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As the current earnings season has almost ended, it might be a good time to have a look at which companies have attracted the highest mutual fund interest in the June 2023 quarter. To help you figure out where the biggies are investing, here’s a list of 2 large-cap stocks that remained the favorite of MFs in Q2 CY23.
Note: The list is based on the info available as of 14 August 2023.
Mankind Pharma Limited
Mankind Pharma Ltd (BO:) is a well-known pharmaceutical company with a market capitalization of INR 73,772 crore, making it the 79th largest listed company on the NSE. It is a new listing on the Indian bourses, having marked its debut on 9 May 2023. In FY23, the company posted record revenue of INR 8,890.42 crore, which was a decent 11.2% YoY jump.
The company was the favorite of mutual funds in the June 2023 quarter, as they more than doubled their interest to 3.92%, from 1.83% in the preceding quarter. FIIs also ramped up their stake from 2.61% to 4.18% in the same period.
Zomato Limited
Zomato Ltd (NS:) is a famous food delivery platform with a market capitalization of INR 79,403 crore. Recently the stock made a buzz on the street as it turned profitable for the first time ever, reporting a net profit of INR 2 crore in Q1 FY24. The management is also confident to turn its quick-commerce arm Blinkit profitable soon.
It seems like the worst is over for Zomato and this is what mutual funds are also sensing as they bought a 1.89% stake in the company in June 2023 quarter, totaling 8.3%, from 6.4% a quarter ago. The stock has risen sharply this year, and therefore waiting for a dip to accumulate the stock would be a better idea than making an impulsive purchase at the CMP.
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