Problem of Depth | 95% of active MFs invested in 382 stocks, but 17 suffer losses in FY23

About 95 percent of 427 active mutual funds have invested in just 382 stocks.

Vodafone Idea leads with a massive Rs 29,301-crore loss in FY23, held by 23 mutual funds. So far this year, the stock has rallied nearly 52 percent, while it jumped nearly 100 percent since April.

Hindustan Petroleum Corp reported a Rs 9,471-crore loss in FY23, with 78 mutual funds holding this stock. Year to date, the stock has gained nearly 11 percent.

One97 Communications, which incurred a loss of Rs 1,764 crore in FY23, is held by 52 mutual funds. The stock surged in eight out of nine months this year, posting an 82% gain since the beginning of the year.

Delhivery had a loss of Rs 1,021 crore in FY23 and 44 MFs hold this stock. It fell nearly 6 percent in September, while in 2023 so far it gained around 30 percent.

Zomato, which recorded a loss of Rs 970 crore in FY23, is held by around 150 mutual funds. This stock has outperformed new-edge stocks, surging over 100% since April.

GMR Infra reported a loss of Rs 925 crore in FY23, with 20 mutual funds holding this stock. The stock is up 34% year-to-date but has saw a huge volatility in the last two months. It dropped 4% in September and is currently down nearly 5% in October.

PB Fintech made a loss of Rs 488 crore with 81 MFs holding this stock. The stock gained 64 percent so far in 2023. In September it is down 1 percent while so far in October it fell 5 percent.

RHI Magnesita India posted a loss of Rs 465 crore, with 54 mutual funds holding this stock. The stock was highly volatile this year, initially down 15%. It rebounded with an 11% gain in August and 4% in September but is currently down 5% in October.

Despite reporting a loss of Rs 336 crore in FY23, PVR Inox stocks are held by 69 mutual funds. The stock had a quiet year with a 1.5% YTD gain. It had significant gains of almost 25% in July and August but dipped by 2% in September.

Interglobe Aviation, held by 144 mutual funds, reported a Rs 305 crore loss in FY23. YTD, it’s up 26%, but it saw a 9% drop in July, August, and September.