Among the most bought industry wide stocks, LIC led that list as Mutual Funds piled into India’s largest insurer during its mega Offer For Sale (OFS)….
1/8India’s mutual funds joined the list of investors who bet on a flurry of IPOs that came out in the month of August, while increasing their holding in select largecaps and trimming their stake in some as well, according to the latest data released by Prime Database. Here’s a look at what they bought and sold in the month gone by.
2/8Among the most bought industry wide stocks, LIC led that list as Mutual Funds piled into India’s largest insurer during its mega Offer For Sale (OFS). Fund houses purchased LIC shares worth over ₹24,000 crore according to the Prime Database data. Other stocks in the list include HDFC Bank (₹5,492 crore), Bharti Airtel (₹3,870 crore), the newly listed Dhoot Transmission (₹3,130 crore) and Aster DM (₹2,967 crore).
3/8Largecap Nifty 50 constituents also are a part of the stocks that were sold the most as per industry-wide trends. Eternal leads the list here with selling worth over ₹4,400 crore, followed by ICICI Bank (₹2,238 crore), Infosys (₹2,158 crore), Kotak Mahindra Bank (₹1,846.6 crore), and Bajaj Finserv (₹1,467.1 crore). Lets now take a look at what some of the top fund houses did last month.
4/8SBI MF | India’s largest fund house by assets bet on two new listings in Dhoot Transmission (₹972 crore), and Shiprocket (₹117.9 crore). The also made fresh purchases in Rubicon Research (₹300 crore), Foseco India (₹185.5 crore) and SPR Auto Tech (₹75.4 crore). SBI MF was one of the largest buyers in the LIC OFS with a ₹6,142 crore purchase, and also increased their stake in Tenneco Clean Air (₹1,131 crore), Paytm (₹939 crore), and Avenue Supermarts (₹939 crore). The fund house trimmed its stake in larger names like MCX (₹964 crore), Bajaj Finserv (₹917 crore), SBI (₹858 crore), Infosys (₹648 crore) and Reliance Industries (₹576.2 crore). In addition to these, SBI MF made a complete exit from ICRA, Shivalik Bimetal, Inox India and Stanley Lifestyles.
5/8ICICI Prudential MF | The fund house bet on Dr. Agarwal’s Health Care as a fresh buy with a purchase of ₹829.4 crore. Lalitha Jewellery (₹129.4 crore), Dhoot Transmission (₹121.4 crore), Purple Style Labs and Symbiotec Pharmalabs are some of the other fresh purchases made by the fund. ICICI Prudential MF was also a major buyer in the LIC OFS with a purchase of over ₹11,003.3 crore. It also increased its stake in Dr. Reddy’s Laboratories (₹1,183 crore), BSE (₹1,180 crore), Avenue Supermarts (₹1,162.3 crore), and Cummins India (₹1,005.4 crore). The fund reduced its stake in L&T (₹1,041 crore), Kotak Mahindra Bank (₹915 crore), SBI (₹798.4 crore), Bajaj Auto (₹745.6 crore), and Hero MotoCorp (₹685 crore). It has also made a complete exit from BASF India, Somany Ceramics, Andhra Paper, Apcotex Industries, and Aarti Pharmalabs.
6/8HDFC MF | The fund house made fresh purchases in Shiprocket (₹146 crore), Dhoot Transmission (₹135.4 crore), Molbio Diagnostics (₹115 crore), Milky Mist (₹63.8 crore), and Symbiotic Pharmalabs (₹45 crore), all new listings. Besides LIC (₹1,774 crore), Aster DM (₹1,664 crore), UltraTech (₹1,546.7 crore), Rubicon Research (₹847 crore), and Bharti Airtel (₹646 crore). Power Grid (₹498.1 crore), Cyient (₹474.9 crore), Fortis Healthcare (₹398.5 crore), Infosys (₹384 crore), and Eternal (₹315 crore) are the stocks in which the fund reduced its stake, while making a complete exit from Safari Industries.
7/8Kotak MF | The fund house made a fresh purchase in Viyash Scientific (₹457 crore) in August, along with Molbio Diagnostics (₹278.5 crore), Shiprocket (₹107.4 crore), SPR Auto Technologies (₹79.9 crore) and Tempsens Instruments (₹50 crore). HDFC Bank (₹1,132.7 crore), Groww (₹1,104.2 crore), Aster DM (₹797 crore), Sun Pharma (₹707 crore) and ICICI Bank (₹705.1 crore) were stocks in which the fund increased its stake. It also sold shares of Eternal (₹1,351.8 crore), Kotak Mahindra Bank (₹926 crore), Cholamandalam Investment & Finance (₹608 crore), Lenskart (₹599 crore), and Grasim (₹569 crore). It made a complete exit from ISGEC Heavy Engineering, and Juniper Hotels.
8/8Axis MF | Dhoot Transmission (₹623.8 crore) found its way to the purchase list of this fund as well in August. Other fresh purchases include Rubicon Research (₹203 crore), SPR Auto (₹165.6 crore), Leap India (₹79 crore) and Karnataka Bank (₹73 crore). It significantly increased its stake in Paytm (₹957 crore), Meesho (₹320 crore), TD Power (₹302 crore), and Cyient (₹280 crore), while simultaneously reducing its stake in UltraTech Cement (₹352.8 crore), ONGC (₹271.4 crore), Trent (₹256.1 crore), Coromandel International (₹252 crore), and Mankind Pharma (₹236.7 crore).
