BSE, Bank of Maharashtra among 6 small & midcap additions by mutual funds in August
Top mutual funds bought fresh stakes in Inox Wind, BSE, RPG Life Sciences, Shivalik Bimetals Control and Thomas Cook (I) and hiked their holdings in Suzlon Energy, Minda Corp, SJS Enterprises and Medplus Health Services, according to a Nuvama report. In the midcap space, Bank of Maharashtra made the cut while key buying activity was seen in Coforge, REC and Union Bank of India, the report highlighted.
Smallcap stocks where mutual funds made a complete exit include Simplex Infra Capacite Infra and Gulshan Polyols, while they pared stakes in Campus Activewear, VIP Industries and Nuvoco Vistas.
In the midcap segment, mutual funds trimmed their stakes in Supreme Industries, Tata Communications and Ashok Leyland.
Mutual Funds bought shares worth Rs 850 crore in SBFC Finance, Rs 380 crore in Inox Wind and Rs 350 crore in SJS Enterprises while selling stakes worth Rs 260 crore in VIP Industries, Rs 230 crore in Campus Activewear and Rs 100 crore in MTAR Technologies.
In the midcap space, in value terms, Coforge (Rs 4,900 crore), Suzlon Energy (Rs 1,240 crore), Concord Biotech (Rs 560 crore) and ACC (Rs 520 crore) saw significant mutual fund inflows while key reductions were seen in Zee Entertainment Enterprises (Rs 600 crore), LIC Housing Finance (Rs 540 crore), Escorts Kubota (Rs 360 crore) and Crompton Greaves (Rs 290 crore).
Mutual Funds' buying in August was worth Rs 14,500 crore. Foreign institutional investors (FIIs) made Rs 11,300 crore worth trading in the Indian secondary market, the report said.
Smallcap mutual fund schemes continued their month-on-month dominance in August with net inflows of Rs 4,264.82 crore while midcap MF schemes witnessed net inflows of Rs 2,512.34 crore according to the data released by
