
Mutual funds, retail investors raise stake in this mid-cap multibagger stock in Q1. Do you own it?
As of the end of June 2025, 33 mutual funds collectively held an 11.4% stake in CAMS, equivalent to 56 lakh shares. This marks a notable increase from the 10.69% stake held at the end of the March quarter, according to shareholding data from Trendlyne.
Meanwhile, Life Insurance Corporation of India (LIC) also held a 2.85% stake in the company. Key mutual funds currently invested in the stock include Canara Robeco Small Cap Fund, UTI Mid Cap Fund, Axis Small Cap Fund, and ICICI Prudential Innovation Fund.
Retail investors, similar to mutual funds, also increased their stake in the company to 30.7%, up from 28.3% in the March quarter. Foreign investors, on the other hand, trimmed their stake to 52% from 55% in Q1FY25.
CAMS holds a 68% market share among registrars and transfer agents in the mutual fund industry, based on mutual fund average assets under management (AAUM). It services 26 out of 50 fund houses, including 10 of the top 15 mutual funds. In FY25, CAMS managed about 132 new fund offers, mobilizing a cumulative amount of ₹ 73,400 crore.
The growth in mutual fund AUM has gained momentum, supported by consistent SIP inflows and mark-to-market (MTM) gains. Domestic brokerage firm Motilal Oswal expects this trend to continue, driven by the increasing adoption of mutual funds as a preferred savings product. Direct investing through discount brokers has also grown in popularity, and with mutual fund penetration still at just 4%, the brokerage expects this growth trajectory to be sustained.
CAMS Pay recorded significant growth in UPI-based mandate registrations, rising 25% quarter-on-quarter in Q4FY25. As UPI AutoPay becomes the preferred method for SIPs and recurring purchases, CAMS is well-positioned as a key infrastructure partner for AMCs and distributors.
With strong backend integration, CAMS Pay is emerging as a critical component of the recurring digital payments infrastructure for the financial services sector.
Despite several tailwinds for the company, the brokerage has largely maintained its earnings estimates for FY26 and FY27. It believes that healthy AUM growth and increasing traction in non-mutual fund segments will offset the decline in yields, as indicated by the management.
The brokerage expects CAMS' revenue and PAT to grow at a CAGR of 11% and 12%, respectively, over FY25–FY27E. It has retained a BUY rating on the stock with a one-year target price of ₹ 5,000, based on a P/E multiple of 42x on FY27E earnings.
The company's shares made a strong comeback in March 2025 after witnessing severe selling pressure in the preceding two months. From the February low of ₹ 3,126, the stock has gained 64%, ending the last four months in the green.
Over the past three years, the shares have more than doubled. In December, the stock crossed the ₹ 5,000 mark for the first time, hitting a fresh all-time high of ₹ 5,367 apiece.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Mint
41 minutes ago
- Mint
‘Deep as ocean,' PM Modi calls Maldives India's ‘most trusted' friend, announces ₹4,850 cr line of credit
India and the Maldives on Friday exchanged eight key agreements covering a wide range of sectors, including Line of Credit, debt repayment, fisheries, digital transformation, and Unified Payments Interface (UPI), in the presence of Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu. Modi's visit signals a significant improvement in India-Maldives relations after a period of tension. He also revealed that the two nations are moving forward with negotiations for a bilateral investment treaty and have already begun talks on a free trade agreement. 1. Prime Minister Narendra Modi emphasised that New Delhi is proud to be the "most trusted" friend of the Indian Ocean archipelago. 'For us, it is always friendship first,' Modi said in his media statement, adding the 'roots of our relations are older than history, and as deep as the ocean.' The Maldives holds an important place in India's "Neighbourhood First" policy and MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions) vision, the prime minister said, as reported by PTI. 2. Prime Minister Narendra Modi on Friday announced that India is proud to be the Maldives' most trusted friend, following the announcement of a ₹ 4,850 crore line of credit to support the island nation. The two leaders witnessed the exchange of six MOUs in the fields of fisheries and aquaculture, meteorology, digital public infrastructure, UPI, Indian pharmacopoeia and concessional Line of Credit. 3. The new Line of Credit offers Rupees 4850 crores [ approx USD 550 million] in support of infrastructure development and other activities in Maldives. An Amendatory Agreement for the existing LoCs was also exchanged. It reduces Maldives's annual debt repayment obligations by 40% [from USD 51 million to 29 million]. Both sides also exchanged Terms of Reference of the proposed Free Trade Agreement. 