However, money flew into the midcap and smallcap funds in all the months of 2023. While midcap funds garnered inflows worth Rs 14,444 crore, smallcap funds attracted inflows of Rs 26,305 crore. On the contrary, largecap funds have seen net outflows of Rs 3,607 crore in the same period.
ETMarkets analysed the stocks that have been most popular among mutual funds and have given multibagger returns to investors.
Here’s a look at those stocks which are part of atleast five smallcap schemes of mutual funds.
Cholamandalam Financial Holdings: This non-bank financial stock has given a whopping 102% returns so far in FY24. The stock is quite popular among mutual funds, as it is held by atleast 10 mutual fund schemes. The smallcap funds of Aditya Birla Sun Life MF, Axis MF, Bandhan MF, Bank of India MF, Canara Robeco MF, Franklin Templeton MF, Mahindra Manulife MF, Sundaram MF, ICICI Prudential MF, and UTI Asset Management held the stock as of August.
BEML: Shares of the electrical equipment maker gained a lot of traction, particularly after the increasing focus of the government to build defence equipment in house.
The stock has given 107% returns to investors in the last six months. The smallcap schemes of Aditya Birla Sun Life MF, Invesco MF, HDFC MF, Kotak Mahindra AMC, and Sundaram MF held the stock as of August. Suzlon Energy: Shares of the wind turbine maker have gained investor interest, particularly after the debt restructuring by the company and the increasing thrust by the government on renewable energy.
The stock has given a strong 204% returns to investors since April. The smallcap schemes of Bandhan MF, ITI MF, Mahindra Manulife MF, UTI MF, and Edelweiss MF held the stock as of August.
Kaynes Technology: Shares of the IoT solutions provider primarily to aerospace, automobiles, and industrial sectors, clocked significant gains in the last six months, giving investors nearly 129% returns.
The smallcap schemes of Axis MF, Bank of India MF, Canara Robeco MF, Invesco MF, and Nippon India MF held the stock as of August.
Ujjivan Financial Services :Shares of the non-bank financial lender joined many of its peers in the bull run as the strong credit growth and recovery in rural consumption bolstered the outlook for the sector. The stock has given 105% returns in the last six months.
The smallcap schemes of Aditya Birla MF, Bandhan MF, ITI MF, Mahindra Manulife MF, and Sundaram MF held the stock as of August.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)