Buy RIL, sell Jio Financial: How mutual funds tweaked stock portfolios in April
April, mutual funds bought stocks of Rs 32,800 crore. Across the industry, the key additions were Kotak Mahindra Bank, Axis Bank, and Bharti Hexacom, while the key reductions were State Bank of India, Jio Financial Services, and Bajaj Finance, according to Mutual Fund Insight by Nuvama Alternative & Quantitative Research.
Largecap Picks
From the largecap space, mutual funds added Kotak Mahindra Bank, HDFC Bank, Axis Bank, Vedanta, and Reliance Industries.
The top reductions were Jio Financial, Bajaj Finance, ICICI Bank, Bharat Electronics, and Hindustan Aeronautics.
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The top holdings included ICICI Bank, HDFC Bank, Reliance Industries, Axis Bank, and Larsen & Toubro.
According to the report, for three consecutive months, MFs added Reliance Industries, HDFC Bank, Hindustan Unilever, Axis Bank and ONGC. On the other hand, reduced stake in ICICI Bank, State Bank of India, Bajaj Finance, Bajaj Auto, and Nestle India for three straight months.
Midcap Bets
Among the midcap stocks, MFs added two new stocks — Bharti Hexacom (IPO), and Vodafone Idea (FPO). Patanjali Foods was completely exited from the portfolio.
The top additions in April were Bharti Hexacom, Vodafone Idea, Indus Towers, Fortis Healthcare, and Container Corporation of India.The top reductions in April were made from LIC Housing, Indraprastha Gas, Federal Bank, Thermax, and Phoenix Mills.
Among the top holdings from the midcap segment were Cummins
