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    Opportunity in market correction: New midcap stocks that MFs added in October

    The correction in equity markets due to geo-political reasons has provided the fund manager to add a fresh position in the quality midcap stocks with attractive valuations

    Dhuraivel Gunasekaran
    November 18, 2023 / 09:39 PM IST
    Global equity markets including India were on the correction mode in October mainly due to the global events such as rising US Treasury yields and the geopolitical conflict between Israel and Hamas. Nifty Midcap 100 index (-4.1%) underperformed the other broader indices - Nifty 50 (-2.8%) and Nifty smallcap (-0.8%) during month. The correction has provided the fund manager to re-enter or add the quality midcap stocks with attractive valuations. Here are the top midcap stocks that were bought afresh by the actively managed mutual funds in October 2023. Source: ACEMF. Data as of October 30, 2023
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    Global equity markets including India were on correction mode in October mainly due to the global events such as rising US Treasury yields and the geopolitical conflict between Israel and Hamas. Nifty Midcap 100 index (-4.1%) underperformed the other broader indices - Nifty 50 (-2.8%) and Nifty smallcap (-0.8%) - during the month. The correction has provided fund managers the opportunity to re-enter or add the quality midcap stocks with attractive valuations. Here are the top midcap stocks that were bought afresh by the actively managed mutual funds in October 2023. Source: ACEMF. Data as of October 30, 2023
    One97 Communications No. of active equity schemes newly added the stock in October: 23 Total no. of active equity schemes holding the stock: 58 Who added?: Quant Teck, UTI Innovation and Union Focused Fund
    2/11
    One97 Communications
    No. of active equity schemes newly added the stock in October: 23
    Total no. of active equity schemes holding the stock: 58
    Who added?: Quant Teck, UTI Innovation and Union Focused Fund
    Dixon Technologies (India) No. of active equity schemes newly added the stock in October: 21 Total no. of active equity schemes holding the stock: 105 Who added?: Edelweiss Focused Equity, HSBC Consumption and Canara Rob Infrastructure Fund Also see: Macro proof your SIPs with this MC30 midcap fund by Edelweiss MF
    3/11
    Dixon Technologies (India)
    No. of active equity schemes newly added the stock in October: 21
    Total no. of active equity schemes holding the stock: 105
    Who added?: Edelweiss Focused Equity, HSBC Consumption and Canara Rob Infrastructure Fund

    Also see: Macro proof your SIPs with this MC30 midcap fund by Edelweiss MF
    Shriram Finance No. of active equity schemes newly added the stock in October: 13 Total no. of active equity schemes holding the stock: 94 Who added?: Union Midcap, Edelweiss Multi Cap and SBI Flexicap Fund
    4/11
    Shriram Finance
    No. of active equity schemes newly added the stock in October: 13
    Total no. of active equity schemes holding the stock: 94
    Who added?: Union Midcap, Edelweiss Multi Cap and SBI Flexicap Fund
    Tata Communications No. of active equity schemes newly added the stock in October: 10 Total no. of active equity schemes holding the stock: 57 Who added?: Quant ESG Equity, Aditya Birla SL Equity Savings and ICICI Pru Midcap Fund Also see: Long-term smallcap companies that equity savings funds put their money on
    5/11
    Tata Communications
    No. of active equity schemes newly added the stock in October: 10
    Total no. of active equity schemes holding the stock: 57
    Who added?: Quant ESG Equity, Aditya Birla SL Equity Savings and ICICI Pru Midcap Fund

    Also see: Long-term smallcap companies that equity savings funds put their money on
    Aurobindo Pharma No. of active equity schemes newly added the stock in October: 81 Total no. of active equity schemes holding the stock: 7 Who added?: HDFC Pharma and Healthcare, UTI Multi Asset Allocation and Mahindra Manulife Mid Cap Fund
    6/11
    Aurobindo Pharma
    No. of active equity schemes newly added the stock in October: 81
    Total no. of active equity schemes holding the stock: 7
    Who added?: HDFC Pharma and Healthcare, UTI Multi Asset Allocation and Mahindra Manulife Mid Cap Fund
    Colgate-Palmolive (India) No. of active equity schemes newly added the stock in October: 38 Total no. of active equity schemes holding the stock: 7 Who added?: NJ ELSS Tax Saver, Shriram Flexi Cap and SBI Dividend Yield Fund Also see: Thematic ETFs: Low on liquidity but worth a look
    7/11
    Colgate-Palmolive (India)
    No. of active equity schemes newly added the stock in October: 38
    Total no. of active equity schemes holding the stock: 7
    Who added?: NJ ELSS Tax Saver, Shriram Flexi Cap and SBI Dividend Yield Fund

    Also see: Thematic ETFs: Low on liquidity but worth a look
    Info Edge (India) No. of active equity schemes newly added the stock in October: 73 Total no. of active equity schemes holding the stock: 7 Who added?: UTI Innovation, Franklin India Equity Advantage and Bandhan Core Equity Fund
    8/11
    Info Edge (India)
    No. of active equity schemes newly added the stock in October: 73
    Total no. of active equity schemes holding the stock: 7
    Who added?: UTI Innovation, Franklin India Equity Advantage and Bandhan Core Equity Fund
    REC No. of active equity schemes newly added the stock in October: 114 Total no. of active equity schemes holding the stock: 7 Who added?: SBI PSU, NJ Flexi Cap and ITI Mid Cap Fund Also see: Contrarian bets in market peaks: Midcap stocks that have turned contra fund favourites
    9/11
    REC
    No. of active equity schemes newly added the stock in October: 114
    Total no. of active equity schemes holding the stock: 7
    Who added?: SBI PSU, NJ Flexi Cap and ITI Mid Cap Fund

    Also see: Contrarian bets in market peaks: Midcap stocks that have turned contra fund favourites
    The Ramco Cements No. of active equity schemes newly added the stock in October: 59 Total no. of active equity schemes holding the stock: 7 Who added?: Taurus Infrastructure, HSBC Business Cycles and LIC MF Equity Savings Fund
    10/11
    The Ramco Cements
    No. of active equity schemes newly added the stock in October: 59
    Total no. of active equity schemes holding the stock: 7
    Who added?: Taurus Infrastructure, HSBC Business Cycles and LIC MF Equity Savings Fund
    Union Bank Of India No. of active equity schemes newly added the stock in October: 47 Total no. of active equity schemes holding the stock: 7 Who added?: Bank of India Mid & Small Cap Equity & Debt, Taurus Banking & Fin Serv and Bank of India Tax Advantage Fund Also see: 15 smallcap gems that category III AIFs love to hold
    11/11
    Union Bank Of India
    No. of active equity schemes newly added the stock in October: 47
    Total no. of active equity schemes holding the stock: 7
    Who added?: Bank of India Mid & Small Cap Equity & Debt, Taurus Banking & Fin Serv and Bank of India Tax Advantage Fund

    Also see: 15 smallcap gems that category III AIFs love to hold
    Dhuraivel Gunasekaran
    Dhuraivel Gunasekaran
    Tags: ##personalfinance #invest #midcap stocks #Mutual Funds
    first published: Nov 14, 2023 07:25 am

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