Top microcap multibagger stocks added by mutual funds, amidst volatility

The Indian equity market has been on a downward journey over the last three weeks driven by domestic and global factors.
Foreign institutional investors leaving in droves for the Shanghai and Hong Kong boards after the Chinese government announced stimulus measures, rising valuations of domestic mid- and small-cap stocks and escalating tensions in the Middle East that could disrupt oil supplies were but a few reasons.
Market volatility gives fund managers the chance to find undervalued, high-quality stocks. Here are the top microcap stocks that were newly picked by active mutual fund managers in September. Stocks with a market capitalisation below Rs 4,000 crore are considered as microcaps. Market capitalisation mentioned in the below slides were BSE’s full market capitalisation. Portfolio data was as of September 30, 2024. Source: ACEMF.

Kross
(Newly listed)
No. of active schemes that newly added the stock in September: 16
Total no. of active schemes holding the stock: 16
M-cap: Rs 1,359 crore.

Shivalik Bimetal Controls
No. of active schemes that newly added the stock in September: 14
Total no. of active schemes holding the stock: 25
M-cap: Rs 3,717 crore.

Also see: Chasing Chinese dragons: What's in store for Indian mutual fund investors?

SJS Enterprises
No. of active schemes that newly added the stock in September: 7
Total no. of active schemes holding the stock: 30
M-cap: Rs 3,109 crore

Baazar Style Retail
No. of active schemes that newly added the stock in September: 7
Total no. of active schemes holding the stock: 19
M-cap: Rs 2,852 crore

Western Carriers (India)
(Newly listed)
No. of active schemes that newly added the stock in September: 6
Total no. of active schemes holding the stock: 6
M-cap: Rs 1,582 crore.

Also see: The BSE Power Index rose 86% in a year. Here are the top stocks that MFs picked

Rane Holdings
No. of active schemes that newly added the stock in September: 5
Total no. of active schemes holding the stock: 6
M-cap: Rs 2,890 crore.

Suraj Estate Developers
No. of active schemes that newly added the stock in September: 4
Total no. of active schemes holding the stock: 5
M-cap: Rs 3,456 crore.

RPG Life Sciences
No. of active schemes that newly added the stock in September: 3
Total no. of active schemes holding the stock: 7
M-cap: Rs 3,893 crore.

Also see: Winning the mid-cap race: How fund managers made their moves

Ecos (India) Mobility & Hospitality
No. of active schemes that newly added the stock in September: 3
Total no. of active schemes holding the stock: 16
M-cap: Rs 2,722 crore.

KRN Heat Exchanger And Refrigeration
(Newly listed)
No. of active schemes that newly added the stock in September: 3
Total no. of active schemes holding the stock: 3
M-cap: Rs 3,021 crore.

Gufic Biosciences
No. of active schemes that newly added the stock in September: 2
Total no. of active schemes holding the stock: 7
M-CAP (BSE – Full): Rs 3,865 crore.

Also see: Midcaps that quant-based mutual fund algos select

DCB Bank
No. of active schemes that newly added the stock in September: 2
Total no. of active schemes holding the stock: 16
M-CAP (BSE – Full): Rs 3,844 crore.

Gujarat Industries Power Company
No. of active schemes that newly added the stock in September: 2
Total no. of active schemes holding the stock: 5
M-CAP (BSE – Full): Rs 3,493 crore.

Dredging Corporation Of India
No. of active schemes that newly added the stock in September: 2
Total no. of active schemes holding the stock: 3
M-CAP (BSE – Full): Rs 2,734 crore.

Krsnaa Diagnostics
No. of active schemes that newly added the stock in September: 2
Total no. of active schemes holding the stock: 6
M-CAP (BSE – Full): Rs 2,726 crore.

Also see: These small-cap stocks that MFs love generate significant revenue from exports