MFs' Favourites: These 7 microcap stocks rallied 100-600% in FY24 so far

The Nifty Microcap 250 index has surged over 100% in FY24, while during the same period, the Nifty50 index has gained 27%. It’s noteworthy to know that 96 out of the 250 stocks in the microcap index have become multibaggers in FY24, and in fact, 192 stocks have outperformed the Nifty Microcap index during this time frame.

As the index presents an intriguing opportunity for stock selection, ET Markets focuses on stocks held by over 25 Mutual Fund schemes as of January ’24. Analysis reveals that most of these stocks have delivered promising returns in FY24. We spotlight seven stocks that have gained over 100%, with a significant presence in MF portfolios, instilling investor confidence as MFs typically conduct thorough research before investing in stocks (Data Source: ACE Equity, ACE MF)

As of January ’24, GE T&D India is held by 27 mutual fund schemes, with a total market value of Rs 2,535 crore. In FY24 to date, the stock has surged 635% to reach Rs 872 from its share price of Rs 119 on March 31, 2023.

As of January ’24, Titagarh Railsystems is held by 26 mutual fund schemes, with a total market value of Rs 1,537 crore. In FY24 to date, the stock has surged 274% to reach Rs 982 from its share price of Rs 262 on March 31, 2023.

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As of January ’24, Electronics Mart India is held by 42 mutual fund schemes, with a total market value of Rs 1,346 crore. In FY24 to date, the stock has surged 200% to reach Rs 199 from its share price of Rs 66 on March 31, 2023.

As of January ’24, The Jammu & Kashmir Bank is held by 38 mutual fund schemes, with a total market value of Rs 745 crore. In FY24 to date, the stock has surged 186% to reach Rs 141 from its share price of Rs 49 on March 31, 2023.

As of January ’24, RateGain Travel Technologies is held by 25 mutual fund schemes, with a total market value of Rs 1,385 crore. In FY24 to date, the stock has surged 139% to reach Rs 821 from its share price of Rs 343 on March 31, 2023.

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As of January ’24, Kirloskar Oil Engines is held by 37 mutual fund schemes, with a total market value of Rs 2,075 crore. In FY24 to date, the stock has surged 138% to reach Rs 936 from its share price of Rs 394 on March 31, 2023.

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As of January ’24, Mrs. Bectors Food Specialities is held by 31 mutual fund schemes, with a total market value of Rs 1,246 crore. In FY24 to date, the stock has surged 115% to reach Rs 1152 from its share price of Rs 535 on March 31, 2023.