Retail investors bought FSN E-Commerce Ventures,
, and One 97 Communications worth Rs 10,261 crore in the quarter ended December, data by prime database showed.
Among these 3 stocks, the maximum bet in value terms was in Nykaa-brand owner FSN E-Commerce, as retail investors net bought shares worth Rs 5,416 crore.
Retail holding in the e-retailer has gone up more than 8 times sequentially to 10.2 crore shares in the December quarter.
The second big bet in this space was Easy Trip Planners, where in retail investors net bought shares worth Rs 3,749 crore. Their total holding in the travel solutions provider jumped nearly 9 times sequentially to 17.4 crore shares.
In
parent, retail investors net infused Rs 1,096 crore in the third quarter. Their total holding in the fintech major increased 45% quarter-on-quarter to 6 crore shares.
Not only retail investors, but even mutual funds have been increasing their purchases of these battered stocks. Mutual funds have increased their ownership in and FSN E-Commerce for three straight quarters. If one looks at the performance of the stocks, FSN E-Commerce and One97 Communications were under pressure in the last quarter as some of the existing institutional stakeholders offloaded shares following the expiry of the 1-year lock-in period.
While shares of One97 Communications and FSN E-Commerce net lost 17% and 27%, respectively in the December quarter, those of Easy Trip Planners net gained 12%.
Other big bets
Besides the new-age tech companies, the other 7 stocks that were among the top 10 purchases by retail investors in the third quarter include
, , LTIMindtree, , Samvardhana Motherson International, , and .
The highest amount that retail investors bet on a single stock in the quarter was Bajaj Finserv at Rs 6,367 crore. In LTIMindtree, they net bought stocks worth Rs 4,424 crore.
Stock Talk
While the stocks of new-age tech cos are yet to come out of the woods, analysts are turning bullish in some of them in the backdrop of an improvement in earnings and their ability to move towards positive profitability.
Brokerage Prabhudas Lilladher is positive on FSN E-Commerce and expects the stock to give double-digit returns in the near term.
In the non-bank finance space, Bajaj Finance and Bajaj Finserv remain among the top bets for analysts. Over the last one month, Bajaj Finserv has seen the maximum upgrades in rating, followed by Bajaj Finance among the Nifty50 stocks.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
