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Top mid-cap and small-cap tech stocks that mutual funds added afresh

IT companies have started announcing their results and their earnings forecast is expected to improve with the falling rupee against the USD. Here are the MF hot picks from midcap and smallcap IT sector

April 20, 2022 / 01:28 PM IST
IT stocks staged a commendable recovery since their March 2020 lows and outpaced the broader indices and other sectors. However, over the last three months, these stocks registered a volatile show and their benchmark --Nifty IT index corrected more than 11 percent. Fund managers have found this correction a good entry point to invest in quality IT stocks. Prashant Joshi, Co-founder, Fintrust Advisors LLP says, “The staggering returns from the past year with significant rupee depreciation are making IT attractive. Now with the rupee under pressure owing to the Russia-Ukraine war and the expected hike in US interest rates, the export-oriented industries especially IT is expected to benefit. Rupee depreciation is expected to give this industry some respite from margin pressure. IT companies have started announcing their results and their earnings forecast is expected to improve with this falling rupee”. Here are the top 10 mid and smallcap IT stocks added afresh by mutual funds over the last two months. Data as on March 31, 2022. Source: ACEMF.
IT stocks staged a commendable recovery since their March 2020 lows and outpaced the broader indices and other sectors. However, over the last three months, these stocks registered a volatile show and their benchmark - Nifty IT index - corrected more than 11 percent. Fund managers have found this correction a good entry point to invest in quality IT stocks. Prashant Joshi, Co-founder, Fintrust Advisors LLP says, “The staggering returns from the past year with significant rupee depreciation are making IT attractive. Now, with the rupee under pressure owing to the Russia-Ukraine war and the expected hike in US interest rates, the export-oriented industries, especially IT, is expected to benefit. Rupee depreciation is expected to give this industry some respite from margin pressure. IT companies have started announcing their results and their earnings forecast is expected to improve with this falling rupee.” Here are the top 10 mid and smallcap IT stocks added afresh by mutual funds over the last two months. Data as on March 31, 2022. Source: ACEMF.
Number of schemes that newly added the stock: 22 | Total number of schemes that held the stock: 106. Schemes such as Samco Flexi Cap, HSBC Large Cap Equity, Motilal Oswal Midcap 30, Mirae Asset Midcap and Invesco India Midcap Fund added the stock of Coforge afresh in their portfolio over the last two months.
Number of schemes that newly added Coforge: 22 | Total number of schemes that held the stock: 106. Schemes such as Samco Flexi Cap, HSBC Large Cap Equity, Motilal Oswal Midcap 30, Mirae Asset Midcap and Invesco India Midcap Fund added the stock of Coforge afresh in their portfolio over the last two months.
Number of schemes that newly added the stock: 69 | Total number of schemes that held the stock: 16. Quant Flexi Cap, JM Value, Mahindra Manulife Focused Equity Yojana, ICICI Pru MNC and ICICI Pru Technology were few schemes newly added the stock of Oracle Financial Services Software in their portfolio.
Number of schemes that newly added Oracle: 69 | Total number of schemes that held the stock: 16. Quant Flexi Cap, JM Value, Mahindra Manulife Focused Equity Yojana, ICICI Pru MNC and ICICI Pru Technology were few schemes newly added the stock of Oracle Financial Services Software in their portfolio.
Number of schemes that newly added Persistent: 9 | Total number of schemes that held the stock: 113. Schemes that bought the stock of Persistent Systems over the last two months include Invesco India Flexi Cap, Baroda BNP Paribas ELSS, Mahindra Manulife Mid Cap Unnati Yojana and ICICI Pru Multicap Fund.
Number of schemes that newly added Persistent: 9 | Total number of schemes that held the stock: 113. Schemes that bought the stock of Persistent Systems over the last two months include Invesco India Flexi Cap, Baroda BNP Paribas ELSS, Mahindra Manulife Mid Cap Unnati Yojana and ICICI Pru Multicap Fund.
Number of schemes that newly added the stock: 6 | Total number of schemes that held the stock: 49. Schemes including ITI Small Cap, ITI Multi-Cap and Sundaram Dividend Yield Fund newly added the stock of Cyient during the period.
Number of schemes that newly added Cyient: 6 | Total number of schemes that held the stock: 49. Schemes including ITI Small Cap, ITI Multi-Cap and Sundaram Dividend Yield Fund newly added the stock of Cyient during the period.
Number of schemes that newly added the stock: 6 | Total number of schemes that held the stock: 30. Schemes like PGIM India Small Cap, ITI Small Cap and ITI Long Term Equity Fund added the stock of KPIT afresh in their portfolio.
Number of schemes that newly added KPIT Tech: 6 | Total number of schemes that held the stock: 30. Schemes like PGIM India Small Cap, ITI Small Cap and ITI Long Term Equity Fund added the stock of KPIT afresh in their portfolio.
Number of schemes that newly added the stock: 5 | Total number of schemes that held the stock: 67. Schemes such as Navi ELSS Tax Saver, ICICI Pru Dividend Yield Equity and DSP Dynamic Asset Allocation Fund bought the share of Birlasoft newly over the last two months.
Number of schemes that newly added Birlasoft: 5 | Total number of schemes that held the stock: 67. Schemes such as Navi ELSS Tax Saver, ICICI Pru Dividend Yield Equity and DSP Dynamic Asset Allocation Fund bought the share of Birlasoft newly over the last two months.
Number of schemes that newly added the stock: 4 | Total number of schemes that held the stock: 12. Shares of Intellect Design Arena were added newly by the schemes such as BOI AXA Flexi Cap and BOI AXA Small Cap Fund.
Number of schemes that newly added Intellect: 4 | Total number of schemes that held the stock: 12. Shares of Intellect Design Arena were added newly by the schemes such as BOI AXA Flexi Cap and BOI AXA Small Cap Fund.
Number of schemes that newly added the stock: 4 | Total number of schemes that held the stock: 73. Samco Flexi Cap, ITI Value, ITI Multi-Cap and Shriram Flexi Cap Fund were few schemes made fresh positions in the stock of L&T Technology Services.
Number of schemes that newly added L&T Tech Services: 4 | Total number of schemes that held the stock: 73. Samco Flexi Cap, ITI Value, ITI Multi-Cap and Shriram Flexi Cap Fund were few schemes made fresh positions in the stock of L&T Technology Services.
Number of schemes that newly added the stock: 3 | Total number of schemes that held the stock: 21. HDFC Multi Cap and ICICI Pru Dividend Yield Equity Fund newly included the stock of Sonata Software in the last two months.
Number of schemes that newly added Sonata Software: 3 | Total number of schemes that held the stock: 21. HDFC Multi Cap and ICICI Pru Dividend Yield Equity Fund newly included the stock of Sonata Software in the last two months.
Number of schemes that newly added the stock: 2 | Total number of schemes that held the stock: 7. Schemes such as BOI AXA Mid & Small Cap Equity & Debt and BOI AXA Flexi Cap Fund accumulated the share of Tanla Platforms notably over the last months.
Number of schemes that newly added Tanla: 2 | Total number of schemes that held the stock: 7. Schemes such as BOI AXA Mid & Small Cap Equity & Debt and BOI AXA Flexi Cap Fund accumulated the share of Tanla Platforms notably over the last months.
Dhuraivel Gunasekaran
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