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From Infosys to TCS: List of stocks most owned by mutual funds in 2023
As the market maintains its volatility in the last month of 2023, here are the top stocks of the year which are owned by mutual funds.
TCS and Infosys shares have seen a spike in the last few months, contributing towards Sensex touching its all time high in December 2023. However, both this firms are also among the stocks on Dalal Street most owned by mutual funds.
Tata Consultancy Services (TCS) and ICICI Bank have topped the list of stocks that are most owned by mutual funds. Both these companies have 40 fund houses holding their blue-chip stocks under various schemes.
However, TCS' main rival Infosys is not far behind, securing the second spot on the list. Infosys and Maruti Suzuki tied for the second spot with 39 asset management companies (AMCs) owning their shares, shows dada sourced from Emkay.
The third spot on the list is also tied between HDFC Bank and Reliance Industries Ltd, with 38 AMCs owning their stocks. HDFC was one of the only firms which recorded growth after Sensex fell steeply on December 20.
When it comes to consumption stock, the stock on the top was Tata-owned firm Titan. The second and third place in the FMCG sector for stock most owned by mutual funds were secured by ITC and Hindustan Unilever.
AMCs preferred Sun Pharma as the stock to invest in when it came to the pharmaceutical sector, while the preferred pick among NBFCs is Bajaj Finance. Midcap IT firms such as as Persistent Systems, LTIMindtree, Mphasis and Coforge also showed exceptional performance on the list.
List of stocks most owned by AMCs as of 2023
- TCS, ICICI Bank - 40 AMCs
- Infosys, Maruti Suzuki - 39 AMCs
- RIL, HDFC Bank - 38 AMCs
- SBI, Titan, Axis Bank, M&M, NTPC - 37 AMCs
- HCL Tech, ITC, L&T - 36 AMCs
- Sun Pharma, Tech Mahindra, UltraTech, HUL, Bajaj Finance - 35 AMCs
TCS is one of the constant favourite of AMCs in history, despite the sudden rise and fall of many IT stocks in the last year. TCS draws nearly 70 percent of its entire revenue from EU and US, and remains vulnerable to their falling markets, but has continued to show great returns in the past.
