India mutual funds fuel up to 49% gains in 15 heavily bought stocks
Indian mutual funds aggressively added shares in 15 domestic equities during June 2026, a convergence of institutional buying and price momentum that signals strong manager conviction in select infrastructure, financial and consumer names.
Domestic mutual funds significantly increased their positions in 54 Indian equities during June 2026, adding a net total of more than 1 crore shares to each. Within that broader accumulation, a subset of 15 stocks generated returns exceeding 10% in early June, illustrating a clear overlap between heavy institutional buying and immediate price appreciation.
Kalyan Jewellers India emerged as the standout performer, rallying 49% as fund holdings grew from 14.3 crore to 16.2 crore shares across 116 schemes. The jewelry retailer's mutual fund holdings are now valued at Rs 6,269 crore. Edtech firm PhysicsWallah also posted a notable 34% gain on an addition of 1.4 crore shares, bringing its institutional backing to Rs 2,027 crore across 87 schemes.
Infrastructure and energy transition names saw some of the most aggressive accumulation relative to their existing float. JSW Infrastructure shares jumped 26% as mutual funds nearly quadrupled their position, buying a net 14.9 crore shares to hold 20.0 crore shares in total. Acme Solar Holdings experienced a similar trajectory, climbing 24% as fund managers added 8.2 crore shares to expand the total holding to 11.5 crore shares across 86 schemes.
The financial sector represented a core pillar of the buying activity. Bajaj Finance, the largest holding by value in this group at Rs 60,675 crore across 484 schemes, gained 11% on an addition of 4.6 crore shares. Federal Bank advanced 13%, IDFC First Bank rose 11%, and Ujjivan Small Finance Bank climbed 20%, with all three seeing net additions of over 1.9 crore shares.
This targeted buying contrasted sharply with the broader universe of accumulated stocks where volume did not translate into returns. NHPC, Vodafone Idea, and Yes Bank recorded the highest absolute net additions of 33.64 crore, 28.19 crore, and 22.73 crore shares, respectively. Despite this heavy institutional support, all three equities posted largely flat returns for the month.
The data suggests Indian fund managers are deploying capital with high selectivity, concentrating on specific growth themes rather than broad market exposure. This conviction is evident in the scale of participation in top picks like Eternal, which gained 14% and is held by 587 schemes representing Rs 80,953 crore in assets. Consumer and travel plays, including Indian Hotels Company and Delhivery, also benefited from this focused strategy, rising 12% and 13% respectively on steady accumulation.
