In the Indian stock markets, mutual funds (MFs) are regarded as one of the largest institutional investors. With more and more new investors entering the stock markets through the SIP route, the mutual fund industry's influence on Dalal Street is expanding quickly. MFs own a sizeable portion of shares in a number of Indian companies.
A selection of 10 equities with a significant (over 5%) ownership in mutual funds have seen a spike in ownership, reaching 617% in the current fiscal year 2023–24 (FY24), according to data from the corporate database ACE Equity. This stands in stark contrast to the performance of the BSE Sensex, the benchmark equities index, which has increased by around 25% during this time.
The biggest gainer on this list is GE T&D India. According to the most recent statistics, MFs owned 15% of this firm that produced electric equipment. On March 28, 2024, this capital goods sector stock had a 617% increase, from Rs. 118.65 to Rs. 850.55.
Therefore, an investment of Rs. 1 lakh made in GE T&D India a year ago would now be worth over Rs. 6 lakh. As of the now, its market value is Rs. 21,778 crore.
Inox Wind, a different stock in the Capital Goods industry, comes next. In FY24, this share increased by 458% from Rs. 93.4 to Rs. 521.45. Its most recent m-cap is 16,997 crore rupees. The holding share of mutual funds in Inox Wind was 8.94%.
Third place goes to Anand Rathi Wealth, whose stock price increased by 357% in FY24. On March 28, 2024, the share price increased from Rs. 807.4 to Rs. 3691.45. Now, its market capitalization is Rs. 15,441 crore. Anand Rathi Wealth, a stock in the finance sector, has a mutual fund holding of more than 9%.
Number four on the list is REC Ltd. The price of REC's shares increased by 290% during the current fiscal year (FY24) to Rs. 450.8 from Rs. 115.45. With an existing market capitalization of Rs. 1.19 lakh crore, this Finance sector PSU holds an 8.32% MF share.
With a stock price increase of 288% to Rs. 165 on March 28, 2024 from Rs. 42.5 a year earlier, Texmaco Rail & Engineering is rated sixth. This railway wagon manufacturer's market capitalization is at Rs. 6,325 crore, with a mutual fund ownership of 6.59%.
Other top-performing equities of FY24 in which mutual funds have a sizable ownership holding include Premier Explosives (up 276%), Voltamp Transformers (up 262%), Zomato (258%), Bharat Heavy Electricals (252%) and Titagarh Railsystems (250%).