4. The two leaders also virtually inaugurated a roads and drainage system project in Addu city and six High Impact Community Development Projects in other cities. Prime Minister handed over 3,300 social housing units and 72 vehicles for Maldives National Defence Force and the Immigration authorities. 5. Prime Minister also handed over two units of Aarogya Maitri Health Cube [BHISHM] sets to the Government of Maldives. With state-of-the-art medical equipment as part of the cube, it can provide medical aid to 200 casualties with in-built support to sustain a crew of six medical personnel for up to 72 hours. The recent improvement in India-Maldives relations is particularly notable given the initial strain under Maldivian President Mohamed Muizzu, who took office in November 2023 after campaigning on an "India Out" platform and is seen as having close ties to China. Tensions escalated quickly after Muizzu's inauguration, when he called for the withdrawal of Indian military personnel from the Maldives. In response, India replaced its military presence with civilian personnel to ease diplomatic friction. The Maldives remains one of India's key maritime partners in the Indian Ocean Region, and bilateral ties in defence and security had strengthened significantly under previous Maldivian administrations. (With inputs from agencies)

The Hindu
2 hours ago
- The Hindu
Fertile fields or solar factory: a verdant land facing an industrial leap
Karedu in Ulavapadu mandal of SPSR Nellore district is a picturesque coastal village dotted with temples, ponds and lush greenery. Lying close to Manneru Vaagu and Buckingham Canal, it's been an tourist hotspot and houses the renowned Bommidala Guest House. Despite having tap connections supplying drinking water, most residents here continue to rely on wells and borewells throughout the year as the groundwater, available from just 15 feet below the surface, remains potable. For generations, residents of the village have reliably counted on the fertile soil, harvesting three crops a year. Apart from cultivating paddy, groundnut and cotton, they also grow vegetables and fruits, predominantly mango, sapota, coconut and banana. Most of the vegetables grown here are supplied to the neighbouring cities whereas some varieties of mango and sapota are exported. Those who don't own land either work as labourers on agricultural fields or shrimp farms. Today, however, the hardworking residents of Karedu are a worried lot. It's root: a government announcement of plans to establish an integrated solar photovoltaic (SPV) module manufacturing plant of Indosol Solar Private Ltd. (ISPL), a subsidiary of Kadapa-based Shirdi Sai Electricals Ltd. (SSEL), at Karedu. They fear that the fertile tracts of their village would be acquired to establish the manufacturing facility, robbing them of a lifestyle they long to preserve. Story so far During the tenure of the previous YSRCP government, ISPL had been given land at Chevuru village in Gudluru mandal near Ramayapatnam port, where it built a plant on 114.5 acres. After the Coalition government came to power, however, the land parcels in the same village were offered to Bharat Petroleum Corporation Ltd. for its greenfield refinery project worth ₹95,000 crore. As per G.O. no. 43, dated March 25, the government has instead allotted 8,348 acres to ISPL at Karedu for its ₹69,000-crore 30 gigawatt (GW) SPV module manufacturing plant, which, it is said, would generate 13,050 jobs. Other than offering financial incentives, the government has also allocated water supply from Karedu, Cheruru and Chennapalayam ponds. Subsequently, Nellore district administration issued a preliminary notification for land acquisition in Karedu through A.P. Industrial Infrastructure Corporation Ltd. (APIIC). The district officials recently organised a grama sabha, but, according to sources, a majority of the residents refused to give up their land, with only 10% agreeing to the proposal. 'The officials are currently planning to acquire 4,000 acres while the company is looking for 20,000 acres,' says M. Srinivasulu, a resident. The elderly farmer alleged that the company gave jobs to a few people at its existing plant near Ramayapatnam but removed them within a couple of months. 'Though we are not educated, we earn a living from agriculture. If they take away our land, we will struggle to live,' he said. P. Durga Rao, a fisherman-activist from Muthukuru village, said there are around 800 families belonging to fisherfolk communities in and around Karedu. 'Most are illiterates but earn a minimum of ₹1,000 a day by fishing. We can't trust a private company to offer a salary package matching our current income,' he adds. 