104 firms see MF stake hikes despite market weakness

104 companies have seen mutual funds consistently increase their stakes over the last four quarters, demonstrating sustained confidence despite challenging market conditions. Notable companies in this category include InterGlobe Aviation, PG Electroplast, Data Patterns, SBI Cards, and Niva Bupa Health Insurance. The consistent buying by MFs at a time when benchmarks are trading on a weak note shows their confidence in these companies' long-term prospects.

Several prominent mutual funds have established significant stakes in these companies. Motilal Oswal NIFTY 500 Index Fund and ICICI Prudential Mutual Fund collectively own 8.86% stake in one company, while Nippon Life India Trustee Franklin India Flexu Cap Fund and Axis Mutual Fund Trustee are major MFs holding stakes in another company. DSP Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, and SBI Mutual Fund are among the top fund houses that own stakes in various companies.

The consistent stake increases by mutual funds come at a time when foreign institutional investors have been selling shares in the Indian equity markets, declining rupee, and uncertain geopolitical atmosphere. This contrasting behavior by domestic institutional investors demonstrates their selective approach to investing, focusing on companies with strong fundamentals despite broader market headwinds.

Other companies that saw mutual funds raise their stakes include Triveni Turbine, Eternal, JSW Cement, L&T Technology Services, Tube Investment of India, Adani Energy, Lauris Labs, Swiggy, and Ather Energy. These additions to the 104-company list further highlight the selective nature of MF investments during the current market environment.