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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 red on Monday with the former slipping 0.97 percent and currently standing at 73,523.54 and the latter slipping 0.92 percent and currently standing at 22,311.45. 

Listed below are three small-cap stocks under Rs 100 in which Mutual Funds increased their stake by up to 5.10 percent as of the March 2024 quarter: 

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Spicejet Limited 

With a market capitalization of Rs 4,946.37 crores, the stocks of Spicejet Limited started their trading session on Monday at Rs 65 and currently trades at Rs 63.45, slipping approximately 6 percent compared to the previous closing levels of Rs 67.25 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 company by around 5.10 percent, viz, from 0.01 percent holding during the December 2023 quarter to 5.11 percent 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 underperforming numbers with the former moving down from Rs 2,004 crores during Q2FY24 to Rs 1,429 crores during Q3FY24 and the latter taking a dip from profits of Rs 198 crores to losses of Rs 449 crores. 

Paradeep Phosphates Limited 

With a market capitalization of Rs 5,639.63 crores, the stocks of Paradeep Phosphates Limited started their trading session on Monday at Rs 69.75 and currently trades at Rs 69.22, slipping approximately 3 percent compared to the previous closing levels of Rs 71.31 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 company by around 2.86 percent, viz, from 17.46 percent holding during the December 2023 quarter to 20.32 percent 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 opposing directions with the former, on one end, moving down from Rs 3,683 crores during Q2FY24 to Rs 2,595 crores during Q3FY24, and the latter, on the other end, shifting up from Rs 89 crores to Rs 109 crores.

Lancer Container Lines Limited 

With a market capitalization of Rs 1,635.25 crores, the stocks of Lancer Container Lines Limited started their trading session on Monday at Rs 71 and currently trades at Rs 71.55, slipping approximately 4.30 percent compared to the previous closing levels of Rs 74.76 apiece. 

The latest shareholding pattern data of the company, as per the quarter ended March 2024, portrays the Mutual Funds buying a fresh stake in the company by around 2.53 percent, viz, from a ‘nil’ rate of holding during the December 2023 quarter to 2.53 percent holding during the quarter ended March 2024. 

Having a glance at the latest financials, the company’s operating revenues showed a dip in numbers moving down from Rs 166 crores of revenues during Q2FY24 to Rs 151 crores of revenues during Q3FY24. Moreover, the after-tax profit numbers have stayed uniform at levels of Rs 14 crores. 

Written by Amit Madnani

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