Quant Mutual Fund: On June 23, Moneycontrol reported that Sebi had conducted a search and seizure operation at Quant Mutual Fund premises due to suspected front-running activities.
Stocks in which this Mutual Fund holds significant stakes are expected to face downward pressure following reports of a search and seizure operation. Quant manages the third-largest small-cap fund in India, boasting assets under management totaling Rs 20,000 crore. It has rapidly expanded, with its total assets under management surging from Rs 50,000 crore to nearly Rs 90,000 crore this calendar year alone, making it the fastest-growing mutual fund in the country.
In May, Quant Mutual Fund captured 43 percent of the net inflows into small-cap funds.
This Mutual Fund held significant stakes exceeding 5 percent in several stocks, including Century Enka (7.87 percent), Stride Pharma Science (5.42 percent), HEG (5.20 percent), Pix Transmission (5.21 percent), Keystone Realtors (5.40 percent), Orchids Pharma (6.83 percent), Arvind (5.76 percent), and HFCL (6.42 percent). Market experts have noted that smaller stocks with low daily traded volumes are likely to experience the most significant impact from recent developments.
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According to sources cited in the Moneycontrol report, the suspected gains from the operation amounted to Rs 20 crores. The search and seizure operation took place at two locations: Mumbai and Hyderabad.
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