'The fisherfolk of Middirevu and Gummaladibba villages in Chilakuru mandal of combined Nellore district, who had been given jobs at Krishnapatnam Port, couldn't be skilled and couldn't understand the deductions in their salaries. They left their jobs at the port within a year. Karedu fisherfolk may face a similar situation at the new plant of ISPL,' he adds. The farmers and fisherfolk have been staging a number of protests in the village. The leaders from various organisations and political parties, including former Chief Minister and YSRCP president Y.S. Jagan Mohan Reddy, have visited the village and promised their support to the protests. Opposing the land acquisition bid, Yanadi Welfare Association State president K.C. Penchalayya said that the government should give up the idea of offering land to the company, threatening to escalate the protest. The district administration, however, hope to resolve the problems. District Collector O. Anand said the farmers can submit their objections to him or to the Special Deputy Collector. 'We will conduct grama sabha and resolve all their issues. There are about 12,000 acres in the village, but we plan to acquire less than 5,000 acres. However, we are not going to touch the three-crop land parcels close to the Buckingham Canal and the sea,' he says. He said they are trying to minimise the acquisition of fertile land parcels. 'Out of the 19 habitations in Karedu village with a combined population of 14,000, we are planning to displace only three habitations – Upparapalem, Pollukatta Yanadisangam and Ramakrishnapuram, which has 350 families with around 1,500 population. Based on the Land Acquisition Act, compensation will be provided to the land owners at 2.5 times the market rate. This apart, the government will give the evicted a house on 5 cents of land in a new colony and ₹6.5 lakh as a part of the Rehabilitation and Resettlement package. 'We will also take their feedback and consider their preferences,' says the Collector. 'We may give a compensation of ₹12.5 lakh per acre for wet and dry land and ₹17.5 lakh per acre of orchard. We may negotiate further in the discussions with the farmers. The proposed plant is likely to benefit 33,000 people, by offering direct jobs to 13,050 and indirect employment to the rest. We are also initiating skill development programmes for the local people,' he adds. Study on social impact A fact-finding team of Human Rights Forum (HRF) A.P. State Committee, Rashtra Chenatha Jana Samakhya (RCJS) and Matsyakara Sangam recently visited the village and prepared a report on the overall impact of the proposed project. They also pointed out the government's decision to waive off the Social Impact Assessment (SIA) requirements for this project. HRF A.P. State general secretary Y. Rajesh questioned the government for exempting the conduct of the SIA before land acquisition. 'Does ISPL has the technical capabilities to manufacture everything from quartz-to-modules. How can the government help a private company that has no track record in taking up such a crucial and complex project,' he asks. 'In India, most solar companies import cells and assemble them into modules. This vertically integrated SPV plant is the first of its kind. ISPL initially had plans to reach 10 GW of module manufacturing in three phases. To produce 10 GW of modules, about 30,000 tonnes of polysilicon is required and the processing of silicon is a highly polluting activity,' the HRF member points out. Asked about the company's current capacity utilisation, ISPL CEO Sharat Chandra said they are manufacturing 0.5 GW solar modules at the plant built on the 114.5 acres in Chevuru village near Ramayapatnam port. 'We are going to achieve one GW of ingot-to-module manufacturing capacity by the end of this fiscal year.' Speaking about the employment, he said: 'Currently, about 200 people work at the plant. They were offered skill development training. Once we enhance the manufacturing capacity, more people will be offered jobs. To move forward, we don't have the land. Out of the total requirement of 8,348 acres, about 4,800 acres should have been provided in the first phase.' On the need for such vast tracts of land, Sharat said: 'An integrated SPV plant, which manufactures the complete solar supply chain, including ingot/wafer, cell and module, needs a huge chunk of land. Moreover, 33% of the overall project area must be earmarked for developing greenery. So, nearly 2,500-3,000 acres will be dedicated to the green cover.' To a question on the government's decision to relocate the project, he said that he was not personally in favour of relocation as they had already begun operations near Ramayapatnam port and that the company was unable to assess capital expenditure on the land owing to the change in the plan.
