March 2024 results have begun and companies have also started to report their latest quarter’s shareholding pattern data.
The Indian Benchmark Indices, viz, Sensex and Nifty50, are trading in the green with the former gaining 0.47 percent and closing at 75,038.15 and the latter gaining 0.49 percent and closing at 22,753.80.
Listed below are two fundamentally strong stocks, viz, stocks with strong financials, lower leverage ratios, etc, in which Mutual Funds increased their stake by up to 1.20 percent as per the quarter ended March 2024:
Gulf Oil Lubricants India Limited
With a market capitalization of Rs 5,334.28 crores, the stocks of Gulf Oil Lubricants India Limited started their trading session on Wednesday at Rs 1,100 and closed the session at Rs 1,084.90, slipping approximately 1 percent compared to the previous closing levels of Rs 1,095.40 apiece.
The latest shareholding pattern data of the company, as per the quarter ended March 2024, portrays the Mutual Funds increasing their stake in the Bank by around 0.97 percent, viz, from 2.9 percent of holding during the December 2023 quarter to 3.87 percent of holding during the quarter ended March 2024.
Having a glance at the latest financials, the company’s basic parameters of business, i.e., its operating revenues as well as after-tax profits, reported a jump in numbers with the former moving up from Rs 802 crores during Q2FY24 to Rs 817 crores during Q3FY24, and the latter, keeping the timeframe the same, took a shift from Rs 74 crores to Rs 81 crores.
Anant Raj Limited
With a market capitalization of Rs 11,791.37 crores, the stocks of Anant Raj Limited started their trading session on Wednesday at Rs 348.85 and closed the session at Rs 345.80, gaining approximately 0.70 percent compared to the previous closing levels of Rs 343.40 apiece.
The latest shareholding pattern data of the company, as per the quarter ended March 2024, portrays the Mutual Funds increasing their stake in the Bank by around 1.17 percent, viz, from 0.04 percent of holding during the December 2023 quarter to 1.21 percent of holding during the quarter ended March 2024.
Having a glance at the latest financials, the company’s basic parameters of business, i.e., its operating revenues as well as after-tax profits, reported a jump in numbers with the former moving up from Rs 332 crores during Q2FY24 to Rs 392 crores during Q3FY24, and the latter, keeping the timeframe the same, took a shift from Rs 60 crores to Rs 71 crores.
Written by Amit Madnani
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