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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.
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