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Mutual Funds Increase Stakes in 12 Mid and Small-Cap Stocks in September 2024
Mutual funds are reshaping several mid and small-cap holdings, even as prices move in different directions. Data for the September quarter shows fresh conviction in selected stocks. Retail investors, who closely track fund portfolios, may use these shifts to gauge institutional views on earnings strength and balance-sheet quality.
According to ACE Equity, mutual funds raised stakes in 380 listed firms in the September quarter. Within this universe, exposure more than doubled in 12 specific stocks compared with the June quarter. The moves signal greater confidence in their fundamentals, despite many counters reporting negative returns in the past two months.
The 12 stocks where mutual funds more than doubled holdings span cement, chemicals, banking, healthcare, consumer durables and real estate. Their share prices moved between a 27% fall and a 20% rise since October. The table below summarises the percentage stakes and approximate price performance.
| Company | MF stake June 2024 (%) | MF stake September 2024 (%) | Recent price move | Approx. price (Rs.)* |
|---|---|---|---|---|
| Samman Capital | 0.44 | 11.40 | -12% since October | 141 |
| Marathon NextGen Realty | 2.29 | 10.60 | -6% since October | 533 |
| India Cements | 2.75 | 8.79 | +8% in two months | 414 |
| Thirumalai Chemicals | 0.73 | 8.11 | -23% since October | 217 |
| Vintage Coffee and Beverages | 2.32 | 5.18 | +11% since October | 164 |
| Asahi India Glass | 1.71 | 4.89 | +20% since October | 1,028 |
| EPACK Durable | 0.36 | 3.16 | -27% since October | 254 |
| Suryoday Small Finance Bank | 0.49 | 1.05 | -1% in two months | Not specified |
| Apcotex Industries | 0.32 | 1.58 | -6% in two months | 373 |
| Blue Jet Healthcare | 0.50 | 1.77 | -13% in two months | 547 |
| Suven Life Sciences | 0.01 | 2.08 | -19% since October | 164 |
| Tikanagar Industries | 0.99 | 2.41 | -2% since October | Not specified |
Among the gainers, India Cements saw mutual fund ownership climb from 2.75% in June to 8.79% in September. The share advanced around 8% in two months to about Rs.414. Vintage Coffee and Beverages reported a holding increase to 5.18% from 2.32%, while the price gained 11% to nearly Rs.164.
Asahi India Glass also joined the positive pack, with mutual funds taking their stake to 4.89% in September from 1.71% in June. The counter rallied about 20% over the period, trading near Rs.1,028. These moves suggest funds are seeking exposure to building-material and consumer-linked themes.
Mutual funds stock exposure where prices softened
Several stocks attracted higher mutual fund participation despite muted or negative recent returns. Marathon NextGen Realty saw holdings rise sharply to 10.60% from 2.29%, yet the stock slipped 6% to around Rs.533 since October. Tikanagar Industries witnessed stakes move from 0.99% to 2.41%, while the share price eased about 2%.
Suryoday Small Finance Bank reported mutual fund ownership of 1.05% in September, up from 0.49% in June. The stock, however, was down 1% over the last two months. Apcotex Industries saw holdings increase from 0.32% to 1.58%, even as the price declined 6% to roughly Rs.373 during the same window.
Mutual funds stock exposure in sharper fallers
Thirumalai Chemicals experienced a strong rise in institutional interest, with mutual funds lifting exposure from 0.73% in June to 8.11% in September. Despite that, the share lost about 23%, trading near Rs.217 since October. EPACK Durable showed a similar pattern, with stakes up from 0.36% to 3.16%, while the price corrected 27% to Rs.254.
Suven Life Sciences saw mutual fund holdings jump from 0.01% to 2.08% over the quarter. The counter still fell 19% to around Rs.164 since October. In Blue Jet Healthcare, funds raised their stake to 1.77% from 0.50%, but the share dropped 13% in two months to roughly Rs.547.
Samman Capital recorded one of the steepest stake changes, with mutual fund holdings at 11.4% in September versus 0.44% in June. Yet, the price slid 12% to around Rs.141 since October. Overall, these patterns highlight that mutual funds sometimes build positions through price weakness, focusing more on long-term fundamentals than on short-term market moves.
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