ACC, Nykaa, HDFC AMC, BHEL among top 20 midcap stocks bought & sold by mutual funds in August
₹2,512 crore in August, a significant jump from ₹1,623 crore, MoM. Many mid and small-cap stocks have witnessed a steep rise which seems disconnected from the fundamental factors.
Instead, it appears to be driven by investor irrationality, fueled by recent high returns rather than improved company fundamentals, brokerage firm Kotak Institutional Equities said in a report on September 11. Also Read: Suzlon Energy, BSE, Godrej, Anupam Rasayan among top 20 smallcap stocks bought & sold by mutual funds in August Among midcap stocks, Union Bank Of India, Star Health and Allied Insurance Company, ACC, FSN E-Commerce Ventures, among others were in the list of top 10 midcap stocks that mutual funds bought in the month of August.
Mutual funds bought 2.63 crore equity shares of Coforge worth ₹14,365 crore, followed by ₹4,618 crore worth shares of Dixon Technologies (India) and 29.10 crore Nykaa shares aggregating to ₹3,886 crore in August, according to ICICI Direct report. Asset management companies (AMCs) also bought Adani group’s ACC shares ₹4,210 crore during the month.
On the other hand, the top 10 midcap sells by AMCs during the month included stocks like Supreme Industries, HDFC Asset Management Company, Ashok Leyland, Astral and LIC Housing Finance among others, the ICICI Direct report showed. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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