The Public or the Retail Investors give special attention to those companies where the Mutual Fund houses are favorable and increase their stake from time to time.
The reason behind following the footprints of this mutual fund is due to the lack of experience and time that an ordinary investor has. Usually, Mutual Funds invest or show interest in a company only after conducting considerable research so that the amount they park can fetch fruitful returns.
Here are four companies in which Mutual Funds holding grew by up to 3.88 percent during Q2 FY24:
Federal Bank
On Thursday, the shares of the federal bank opened at Rs. 141 apiece, up by 1 percent from its previous close, with a market capitalization of Rs. 34,133 crores.
Mutual Funds has increased its stake by 3.88 percent from 31.69 percent during Q1 FY24 to 35.57 percent in Q2 FY24. As of the September quarter, the FIIs held 27.01 percent of the company’s shares. The company has zero promoter holdings as it is managed by a professional team.
The private banking company’s revenue increased by 34 percent YoY from Rs. 4,886 crores during Q2 FY23 to Rs. 6,548 crores in Q2 FY24. During the same period, the net profit increased from Rs. 740 crores to Rs. 1,000 crores.
ACC Ltd
With a market capitalization of Rs. 34,606 crores, the shares of ACC Ltd opened their day at Rs. 1,851 making a gain of around 2 percent.
Mutual Funds have increased their stake by 3.31 percent from 9.21 percent during the June quarter to 12.52 percent in the September quarter. According to the latest shareholding pattern, Promoters have a 56.69 percent stake in the company, while foreign investors hold 7.1 percent in the company’s shares.
The cement manufacturing company reported an increase in revenue by 11 percent YoY from Rs. 3,987 crores during Q2 FY 23 to Rs. Rs. 4,434 crores in Q2 FY24.In addition to this, there was a shift from a net loss of Rs. 87 crores to a net profit of Rs. 387.85 crores keeping the timeframe the same.
Glenmark Pharmaceuticals Ltd
The shares of the pharma company opened at Rs. 748 apiece on Thursday’s trading session, with a market capitalization of Rs. 21,052 crores.
Mutual Funds have increased their stake in the company by 1.94 percent from 5.3 percent in Q1 FY24 to 7.3 percent during Q2 FY 24. The promoters of the company held a 46.65 percent stake and foreign investors had 24.79 percent shares.
The pharma company reported an increase in revenue by 23 percent from Rs. 2,777 crores during Q1 FY24 to Rs. 3,401 crores in Q2 FY24. On a contrasting note, the net profit declined from Rs. 192 crores to Rs. 149 crores during the same period.
NMDC Ltd
The shares of the metal company opened their today’s trading session at Rs. 154 apiece, with a market capitalization of Rs. 44,984 crores.
Mutual Funds increased their stake by 1.49 percent from 6.7 percent in the June quarter to 8.19 percent in the September quarter. The promoters or the Government of India hold 60.79 percent and 8.32 percent of shares are with FIIs.
The Navratna company recorded an increase in revenue by 13.17 percent from Rs. 4,767 crores during Q2 FY23 to Rs. 5,394 crores in Q2 FY24. In addition to this, the net profit magnified from Rs. 1,441 crores to Rs. 1,652 crores.
Written By Vaibhav Patil
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