Active fund managers bet big on these largecap stocks from the beaten down Nifty Next 50 index
Many quality largecap stocks from the Nifty Next 50 index corrected significantly and are available now at reasonable valuation. Active fund managers use Nifty Next50 index to pick out tomorrow’s winners
The Nifty Next 50 index (NN50) has been going through a rough patch over the last 2-3 years. NN50 consists of stocks ranked between the 50th and 100th most liquid stocks on the NSE after the Nifty 50 index (N50). Over the last few years, the NN50 has delivered underperforming return against the N50 mainly due the significant correction in different set of stocks in different time frames. For instance, correction in the stocks of Zydus Lifesciences and Vodafone Idea in the year 2019, Hindustan Zinc and Piramal Enterprises in 2020, Zomato, Paytm Money, Lupin and NMDC in 2022 and, Biocon and Adani stocks in 2023 dampened the overall performance of the index. Though, it delivered a competing returns over long term. Despite the fact that many active fund managers have increased position in these stocks lately assuming that they could turnaround and deliver better return going ahead. Here are the top NN50 stocks that were added afresh by the active fund managers over the last three months. Source: ACEMF. Portfolio data was as of March 31, 2023.
2/13
LTIMindtree No. of active schemes that added the stock afresh: 48 Total no. of active schemes that hold the stock currently: 149 Sample of active schemes that newly added the stock: Quant Tax, Motilal Oswal Flexi Cap and Invesco India Contra
3/13
GAIL (India) No. of active schemes that added the stock afresh: 34 Total no. of active schemes that hold the stock currently: 82 Sample of active schemes that newly added the stock: DSP Equity Opportunities, SBI Dividend Yield and Invesco India Tax Plan
4/13
Hindustan Aeronautics No. of active schemes that added the stock afresh: 32 Total no. of active schemes that hold the stock currently: 117 Sample of active schemes that newly added the stock: ICICI Pru Technology, Franklin India Prima and Motilal Oswal Balance Advantage Also read: 14 mid-cap stocks held by mutual funds yet to unlock their potential. Do you own any?
Samvardhana Motherson International No. of active schemes that added the stock afresh: 26 Total no. of active schemes that hold the stock currently: 92 Sample of active schemes that newly added the stock: ICICI Pru LT Equity Fund (Tax Saving), Tata Multicap and Invesco India Multicap
6/13
Interglobe Aviation No. of active schemes that added the stock afresh: 23 Total no. of active schemes that hold the stock currently: 104 Sample of active schemes that newly added the stock: Bandhan Core Equity, ICICI Pru Infrastructure and Canara Rob Consumer Trends
7/13
Siemens No. of active schemes that added the stock afresh: 19 Total no. of active schemes that hold the stock currently: 95 Sample of active schemes that newly added the stock: PGIM India Flexi Cap, HSBC Large & Mid Cap and Aditya Birla SL Multi Asset Allocation
8/13
HDFC Asset Management Company No. of active schemes that added the stock afresh: 16 Total no. of active schemes that hold the stock currently: 44 Sample of active schemes that newly added the stock: SBI Large & Midcap, PGIM India Midcap Opp and Nippon India Large Cap
Torrent Pharmaceuticals No. of active schemes that added the stock afresh: 13 Total no. of active schemes that hold the stock curretly: 77 Sample of active schemes that newly added the stock: Invesco India Growth Opp, Baroda BNP Paribas Business Cycle and Mirae Asset Flexi Cap
10/13
Dabur India No. of active schemes that added the stock afresh: 12 Total no. of active schemes that hold the stock currently: 83 Sample of active schemes that newly added the stock: HDFC Business Cycle, Canara Rob Equity Tax Saver and Kotak Business Cycle
11/13
Bosch No. of active schemes that added the stock afresh: 11 Total no. of active schemes that hold the stock currently: 70 Sample of active schemes that newly added the stock: Kotak Tax Saver, HSBC Flexi Cap and Quant Absolute
12/13
Zomato No. of active schemes that added the stock afresh: 10 Total no. of active schemes that hold the stock currently: 72 Sample of active schemes that newly added the stock: ICICI Pru LT Equity Fund (Tax Saving), SBI Technology Opp and Bandhan Core Equity
13/13
Havells India No. of active schemes that added the stock afresh: 6 Total no. of active schemes that hold the stock currently: 51 Sample of active schemes that newly added the stock: Motilal Oswal Long Term Equity, Tata Multicap and Mirae Asset Flexi Cap Also see: Here are the multibagger microcap stocks held by PMS managers. Do you own any?
