As Nvidia continues its dream run, Indian mutual funds that have invested in the stock are also set to see huge gains.

What Happened: Nvidia in its April quarter recorded a revenue of $26.04 billion, growing 18% from the previous quarter and 262% from the previous year. The company also announced a 10-for-1 stock split and hiked its quarterly dividend by 150%.  The stock has delivered returns of approximately 490% over the past 18 months and approximately 240% over the last 12 months.

According to data from Fisdom Research, the total exposure of Indian AMCs (asset management companies) in Nvidia increased to ₹1,951 crore in April 2024, up 14.83% from the January quarter when they had exposure of ₹1,699 crore. 

Motilal Oswal had the highest exposure with an investment of ₹463 crore followed by  Franklin Templeton (₹284 crore), Mirae (₹217 crore), Kotak (₹188 crore) and Axis Mutual Funds (₹181 crore).

See Also: Small Cap Stock Soars 5% After Winning Orders From Adani Group, L&T 

Among Active Funds, Axis Growth Opportunities Fund had ₹115.8 crore investments in the stock. Edelweiss Technology Fund has invested ₹18.5 crore. Axis Special Situations Fund has invested ₹10.3 crore. 

In Non-Broadbased Passive funds, Motilal Oswal Nasdaq 100 FoF invested ₹299 crore, Kotak Nasdaq 100 FoF invested ₹188 crore and Motilal Oswal S&P 500 Index Fund has ₹164 crore investments. 

In Broad-based mutual funds, Franklin India Feeder – Franklin U.S. Opportunities Fund has invested ₹282.3 crore, Edelweiss US Technology Equity FoF has ₹120.4 crore and PGIM India Global Equity Opportunity Fund has ₹93.2 crore investments. 

Price Action: Nvidia's stock closed 9% higher at $1,037.99 on May 23 in the US markets. 

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