A ‘Mutual Fund’ is a trust that collects money from a pool of investors sharing a common investment objective and invests the same money in various instruments such as equities, bonds, and/or other securities.
Mutual Funds infuse money into/take money out of companies after their due diligence activities and consider other important factors in relation to the same.
According to the data released by ICICI Direct, listed below are 3 Mid-cap stocks in which Mutual Funds bought the most number of shares:
Star Health & Allied Insurance Company Limited
Star Health and Allied Insurance Company Limited is a health insurer based in India that focuses on the retail and group health segment. The company distributes its policies through individual agents and also comprises corporate agents & corporate agent banks. It covers three plans namely Health insurance, Accidental care insurance, and Travel insurance.
The company has a market capitalization of Rs 34,377 crores and its stock currently trades at Rs 591, around 1.3 percent up as compared to the previous closing price of Rs 583.45.
Mutual Funds had bought 41 lakh shares in the month of March 2023 which was further increased by 14 lakh shares (equating to a 34.14 percent increase) and stands at 55 lakh shares in the month of April 2023. The market value of their investments moved from Rs 210 crores during March v/s Rs 324 crores in the month of April 2023.
Poonawalla Fincorp Limited
Poonawalla Fincorp Limited is a non-banking finance company (NBFC) engaged in the business of providing asset finance. The company does financing for Commercial Vehicles, Construction Equipment, Used Vehicles, and also includes mortgages and loans to micro, small and medium enterprises (MSME).
The company has a market capitalization of Rs 25,879 crores and its stock currently trades at Rs 337, around 2.5 percent up as compared to the previous closing price of Rs 328.55.
Mutual Funds had bought 347 lakh shares in the month of March 2023 which was further increased by 89 lakh shares (equating to a 25.64 percent increase) and stands at 436 lakh shares in the month of April 2023. The market value of their investments moved from Rs 1,016 crores during March v/s Rs 1,408 crores in the month of April 2023.
Dixon Technologies (India) Limited
Dixon Technologies (India) Limited is engaged in the process of manufacturing electronic products in India. The company’s product portfolio includes Home appliances, Consumer electronics, Mobile phones, etc. Apart from the domestic sales of goods, the company exports its products outside India.
The company has a market capitalization of Rs 17,743 crores and its stock currently trades at Rs 2,982, around 0.70 percent up as compared to the previous closing price of Rs 2,961.10.
Mutual Funds had bought 72 lakh shares in the month of March 2023 which was further increased by 12 lakh shares (equating to a 16.66 percent increase) and stands at 84 lakh shares in the month of April 2023. The market value of their investments moved from Rs 2,052 crores during March v/s Rs 2,458 crores in the month of April 2023.
Written by Amit Madnani
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