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The Q3 FY23 earnings season has almost ended with only a few companies left that are yet to declare their results for the quarter that ended December 2022. As mutual funds’ action is also one of the key data investors look for, here are the top 3 companies where mutual funds have had the highest buying interest in the last six months ended December 2022.
Apollo Hospitals Enterprises Limited
Apollo Hospitals Enterprises Ltd. (NS:) is a well-known large-cap hospital chain with a market capitalization of INR 66,761 crores and currently trades at a P/E ratio of 63.24. The company posted a 17.39% YoY growth in Q3 FY23 revenue to INR 4,298.94 crores, however, net income declined 32.8% to only INR 153.46 crores, despite which mutual funds kept on increasing their stake.
It has remained the favorite Nifty 50 stock for mutual funds in the last six months as their aggressive buying ramped up their stake from 7.64% in the June 2022 quarter to 10.2% in the December 2022 quarter.
Maruti Suzuki India Limited
The next up on the list is the largest passenger vehicle manufacturer in India – Maruti Suzuki India Ltd. (NS:), having a market capitalization of INR 2,65,984 crores and trades at a P/E ratio of 68.56. The company’s revenue jumped 26.88% YoY to INR 29,954.4 crores in Q3 FY23, but profits surged by a massive 129.55% to INR 2,391.50 crores
Since December 2021, mutual funds have consistently increased their stake in the company and in the last six months, they went from 9.37% to 11.57%, making it the second most aggressive purchase in the Nifty 50 list. However, on the other hand, FIIs have been consistently decreasing their stake for 4 straight quarters.
Oil and Natural Gas Corporation Limited
Oil And Natural Gas Corporation Ltd (NS:) is the largest oil and company in India, having a market capitalization of INR 1,96,126 crores and trades at a P/E ratio of a mere 4.31, making it the second cheapest profitable Nifty 50 company, after Tata Steel (NS:). The company reported a 15.8% YoY revenue jump to INR 1,72,024.53 in Q3 FY23 and a 5.1% YoY increase in net income to INR 11,488.99 crores.
It also remained on the radar of mutual funds, as they hiked their interest from 7.13% in the June 2022 quarter to 8.47% in the December 2022 quarter. On the contrary, FIIs’ interest has come down from 9.97% to 8.43% in the same period.
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