Coforge, AU Small Finance Bank, BHEL among 10 midcap stocks that PMS fund managers bought in May. Do you own any?

Produced by: Harshita
Designed by: Mohsin Shaikh

Indian equity markets have been on a roller-coaster ride over the last two years. Amid this volatility, while Nifty Midcap 50 has risen around 11% so far in 2023, the benchmark Nifty50 has risen around 3%. Analysts and brokerage firms expect the midcap space to continue moving higher as the fundamentals of the domestic market are healthy

Midcaps stocks on a rise

The volatility in the domestic share market provided active fund managers an opportunity to take positions in beaten-down stocks. Here are the top 10 midcap stocks that were bought by a majority of Portfolio Management Services (PMS) managers in May 2023, according to PMSBazaar data as of May 31, 2023

Top midcap stocks bought
by PMS managers in May

- No. of new PMS strategies that added this stock: 11
- Total no. of PMS strategies that held the stock: 26
- Total no. of actively-managed mutual fund schemes that hold the stock: 67

IDFC First Bank

- No. of new PMS strategies that added this stock: 11
- Total no. of PMS strategies that held the stock: 19
- Total no. of actively-managed mutual fund schemes that hold the stock: 134

Coforge 

- No. of new PMS strategies that added this stock: 9
- Total no. of PMS strategies that held the stock: 30
- Total no. of actively-managed mutual fund schemes that hold the stock: 87

AU Small Finance Bank

- No. of new PMS strategies that added this stock: 9
- Total no. of PMS strategies that held the stock: 27
- Total no. of actively-managed mutual fund schemes that hold the stock: 149

Persistent Systems

- No. of new PMS strategies that added this stock: 8
- Total no. of PMS strategies that held the stock: 13
- Total no. of actively-managed mutual fund schemes that hold the stock: 84

Bharat Heavy Electricals

- No. of new PMS strategies that added this stock: 8
- Total no. of PMS strategies that held the stock: 10
- Total no. of actively-managed mutual fund schemes that hold the stock: 82

Aditya Birla Fashion & Retail

- No. of new PMS strategies that added this stock: 7
- Total no. of PMS strategies that held the stock: 32 
- Total no. of actively-managed mutual fund schemes that hold the stock: 172

Cummins India

- No. of new PMS strategies that added this stock: 7 
- Total no. of PMS strategies that held the stock: 19
- Total no. of actively-managed mutual fund schemes that hold the stock: 97

Balkrishna Industries

- No. of new PMS strategies that added this stock: 7 
- Total no. of PMS strategies that held the stock: 15 
- Total no. of actively-managed mutual fund schemes that hold the stock: 129

Mphasis

- No. of new PMS strategies that added this stock: 6 
- Total no. of PMS strategies that held the stock: 31 
- Total no. of actively-managed mutual fund schemes that hold the stock: 100 

Polycab India

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