Two Adani Group companies among bottom 10 stocks bought by mutual fund houses in H2 2023: Report

livemint.com:

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. 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.

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 ;