375, at which the company raised Rs 10,000 crore in December. FPIs and mutual funds upped their stakes in the online food delivery platform sequentially by 384 basis points and 534 basis points, respectively. 

Bank of Maharashtra saw FPIs buying 2.57 per cent addition stake, while MFs also lapping up an additional 4.15 per cent stake. BoM's Q3 profit was 9 per cent above Systematix's estimates, sequentially driven by healthy net interest income (NII) higher fee income and lower provisions.

"We have revised our target price to Rs 80 (from Rs 73 earlier) and maintain our Buy rating on Bank of Maharashtra. We have moved our valuation to FY28E and are valuing the standalone bank at 1.4 times its FY28E book value per share of Rs 57," it said. This stock is up 5.36 per cent in January.

Sagility Ltd saw FPIs upping stake by 4.66 percentage points and MFs by 4.56 percentage points. The stock is up 2 per cent in January so far. 

Mphasis Ltd saw mutual funds increase their stake by 6.25 per cent, while FPIs added 1.27 per cent. Anand Rathi Wealth Ltd saw both mutual funds and FPIs raise their stakes by 1 per cent each. Both of these companies are out with their Q3 results. Mphasis' order book has expanded, execution and ramp up hold the key, said PL Capital as it suggested 'Buy' and a target of Rs 3,480 on the stock. This stock is down 3 per cent in January.

In the case of Anand Rathi Wealth, MOFSL said: "We cut our estimates by 2 per cent each for FY26, FY27 and FY28 to factor in weak quarterly performance. We reiterate our Neutral rating with a one-year target of Rs 3,100 (premised on 42 times FY28E EPS),"it said. This stock is down 5 per cent in January/