14 new midcap stocks picked up by PMS managers in 2023, despite correction

The year 2022 was tough for midcap stocks. While the Nifty 50-TRI gained 5.7% the Nifty Midcap 150-TRI went up just 3.9% in 2022. Many quality midcap stocks corrected sharply. But in adversity, lies an opportunity. At least for fund manager, who go bottom fishing. Here are the top midcap stocks that were bought afresh by a majority of Portfolio Management Services (PMS) managers in January 2023. Total number of PMS strategies considered for the compilation was 313. Source: Finalyca – PMSBazaar. Data as of January 31, 2023

Cummins India
No. of new PMS strategies that added this stock: 11
No. of PMS strategies that already hold the stock: 33
No. of actively-managed mutual fund schemes that hold the stock: 122

Jubilant Foodworks
No. of new PMS strategies that added this stock: 11
No. of PMS strategies that already hold the stock: 17
No. of actively-managed mutual fund schemes that hold the stock: 113

APL Apollo Tubes
No. of new PMS strategies that added this stock: 10
No. of PMS strategies that already hold the stock: 33
No. of actively-managed mutual fund schemes that hold the stock: 53

Federal Bank
No. of new PMS strategies that added this stock: 9
No. of PMS strategies that already hold the stock: 33
No. of actively-managed mutual fund schemes that hold the stock: 121

Tube Investments of India
No. of new PMS strategies that added this stock: 8
No. of PMS strategies that already hold the stock: 24
No. of actively-managed mutual fund schemes that hold the stock: 55

L&T Technology Services
No. of new PMS strategies that added this stock: 7
No. of PMS strategies that already hold the stock: 20
No. of actively-managed mutual fund schemes that hold the stock: 38

Polycab India
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 33
No. of actively-managed mutual fund schemes that hold the stock: 78

AU Small Finance Bank
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 25
No. of actively-managed mutual fund schemes that hold the stock: 52

IDFC First Bank
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 21
No. of actively-managed mutual fund schemes that hold the stock: 19

Timken India
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 16
No. of actively-managed mutual fund schemes that hold the stock: 60

Phoenix Mills
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 14
No. of actively-managed mutual fund schemes that hold the stock: 90

Oberoi Realty
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 12
No. of actively-managed mutual fund schemes that hold the stock: 65

Colgate-Palmolive (India)
No. of new PMS strategies that added this stock: 6
No. of PMS strategies that already hold the stock: 11
No. of actively-managed mutual fund schemes that hold the stock: 19

Laurus Labs
No. of new PMS strategies that added this stock: 5
No. of PMS strategies that already hold the stock: 30
No. of actively-managed mutual fund schemes that hold the stock: 30