Many investors, specifically retail investors, pay close attention to mutual fund investments in the stock market because they invest huge quantities that have the potential to impact stock price changes.
Furthermore, because ordinary investors find it difficult to find all important information about a company, they tend to follow the activities of institutional money, notably mutual funds, to make investment decisions. These institutions make equity investments after conducting considerable research to ensure the correctness of their results.
Here are three companies in which Mutual Fund Holdings grew by up to 17.53% in Q2FY24 compared to Q1 FY 24.
NRB Bearings Ltd
On Friday, shares of NRB Bearings closed at Rs 271, down 0.86 percent from the previous close price, with a market value of Rs 2,627 crores.
Mutual funds increased their stake in the company by 8.3 percent,i.e., from 11.18 percent in Q1FY24 to 19.48 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters held 50.63 percent of the firm, while foreign investors held 14.31 percent.
The stock has gained by 87 percent in the last six months and by 51 percent in the last year.
NRB Bearings operational revenue has increased by 15 percent year on year, from Rs 236 crore in Q1FY23 to Rs 272 crore in Q1FY24. During the same period, net profit declined by 25 percent, from Rs 24 crore to Rs 18 crore.
In the recent financial year,the company reported net profit margin at 8.97 percent and operating margin at 14.92 percent.
NRB Bearings Limited produces ball bearings, roller cages, needle cages, and precise steel balls for vehicles. They service the automotive sector as well as the agency division, and NRB Ltd.-produced bearings are found in more than 90% of the autos on Indian roads.
SJS Enterprises Ltd
SJS Enterprise shares closed at Rs 271 on Friday, down 0.86 percent from the previous close price, with a market capitalization of Rs 2,626 crores.
Mutual funds increased their stake in the company by 17.53 percent,i.e., from 9.15 percent in Q1FY24to 26.68 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters held 21.8 percent of the firm, while foreign investors held 14.27 percent.
In the previous six months, the stock has increased by 74 percent, and in the last year, it has increased by 61 percent.
SJS Enterprises Ltd’s operational revenue has increased by 12 percent year on year, from Rs 73 crore in Q1FY23 to Rs 82 crore in Q1FY24. During the same period, net profit climbed by 6.5 percent, from Rs 15 crore to Rs 16 crore.
In the recent financial year,the company reported net profit margin at 19.84 percent and operating margin at 26.79 percent.
SJS Enterprises Ltd offers a “design-to-delivery” aesthetics solutions from design to development.Ands company manufactures a diverse product portfolio for a wide range of customers primarily in the automotive and consumer appliance industries.
Sula Vineyards Ltd
Sula Vineyards shares were trading at Rs 479.95 on Friday, down 1.86 percent from the previous close price, with a market capitalization of Rs 4,050 crores.
Mutual funds increased their stake in the company by 7.49 percent, i.e., from 8.97 percent in Q1FY24 to 16.46 percent in Q2FY24. As of the September quarter of FY 23-24, the promoters held 26.27 percent of the firm, while foreign investors held 20.61 percent.
The stock has gained by 24 percent in the last six months and by 43 percent in the last year.
Sula Vineyards Ltd operational revenue has increased by 9 percent year on year, from Rs 98 crore in Q1FY23 to Rs 107 crore in Q1FY24. During the same period, net profit has increased by 45 percent, from Rs 11 crore to Rs 16 crore.
In the recent financial year, the company reported net profit margin at 17.92 percent and operating margin at 27.94 percent.
Sula Vineyards Ltd produces and sells wine. The company’s operations are separated into two categories: wine production and wine and spirits imports.
Written by Omkar Chitnis
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