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Indian equity markets have been on a roller-coaster ride over the last two years. The volatility in the market provided active fund managers an opportunity to take positions in beaten-down stocks. Here are the top midcap stocks that were bought afresh by a majority of Portfolio Management Services (PMS) managers in May 2023. Total number of PMS strategies considered for the compilation was 321. Source: Finalyca – PMSBazaar. Data as of May 31, 2023

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AU Small Finance Bank
No. of new PMS strategies that added this stock: 10
Total no. of PMS strategies that held the stock: 30
Total no. of actively-managed mutual fund schemes that hold the stock: 49

3/13

Polycab India
No. of new PMS strategies that added this stock: 8
Total no. of PMS strategies that held the stock: 31
Total no. of actively-managed mutual fund schemes that hold the stock: 76

4/13

Syngene International
No. of new PMS strategies that added this stock: 8
Total no. of PMS strategies that held the stock: 20
Total no. of actively-managed mutual fund schemes that hold the stock: 63

5/13

Bharat Heavy Electricals
No. of new PMS strategies that added this stock: 8
Total no. of PMS strategies that held the stock: 12
Total no. of actively-managed mutual fund schemes that hold the stock: 39

6/13

Persistent Systems
No. of new PMS strategies that added this stock: 7
Total no. of PMS strategies that held the stock: 25
Total no. of actively-managed mutual fund schemes that hold the stock: 114

7/13

IDFC First Bank
No. of new PMS strategies that added this stock: 7
Total no. of PMS strategies that held the stock: 22
Total no. of actively-managed mutual fund schemes that hold the stock: 25

8/13

Mphasis
No. of new PMS strategies that added this stock: 7
Total no. of PMS strategies that held the stock: 15
Total no. of actively-managed mutual fund schemes that hold the stock: 87

9/13

Aditya Birla Fashion & Retail
No. of new PMS strategies that added this stock: 7
Total no. of PMS strategies that held the stock: 9
Total no. of actively-managed mutual fund schemes that hold the stock: 49

10/13

Godrej Properties
No. of new PMS strategies that added this stock: 7
Total no. of PMS strategies that held the stock: 8
Total no. of actively-managed mutual fund schemes that hold the stock: 22

11/13

Federal Bank
No. of new PMS strategies that added this stock: 6
Total no. of PMS strategies that held the stock: 31
Total no. of actively-managed mutual fund schemes that hold the stock: 126

12/13

Astral
No. of new PMS strategies that added this stock: 6
Total no. of PMS strategies that held the stock: 22
Total no. of actively-managed mutual fund schemes that hold the stock: 66

13/13

Schaeffler India
No. of new PMS strategies that added this stock: 6
Total no. of PMS strategies that held the stock: 16
Total no. of actively-managed mutual fund schemes that hold the stock: 109

12 fresh midcap stocks that PMS fund managers picked in May. Do you own any?

Volatility in the market provided PMS managers an opportunity to take fresh position in the beaten down midcap stocks