Mutual funds sold 200-800 bps stake in 10 multibaggers in Q2

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multibagger stocks, mutual funds, multibaggers, mutual fund stocks, irctc, irctc shares, irctc share price

NEW DELHI: Mutual funds (MFs) were seen booking profits in at least 10 multibaggers of 2021, September quarter shareholding pattern suggests.

Data showed money managers sold 200-800 basis points stake sequentially in 10 companies, whose shares have soared up to 370 per cent year-to-date.

Among them was Angel One, erstwhile Angel Broking. Mutual funds owned 9.07 per cent stake in the company as of September 30, down 284 basis points over 11.91 per cent in June quarter. The stock is up 371 per cent year-to-date.

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Happiest Minds Technologies saw MFs paring stake by 331 basis points to 3.26 per cent from 6.57 per cent sequentially. This stock is up 310 per cent year-to-date.

IRCTC, which has zoomed by a similar percentage point, saw MFs paring 250 basis points stake to 4.78 per cent from 7.28 per cent. Poonawalla Fincorp, erstwhile Magma Fincorp, saw 389 basis points cut in MF holding to 3.97 per cent from 7.86 per cent. This stock is up 300 per cent year-to-date.

Nitin Spinners, which has Dolly Khanna as an investor, jumped 220 per cent year-to-date. MFs pared stake in this company by 376 basis points QoQ to 6.77 per cent from 10.53 per cent.

In Praj Industries, MFs cut stake by 789 basis points to 6.84 per cent from 14.73 per cent. Persistent Systems, Power Mech Projects , Tata Chemicals and Vardhman Special Steels were four other stocks where mutual funds pared stake in a range of 207-422 basis points, following a 100-170 per cent surge in these shares.

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