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Business News/ Mutual Funds / Two Adani Group companies among bottom 10 stocks bought by mutual fund houses in H2 2023: Report
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Two Adani Group companies among bottom 10 stocks bought by mutual fund houses in H2 2023: Report

These companies were Adani Total Gas and Adani Energy Solutions. The other stocks in the bottom ten included Vedanta, SRF, Hindustan Zinc, Kotak Mahindra, Hindustan Unilever, RIL, SBI Cards and Infosys

Mumbai and Delhi together continued to account for 39.85 per cent of the pan-India AUM Premium
Mumbai and Delhi together continued to account for 39.85 per cent of the pan-India AUM

Adani Group’s two companies were among the bottom 10 large cap stocks when ranked on the basis of percent change in the average market cap during July-Dec 2023, shows Geojit’s report titled Fund Kaleidoscope, A wide-angle view on the Indian Fund Industry, Dec 2023 edition.

These two Adani Group companies are Adani Total Gas and Adani Energy Solutions. The other stocks in the bottom ten included Vedanta, SRF, Hindustan Zinc, Kotak Mahindra, Hindustan Unilever, RIL, SBI Cards and Infosys. 

Conversely, the stocks which were among the top 10 also included an Adani group company i.e., Adani Power. The other stocks in the top 10 included REC, Indian Railway Finance, PFC, Zomato, Polycab, Trent (Lakme) and Macrotech Developers.

For the period Jul-Dec 2023, total average market cap stood at 321.8 lakh crore, a new high, 17.7 per cent higher than Jan-Jun 23.

As far as mid cap stocks are concerned, the bottom 10 included Adani Wilmar, UPL, Gujarat Gas, Gujarat Fluorochemicals, Indraprastha Gas and Petronet LNG. At the same time, the top 10 stocks among the mid-caps included Suzlon Energy, Mazagon Dock Shipbuilders, Kalyan Jewellers and Jindal Stainless.

Category changes

The report also highlighted that there were a number of  category elevations under which eight midcaps became large caps and 12 smallcaps became midcaps in the second half (July-Dec) of 2023.

There were category declines wherein eight large caps declined to midcaps and 15 midcaps declined to small caps. 

Overall, an estimated 3.48 lakh crore were added to the market cap through 50 IPOs with 33 percent midcaps and 67 percent smallcaps.

Additionally, nearly 19 companies migrated from SME to Main Board in NSE and BSE.

Top cities investing 

Indian MF industry’s AUM further widened beyond the Top-10 cities during the quarter ended Dec’23.

Mumbai and Delhi together continued to account for 39.85 per cent of the pan-India AUM, as previous quarter and a new low. It was 41.7 per cent in Dec’22 ; 43.7 per cent in Dec’21 and 45.7 per cent in Dec’20.

Top five cities in terms of mutual fund AUM share include Mumbai (27.24%), Delhi (12.61%), Bengaluru (5.43%), Pune (3.96%) and Kolkata (3.67%). 

The next five are Chennai (3%), Ahmedabad (2.87%), Hyderabad (2%), Vadodara (0.90%) and Jaipur (0.84%). The report also noted that in top 10 cities, Chennai grew the most by 35.9 percent and Ahmedabad grew slower at 14.2 per cent.

Retail investors

The report also highlighted that retail investors had 90.7 percent of AUM in equity assets and 9.3 per cent in non-equity assets. It reached a high of 93.9 percent in Sept 2022 and is hovering above 90 percent since 2020. At the same time, non-retail investors had 67 per cent in equities and 33 percent in non-equity assets. 

 

 

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Published: 23 Feb 2024, 05:13 PM IST
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