CAMS, Dixon, Amber, Kaynes, Shriram Finance, Coforge: Institutional investors bought these stocks in FY24

Coforge Ltd, Computer Age Management Services Ltd (CAMS), Sapphire Foods India Ltd, HDFC Asset Management Company Ltd, Home First Finance Company India Ltd, Medplus Health Services Ltd and Kaynes Technology India Ltd were among 13 BSE500 stocks where mutual funds and foreign portfolio investors (FPIs) upped stakes by at least 300 basis points each over the first nine months of FY24.

Others included Timken India Ltd, Dixon Technologies (India) Ltd, Shriram Finance Ltd, IIFL Finance Ltd, Amber Enterprises India Ltd and Bikaji Foods International Ltd. Four of these stocks delivered multibagger returns, half delivered returns in excess of 35 per cent, data compiled from corporate database AceEquity suggests.

Mutual funds upped stake in Coforge by 19.33 percentage points to 42.77 per cent by the end of December quarter from 23.44 per cent at the end of March 2033 quarter. FPIs upped stake in this IT stock by 864 basis points during the same period to 34.04 per cent. This stock gained 50 per cent in FY24.

CAMS saw its shares rallying 44 per cent tin FY24, as domestic funds upped stakes in the company by 741 basis points while FPIs increased their holding by 12.69 percentage points.

Sapphire Foods India Ltd saw MF holding rising 458 basis points and FPI by 14.48 percentage points. This stock gained 28.73 per cent for the financial year.

HDFC AMC shares more than doubled during this period. The stock gained 123 per cent as MFs (up 4.44 percentage points) and FPIs (10.49 percentage points) bought its shares with both hands, data showed.

Mutual funds and FPIs together upped stakes by 12.82 percentage points in Home First Finance Company India, 11.67 percentage points in Medplus Health Services Ltd, 11.39 percentage points in Kaynes Technology India Ltd and 11.33 percentage points in Timken India Ltd.

They also upped stake in Dixon Technologies (10.77 percentage points) by nearly 1,100 basis points.

Shriram Finance Ltd, IIFL Finance Ltd, Amber Enterprises India Ltd and  Bikaji Foods International Ltd saw 6-9 percentage points jump in combined MF and FPI stakes. Among the above stocks Kaynes Technology India Ltd shares rallied 197 per cent in FY24, Shriram Finance Ltd saw 88 per cent rally, Dixon Technologies (India) Ltd soared 168 per cent and Amber Enterprises India Ltd climbed 100 per cent in FY24.