Moneycontrol Analysis of BSE 500 Stocks shows that the MFs are increasing their stake through the last four quarters in about 68 stocks. The overall sentiment, however, turned weak after many of these stocks yielded negative returns but there are six stocks that churned out over 50 percent return
The trend shows that Indian mutual funds (MFs) have been making a consistent effort to prevent a steeper plunge in equities despite high volatility and weakness. In each of the last 12 months, the MFs remained net buyers in equities with a total net inflow of Rs 1.84 lakh crore. It will be interesting to see in which stocks they are parking their funds. Moneycontrol Analysis of BSE 500 Stocks shows that the MFs are increasing their stake through the last four quarters since September 2021 in about 68 stocks. The overall sentiment, however, turned weak after many of these stocks yielded negative returns in the last one year but there are six stocks on the list that churned out over 50 percent return in the same period (data source: ACE Equity). According to Bloomberg’s consensus rating, three out of six stocks are still likely to see a good upside potential over the next 12 months. The consensus rating is based on analyst recommendations.
Bharat Dynamics Ltd. | In the last one year, the stock has gained 82 percent to Rs 670 as on July 5. MFs increased their holding in the stock to 6.89 percent in the September 2021 quarter, 7.43 percent in the December 2021 quarter, 8.04 percent in the March 2022 quarter, and 9 percent in the June 2022 quarter. According to Bloomberg’s consensus rating, the stock has an upside potential of about 19 percent, with a target price of Rs 803.
Chalet Hotels Ltd. | In the last one year, the stock has risen 76 percent to Rs 334 as on July 5. MFs increased their holding in the stock to 16.53 percent in the September 2021 quarter, 19.06 percent in the December 2021 quarter, 19.61 percent in the March 2022 quarter, and 19.69 percent in the June 2022 quarter. According to Bloomberg’s consensus rating, the stock has an upside potential of about 13 percent, with a target price of Rs 374.
Hindustan Aeronautics Ltd. | In the last one year, the stock has climbed 65 percent to Rs 1757 as on July 5. MFs increased their holding in the stock to 4.71 percent in the September 2021 quarter, 4.95 percent in the December 2021 quarter, 6.05 percent in the March 2022 quarter, and 7.83 percent in the June 2022 quarter. According to Bloomberg’s consensus rating, the stock has an upside potential of about 23 percent, with a target price of Rs 2175.
Asahi India Glass Ltd. | In the last one year, the stock mopped up 62 percent gain to Rs 577 as on July 5. MFs increased their holding in the stock to 0.69 percent in the September 2021 quarter, 0.72 percent in the December 2021 quarter, 1.40 percent in the March 2022 quarter, and 1.43 percent in the June 2022 quarter. According to Bloomberg’s consensus rating, the stock has an upside potential of about 3 percent, with a target price of Rs 585.
Adani Enterprises Ltd. | In the last one year, the stock has added 61 percent to Rs 2245 as on July 5. MFs increased their holding in the stock to 0.82 percent in the September 2021 quarter, 1.64 percent in the December 2021 quarter, 1.81 percent in the March 2022 quarter, and 2.00 percent in the June 2022 quarter. According to Bloomberg’s consensus rating, the stock is likely to see a downside of about 9 percent, with a target price of Rs 2062.
Jamna Auto Industries Ltd. | In the last one year, the stock has surged 50 percent to Rs 129 as on July 5. MFs increased their holding in the stock to 9.82 percent in the September 2021 quarter, 11.48 percent in the December 2021 quarter, 12.72 percent in the March 2022 quarter, and 13.39 percent in the June 2022 quarter. According to Bloomberg’s consensus rating, the stock has an upside potential of about 2 percent, with a target price of Rs 130.
Ritesh Presswala Research Analyst at Moneycontrol
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