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Business Standard
2 hours ago
- Business Standard
India, Maldives sign 8 key deals across finance, digital, fisheries sectors
India and the Maldives on Friday exchanged eight key agreements covering a wide range of sectors, including Line of Credit, debt repayment, fisheries, digital transformation, and Unified Payments Interface (UPI), in the presence of Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu. "Delighted to exchange eight Agreements related to Line of Credit, debt repayment, FTA, fisheries & aquaculture, digital transformation, pharmacopoeia and UPI in the presence of PM @narendramodi and President @MMuizzu today in Male," External Affairs Minister S. Jaishankar posted on X. Confirming the development, the President's Office of the Maldives stated, "President witnesses exchange of key MoUs and agreements between the Maldives and India." The exchange of agreements set the tone for high-level discussions that followed, as Prime Minister Narendra Modi and President Mohamed Muizzu took stock of the implementation of the India-Maldives Joint Vision for a 'Comprehensive Economic and Maritime Security Partnership', with the Prime Minister reiterating India's commitment to deepening bilateral ties under its "Neighbourhood First" and Vision MAHASAGAR policies. PM Modi, who is on a two-day visit to Maldives, met President Muizzu at the President's Office in Male. President Muizzu appreciated India's commitment of being the First Responder for Maldives when it came to dealing with any crises. The two leaders discussed cooperation in the fields of development partnership, infrastructure support, capacity building, climate action and health. They also called for further strengthening defence and maritime security cooperation and, in this regard, noted the collaboration between the two countries under the Colombo Security Conclave. The two leaders also reviewed the economic partnership between the two countries. Prime Minister underscored that the proposed Free Trade Agreement and the Bilateral Investment Treaty would open new opportunities for both sides. Noting that the two countries must take advantage of the digital economy, especially to promote tourism, he welcomed the recent understandings on UPI adoption, acceptance of RUPAY card and trade in local currencies. The two leaders highlighted that the close development partnership between the countries was adding new value to the already strong people-to-people ties. The two leaders noted that, as Global South partners, they would continue to work on issues such as climate change, promotion of renewable energy, disaster risk reduction and weather science in the interests of the planet and its people. Prime Minister thanked President Muizzu for his strong condemnation of the Pahalgam terror attack, and the solidarity extended to India in the fight against terrorism. The two leaders witnessed exchange of six MOUs in the fields of fisheries and aquaculture, meteorology, digital public infrastructure, UPI, Indian pharmacopoeia and concessional Line of Credit. The new Line of Credit offers Rupees 4850 crores [ approx $550 million] in support of infrastructure development and other activities in Maldives. An Amendatory Agreement for the existing LoCs was also exchanged. It reduces Maldives's annual debt repayment obligations by 40% [from $51 million to 29 million]. Both sides also exchanged Terms of Reference of the proposed Free Trade Agreement. The two leaders also virtually inaugurated a roads and drainage system project in Addu city and six High Impact Community Development Projects in other cities. Prime Minister handed over 3,300 social housing units and 72 vehicles for Maldives National Defence Force and Immigration authorities. Prime Minister also handed over two units of Aarogya Maitri Health Cube [BHISHM] sets to the Government of Maldives. With state-of-the-art medical equipment as part of the cube, it can provide medical aid to 200 casualties with in-built support to sustain a crew of six medical personnel for up to 72 hours. In keeping with their deep commitment to conserving nature, the two leaders planted mango saplings as part of India's "Ek Pedh Maa Ke Naam" [Plant for Mother] and Maldives's "Pledge of 5 million Tree Plantation" campaigns. Prime Minister reiterated India's commitment to support Maldives and its people, as per its requirements and priorities, and for the peace, progress and prosperity of the Indian Ocean region. Ahead of the meeting, Prime Minister was received by President Muizzu and accorded a ceremonial welcome at Republic Square. The meeting was marked by warmth and a reaffirmation of the deep-rooted friendship between the two nations. Prime Minister expressed heartfelt appreciation for the gracious hospitality extended to him and his delegation and conveyed his best wishes on the historic occasion of the 60th anniversary of the independence of Maldives as also on the special occasion of the 60th anniversary of establishment of diplomatic relations between the two nations. The two leaders reflected on the deep bonds of friendship and trust that have been built over centuries, strengthened by strong people-to-people ties. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)