Quant MF picked Adani Enterprises, Adani Power shares in August; these funds bought Jio Financial stocks – Business Today

Quant Mutual Fund entered two Adani group stocks namely Adani Enterprises and Adani Power in August, monthly mutual fund (MF) data compiled by Nuvama Alternative & Quantitative Research suggested. Motilal Oswal MF, Nippon India MF and Quant MF, on the other hand, were among MFs that bought additional shares of newly debutant Jio Financial Services (JFS). As per the Nuvama’s data, Quant MF held Rs 344 crore worth 14,22,000 Adani Enterprises shares at August end. It also held 42,56,000 shares worth Rs 137 crore worth Adani Power shares in the month gone by.
As per Nuvama, the fund houses that added the most number of JFS shares were Motilal Oswal MF (held 6.03 crore shares, added 5.95 crore shares worth Rs 1,400 crore); Quant MF (held 6.81 crore shares, added 5.86 crore shares worth Rs 1,600 crore) and Nippon India MF (held 3.31 crore shares, added 1.37 crore shares worth Rs 770 crore). Shareholders of Reliance Industries received JFS shares in 1:1 ratio, with the stock getting listed on August 21. Net-net, mutual funds as a category held 41.71 crore Jio Financial shares at August end.
Nuvama said significant buying in the largecap segment was seen in HDFC Bank, InterGlobe Aviation and Bharti Airtel while the highest selling was seen in State Bank of India, Infosys and ICICI Bank. In the midcap segment, buying was seen in Coforge, REC and Union Bank while key selling was observed in Supreme Industries, Tata Communications and Ashok Leyland. Bank of Maharashtra was new entry to the midcap MF space.
Among small cap MFs, significant buying was seen in Suzlon Energy, Minda Corp, SJS Enterprises while highest selling was seen in Campus, VIP Industries, Nuvoco Vistas. New entries included Inox Wind, BSE, RPG Lifescience while Simplex Infra, Capacite Infra and Gulshan Polyols were complete exits.

Disclaimer: Recommendations provided in this article and/ or any reports attached or relied on herein are authored by an external party. The views expressed herein are those of the respective authors/ entities, and do not represent the views of Business Today (BT). BT does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. BT further urges you to consult your financial adviser and seek independent advice regarding the contents herein, including stock investments, mutual funds, general market risks etc.

Also read: Stocks that share market analysts recommended on September 13, 2023: Bharti Airtel, SBI Life Insurance Company and Vedanta
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Also read: Stocks to watch on September 13, 2023: Infosys, Gokaldas Exports, Bajaj Finance, Hindalco, Vijaya Diagnostic
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