Introduction:
Mutual Funds (MFs) are institutional investors that pool resources to invest in diverse financial instruments, aiming to optimise returns while managing risks. They play a crucial role in enhancing market liquidity and stability.
During Q3, mutual funds significantly increased their stakes in prominent companies across high-growth sectors. Below are three companies where mutual funds raised substantial stakes, highlighting their confidence in these companies’ growth potential.
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Home First Finance Company India Ltd:
On January 24, Home First Finance Company India Ltd (BSE: HOMEFIRST) opened at ₹999.00, reached a high of ₹1004.65, and a low of ₹987.20, closing at ₹992.85, down by 0.09%. The company’s market capitalisation is ₹8,903.85 crore.
Mutual funds increased their stake in Home First Finance from 9.65% to 10.68% in Q3, acquiring 4,918,736 shares. The company focuses on affordable housing loans for salaried and self-employed individuals.
Home First Finance Company India Ltd, established in 2010, specialises in affordable housing loans for low- and middle-income families. The company primarily caters to first-time homebuyers with a strong presence across urban and semi-urban areas in India.
One97 Communications Ltd:
On January 24, One97 Communications Ltd (BSE: PAYTM) opened at ₹851.00, reached a high of ₹855.45, and a low of ₹773.90, closing at ₹804.80, down by 5.20%. The company’s market capitalisation is ₹51,308.49 crore.
Mutual funds raised their holding in One97 Communications from 7.86% to 11.2% in Q3, adding 9,221,666 shares. The company operates Paytm, a leading digital payments and financial services platform.
One97 Communications Ltd, founded in 2000, is the parent company of Paytm, India’s leading digital payments platform. The company offers services such as mobile payments, e-commerce, and financial products.
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Nuvama Wealth Management Ltd:
On January 24, Nuvama Wealth Management Ltd (BSE: NUVAMA) opened at ₹5650.45, reached a high of ₹5776.00, and a low of ₹5534.20, closing at ₹5560.00, down by 1.88%. The company’s market capitalisation is ₹19,947.09 crore.
Mutual funds increased their stake in Nuvama Wealth Management from 0.36% to 2.75% in Q3, purchasing 1,030,997 shares. The company provides wealth management and investment advisory services.
Nuvama Wealth Management Ltd is a prominent wealth management firm in India, offering customised investment solutions and advisory services. It caters to individuals, corporations, and institutions focusing on wealth creation and preservation.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
