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    6 stocks added by over 10 MF schemes in August rose over 100% in FY24

    By
    , ETMarkets.com|
    ​Clocking Alpha
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    ​Clocking Alpha

    In August 2023, mutual funds (MFs) continued to display a positive outlook on the Indian equity market, exhibiting a net buying activity of approximately Rs 14,488 crore. This marks the highest monthly net buying activity in FY24 thus far. Following a period in April when MFs were net sellers, they have consistently increased their net buying amount in each subsequent month.

    In the recent analysis conducted by ETMarkets, it was noted that 24 stocks were added to the portfolios of at least 10 MFs in August, compared to July. Of these 24 stocks, 22 have delivered returns in excess of double digits in FY24 up to this point. In this context, we have identified 6 top-performing stocks that have also become multibaggers during the same time. (Data Source: ACE MF | ACE Equity)

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    BSE | FY24 Price return so far: 218%
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    BSE | FY24 Price return so far: 218%

    > In August '23, the count of MF schemes holding stocks increased to 30, compared to 18 in July.
    > The market value of the stock in equity MFs as of August amounted to Rs 433 crore.

    ETMarkets.com
    Suzlon Energy | FY24 Price return so far: 204%
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    Suzlon Energy | FY24 Price return so far: 204%

    > In August '23, the count of MF schemes holding stocks increased to 64, compared to 28 in July.
    >The market value of the stock in equity MFs as of August amounted to Rs 1,567 crore.

    ETMarkets.com
    REC | FY24 Price return so far: 134%
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    REC | FY24 Price return so far: 134%

    > In August '23, the count of MF schemes holding stocks increased to 121, compared to 105 in July.>The market value of the stock in equity MFs as of August amounted to Rs 4,773 crore.

    ETMarkets.com
    Inox Wind | FY24 Price return so far: 124%
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    Inox Wind | FY24 Price return so far: 124%

    > In August '23, the count of MF schemes holding stocks increased to 16, compared to 1 in July.> The market value of the stock in equity MFs as of August amounted to Rs 380 crore.

    ETMarkets.com
    Adani Power | FY24 Price return so far: 108%
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    Adani Power | FY24 Price return so far: 108%

    > In August '23, the count of MF schemes holding stocks increased to 33, compared to 23 in July.
    > The market value of the stock in equity MFs as of August amounted to Rs 194 crore.

    Reuters
    Power Finance Corporation | FY24 Price return so far: 102%
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    Power Finance Corporation | FY24 Price return so far: 102%

    > In August '23, the count of MF schemes holding stocks increased to 140, compared to 124 in July.
    > The market value of the stock in equity MFs as of August amounted to Rs 7,984 crore.

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