Data available from corporate database ACE Equity shows select 10 stocks with sizeable mutual Fund ownership have surged up to 617% in FY24.
Mutual funds (MFs) are considered as one of the biggest institutional investors in Indian stock markets. The clout of mutual fund industry is growing rapidly in Dalal Street with increasing number of new investors using SIP route to enter the equity markets. MFs have significant shareholding in several Indian firms.
Data available from corporate database ACE Equity shows that select ten stocks with sizeable (over 5%) Mutual Fund ownership have surged up to 617% in the current financial year 2023-24 (FY24). This is in sharp contrast to the performance of benchmark equity index, BSE Sensex, which has surged nearly 25% in this duration.
GE T&D India is the top gainer in this list. As per latest data MFs had a 15% stake in this electric equipment manufacturing company. This Capital Goods sector stock has surged 617% to Rs 850.55 on March 28, 2024 from Rs. 118.65, a year ago.
Hence, if one had invested Rs 1 lakh in GE T&D India last year then it would be valued over Rs. 6 lakh now. It has a latest market capitalisation of Rs. 21,778 crore.
It is followed by another Capital Goods sector stock Inox Wind. This share has gained 458% in FY24 to Rs. 521.45 from Rs. 93.4. It has latest m-cap of Rs. 16,997 crore. Mutual funds had 8.94% ownership stake in Inox Wind.
Anand Rathi Wealth is at the third spot with 357% jump in stock price in FY24. The share price rose to Rs 3691.45 on March 28, 2024 from Rs. 807.4 a year ago. It has a current m-cap of Rs. 15,441 crore. This Finance sector stock, Anand Rathi Wealth has over 9% mutual fund ownership.
REC Ltd. is at number four in the list. REC share price has jumped 290% to Rs. 450.8 from Rs. 115.45 in this financial year FY24. This Finance sector PSU has 8.32% MF stake and has a current m-cap of Rs. 1.19 lakh crore.
Texmaco Rail & Engineering is ranked fifth with stock price rising 288% to Rs. 165 on March 28, 2024 from Rs. 42.5 a year ago. This railway wagon maker company has 6.59% mutual fund shareholding and Rs. 6,325 crore latest market cap.
Premier Explosives (up 276%), Voltamp Transformers (up 262%), Zomato (258%), Bharat Heavy Electricals (252%) and Titagarh Railsystems (250%) are some other top performing stocks of FY24 in which mutual funds have some significant ownership stake.
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