KPIT Tech, Coforge, Tanla Platforms, Oracle, Sonata: What MFs & FPIs bought & sold in Q4

As Q4 results ready to kick off this week with Tata Consultancy Services Ltd (TCS) earnings on April 12, a host of smallcap and midcap IT firms including KPIT Technologies Ltd, Coforge Ltd, Oracle Financial Services Software Ltd and Sonata Software have come out with their shareholding patterns for the March quarter. Some of these stocks have rallied as much as 100 per cent in 2024 so far. A few others have declined up to 17 per cent, data showed.

In the case of Coforge, FPIs have upped their holding in the IT firm by 96 basis points to 35 per cent from 34.04 per cent in the December quarter. Mutual funds cut their exposure in this IT firm by 109 basis points to 41.68 per cent from 42.77 per cent sequentially. The stock is down 9 per cent year-to-date.

MF holding in KPIT Technologies increased to 8.34 per cent in the March quarter from 7.86 per cent in the December quarter. But FPIs cut stake in KPIT Tech to 23.98 per cent from 26.48 per cent sequentially. This stock has delivered flattish return year-to-date.

Axis Securities expects KPIT Tech to report revenue growth of 3.8 per cent QoQ in Q4, primarily due to the ramp-up of large deals. It sees operating margins to expand 23 bps due to lower onsite expenses.

On Coforge, it expects the IT firm to deliver robust revenue growth of 4.1 per cent QoQ, primarily driven by the ramp-up in its large deals. Coforge's operating margins are likely to expand 186 bps on account of strong volume growth, the brokerage said.

Sonata Software saw mutual funds buying an additional 1.01 per cent stake in the IT firm to 17.56 per cent from 16.55 per cent but FPIs trimming stake by 53 basis points to 13.94 per cent from 14.47 per cent QoQ. This stock is up 2.47 per cent year-to-date.

Oracle Financial Services Software Ltd, whose shares have rallied 98 per cent in 2024 so far, saw MFs adding 1.13 percentage points stake to 6.07 per cent while FPIs reducing stake by 76 basis points to 6.13 per cent.

In Tanla Platforms Ltd, both MFs and FPIs cut stake but marginally by 33 basis points and 3 basis points respectively. In Vakrangee, FPI holding fell to 3.07 per cent, down 24 basis points over 3.31 per cent in the December quarter.