Mutual fund managers added Kotak Mahindra Bank, Reliance shares in March, trim stakes in ITC, Airtel, TCS

Mutual fund managers had been on a procuring spree within the month of March, deploying Rs 222 billion, taking their complete shopping for to Rs 1.6 trillion within the earlier monetary yr. Top of their procuring record in March had been banking and finance sector shares similar to Kotak Mahindra Bank, Housing Development Finance Corporation, together with ONGC, Reliance Industries, and Maruti Suzuki India. On the opposite hand, mutual funds had been seen trimming their stake in FMCG main ITC accompanied by Hindalco Industries, Bharti Airtel, and TCS. During the month of March, Sensex and Nifty rebounded from lows, hovering practically 4% every. Bank Nifty closed with marginal beneficial properties. 

Stocks purchased by mutual funds

  • Data collected by Edelweiss Alternative Research confirmed that Kotak Mahindra Bank shares had been excessive in demand through the month of March with fund managers shopping for Rs 27.22 billion price of the lender’s inventory. A complete of 15.5 million further shares had been added by numerous fund homes. Shares of the financial institution had been down 4.8% in March.
  • Housing Development Finance Corporation (HDFC) was the second most bought inventory in March. Data confirmed 8.9 million shares of the mortgage lender had been added by fund homes, between February and March, price Rs 21.38 billion. HDFC share value rose 1% through the earlier month.
  • ONGC was additionally in excessive demand through the month. Fund managers lapped up 123.7 million shares of the corporate in March, price Rs 20.27 billion. A 2% rise was registered by ONGC shares in March.
  • Maruti Suzuki: 2.5 million shares purchased, price Rs 19.27 billion.
  • Hindustan Unilever: 7.3 million shares purchased, price Rs 14.96 billion.
  • Reliance Industries: 5.3 million shares purchased, price Rs 13.95 billion

Other high inventory buys by mutual fund homes included Coforge, Indian Hotels, Vedanta, and ICICI Bank.

Stocks bought by mutual funds

  • ITC was probably the most bought inventory through the month of March. Fund managers bought a complete of 119.9 million shares of the cigarette to hospitality main, price Rs 30.05 billion. ITC share value rallied 16% through the month. 
  • Hindalco Industries was the second most bought scrip, in accordance with the Edelweiss knowledge. Fund managers bought 26.9 million shares of the corporate price Rs Rs 15.35 billion. Shares of the corporate ended the earlier month flat. 
  • Sun Pharmaceuticals was the third most bought firm amongst fund homes. Data confirmed {that a} complete of 11.7 million had been bought by mutual funds, price Rs 10.69 billion. 
  • Bharti Airtel: 12 million shares bought, price Rs 9 billion.
  • JSW Steel: 9.2 million shares bought, price Rs 6.74 billion.
  • Tata Consultancy Services: 1.4 million shares bought, price Rs 5.06 billion.

Other shares bought by fund homes included Cipla, Tech Mahindra, Tata Motors, and Voltas. 

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