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, closed in the red zone on Friday with the former slipping 1.06 percent and closing at 74,244.90 and the latter slipping 1.03 percent and closing at 22,519.40. In addition, the Nifty PSE index slipped around 63 points and closed at 9,581.30.
Listed below are three public-sector undertaking (PSU) stocks in which Mutual Funds increased their stake by up to 3.80 percent as per the quarter ended March 2024:
Gujarat State Fertilizers & Chemicals Limited
With a market capitalization of Rs 9,372.19 crores, the stocks of Gujarat State Fertilizers & Chemicals Limited (GSFC) closed their trading session on Friday at Rs 235.20, slipping approximately 2 percent compared to the previous closing levels of Rs 239.90 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 0.94 percent, viz, from 2.12 percent of holding during the December 2023 quarter to 3.06 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 dip in numbers with the former moving down from Rs 3,017 crores during Q2FY24 to Rs 1,943 crores during Q3FY24, and the latter, keeping the timeframe the same, took a downward shift from Rs 285 crores to Rs 112 crores.
Indian Bank
With a market capitalization of Rs 70,917.65 crores, the stocks of Indian Bank closed their trading session on Friday at Rs 526.50, slipping approximately 0.40 percent compared to the previous closing levels of Rs 528.35 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 1.18 percent, viz, from 10.53 percent of holding during the December 2023 quarter to 11.71 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 13,764 crores during Q2FY24 to Rs 14,203 crores during Q3FY24, and the latter, keeping the timeframe the same, took a shift from Rs 2,069 crores to Rs 2,207 crores.
Written by Amit Madnani
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