Which Indian Mutual Funds are going to benefit from this Nvidia Rally?

Nvidia Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, and incorporated in Delaware. It is a software and fabless company that designs and supplies graphics processing units (GPUs), application programming interfaces (APIs) for data science and high-performance computing as well as system-on-a-chip units (SoCs) for the mobile computing and automotive market. The company has reported strong quarterly performance for yet another quarter.

Nvidia Q1 performance 

Nvidia in this quarter has recorded quarterly revenue of $26.0 billion, up 18% from Q4 and up 262% from a year ago, The Net Income for this quarter stood at $14.88 Billion up by 21% from Q4 and 628% on a year on year basis.

This strong performance by the company for yet another quarter led to the stock surpassing the mark of $1000, beating market expectations for its first-quarter results. This, in turn, bodes well for the Indian mutual funds that have exposure to the chipmaker.

Indian AMCs with Exposure to Nvidia

As of April 2024, most Indian large Asset Management Companies (AMCs) held significant positions in Nvidia. Leading the list is Motilal Oswal with an exposure of approximately Rs 463 crore, followed by Mirae with around Rs 284 crore, Franklin Mutual Fund at roughly Rs 217 crore, and Kotak Mutual Fund with an exposure of about Rs 188 crore.

Conclusion: NVIDIA’s stock has seen significant gains recently, and several Indian AMCs with exposure to this US stock are poised to benefit from its performance. Leading this trend, Motilal Oswal has an exposure of approximately Rs 463 crore, followed by Mirae with around Rs 284 crore, Franklin Mutual Fund at roughly Rs 217 crore, and Kotak Mutual Fund with about Rs 188 crore. This exposure suggests that these AMCs are likely to see positive returns, reflecting the strength and upward momentum of NVIDIA’s stock.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.