These 7 stocks are held by maximum number of midcap MF schemes

ETMarkets compiled a list of stocks that were most widely held by midcap mutual fund schemes as of January 2024, according to ACE MF data.

Approximately seven stocks were held by more than 20 mid-cap MF schemes. Intriguingly, all these stocks have yielded positive returns in FY24 thus far, with six out of seven stocks showing gains ranging from 15% to 75% during the same period.

Mid-cap mutual funds are those that invest at least 65% of their corpus in companies lying between 101 and 250 by market capitalization, according to mutual fund body AMFI’s classification. These companies have the potential to become large entities in the future and the ability to outperform even large-cap funds or diversified equity funds during a bull run.

Coforge

As of January ’24, Coforge is held by 24 midcap mutual fund schemes, with a total market value of Rs 5,391 crore. In FY24 to date, the stock has surged 73% to reach Rs 6605 from its value of Rs 3817 on March 31, 2023. The top 5 schemes by market value that held the stock include HDFC Mid-Cap Opportunities Fund(G), Axis Midcap Fund-Reg(G), Motilal Oswal Midcap Fund-Reg(G), DSP Midcap Fund-Reg(G), and Mirae Asset Midcap Fund-Reg(G).

The Federal Bank

As of January ’24, The Federal Bank is held by 24 midcap mutual fund schemes, with a total market value of Rs 5,870 crore. In FY24 to date, the stock has surged 15% to reach Rs 152 from its value of Rs 132 on March 31, 2023. The top 5 schemes by market value that held the stock include HDFC Mid-Cap Opportunities Fund(G), Kotak Emerging Equity Fund(G), Mirae Asset Midcap Fund-Reg(G), DSP Midcap Fund-Reg(G), and Nippon India Growth Fund(G).

Persistent Systems

As of January ’24, Persistent Systems is held by 22 midcap mutual fund schemes, with a total market value of Rs 7,416 crore. In FY24 to date, the stock has surged 88% to reach Rs 8652 from its value of Rs 4609 on March 31, 2023. The top 5 schemes by market value that held the stock include Kotak Emerging Equity Fund(G), HDFC Mid-Cap Opportunities Fund(G), Axis Midcap Fund-Reg(G), Motilal Oswal Midcap Fund-Reg(G), and Nippon India Growth Fund(G).

Mphasis

As of January ’24, Mphasis is held by 21 midcap mutual fund schemes, with a total market value of Rs 2,589 crore. In FY24 to date, the stock has surged 52% to reach Rs 2725 from its value of Rs 1796 on March 31, 2023. The top 5 schemes by market value that held the stock include HDFC Mid-Cap Opportunities Fund(G), Axis Midcap Fund-Reg(G), Franklin India Prima Fund(G), Kotak Emerging Equity Fund(G), and Nippon India Growth Fund(G).

Max Financial Services

As of January ’24, Max Financial Services is held by 21 midcap mutual fund schemes, with a total market value of Rs 4,032 crore. In FY24 to date, the stock has surged 46% to reach Rs 930 from its value of Rs 635 on March 31, 2023. The top 5 schemes by market value that held the stock include HDFC Mid-Cap Opportunities Fund(G), Nippon India Growth Fund(G), Kotak Emerging Equity Fund(G), Mirae Asset Midcap Fund-Reg(G), and DSP Midcap Fund-Reg(G).

Schaeffler India

As of January ’24, Schaeffler India is held by 21 midcap mutual fund schemes, with a total market value of Rs 3,261 crore. In FY24 to date, the stock has surged 2% to reach Rs 2923 from its value of Rs 2874 on March 31, 2023. The top 5 schemes by market value that held the stock include Kotak Emerging Equity Fund(G), Axis Midcap Fund-Reg(G), SBI Magnum Midcap Fund-Reg(G), DSP Midcap Fund-Reg(G), and UTI Mid Cap Fund-Reg(IDCW).

Voltas

As of January ’24, Voltas is held by 20 midcap mutual fund schemes, with a total market value of Rs 2,369 crore. In FY24 to date, the stock has surged 34% to reach Rs 1095 from its value of Rs 818 on March 31, 2023. The top 5 schemes by market value that held the stock include Kotak Emerging Equity Fund(G), Nippon India Growth Fund(G), Axis Midcap Fund-Reg(G), Motilal Oswal Midcap Fund-Reg(G), and Sundaram Mid Cap Fund-Reg(G).