Reliance Industries Ltd (RIL), ICICI Bank Ltd, HDFC Bank Ltd, Tata Motors Ltd and Maruti Suzuki were some of the stocks mutual funds (MFs) bought with both hands in September. Larsen & Toubro, Jio Financial Services (JFS), State Bank of India Ltd (SBI), NHPC Ltd and Infosys were among stocks they trimmed stakes to in the month gone by.
Reliance Industries was their biggest stock bet, as MFs bought an additional 1.18 crore RIL shares to take their total exposure in the oil-to-telecom major to 43 crore in September from 41.81 crore in August. They bought roughly Rs 2,770 crore worth of RIL shares during the month, data compiled by Nuvama Institutional Equities suggest.
In ICICI Bank, the desi fund managers bought an additional 2.47 crore shares worth Rs 2,350 crore. HDFC Bank saw Rs 1,350 crore in MF buying in September, as the institutional category bought an additional 89 lakh HDFC Bank shares for the month.
Auto makers Tata Motors and Maruti Suzuki saw MF buying to the tune of Rs 1,180 crore and Rs 1,090 crore, respectively. In the case of Shriram Finance and Zomato, MFs bought shares worth Rs 870 crore each. Adani Power saw Rs 850 crore in MF buying for the month. ITC, Vodafone Idea, ACC, Bajaj Auto and Kotak Mahindra Bank were some other names in the MF buying cart for the month.
On the flip side, L&T saw MFs dumping some 96 lakh shares worth Rs 2,900 crore for the month. Jio Financial, RIL’s demerged financial services business, saw Rs 2850 crore worth selling in its shares, as MFs sold 12.34 crore JFS shares for the month. State Bank of India (Rs 830 crore), NHPC (Rs 720 crore), HDFC AMC (Rs 490 crore), Bandhan Bank (Rs 360 crore) and Axis Bank (Rs 350 crore) were some other stocks were MFs trimmed exposure in September.
IDBI Bank, Adani Green Energy Ltd and Hindustan Zinc Ltd were among new entries to large cap mutual funds. JSW Infrastructure Ltd, Central Bank of India Ltd ad Indian Overseas Bank (IOB) were among some of the midcap MF entrants.
Smallcap MF schemes saw entry of RR Kabel, Sai Silks, Jupiter Life, Samhi Hotels and HLE Glasscoat. Exits included Dwarikesh Sugar, GMDC, Garden Reach Shipbuilders, Easy Trip Planners and Sterlite Technologies.
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