ITC, Zomato, 2 Tata cos among top 10 largecap stocks shopped by MFs in December
Zomato, Tata Steel, Tata Power, Axis Bank, and GAIL India were the top five largecap stocks shopped by mutual funds.
MF holding in Zomato increased by a sharp 71 million shares month-on-month (MoM) in December, according to a report by PhillipCapital. Shares of the online food delivery aggregator have rallied nearly 19% since December.
In 2023, the stock witnessed its longest-ever winning streak since listing, and this one-way run turned it into a multibagger.
Tata Power and Tata Steel also saw significant buying by mutual funds. In Tata Steel, their ownership increased by nearly 33 million shares MoM, and in Tata Power, it went up by nearly 25 million shares.
In the last one month, shares of Tata Steel have gained over 17%, while those of Tata Power surged nearly 24%.
Gail India was another largecap stock heavily bought by mutual funds in December. The public sector natural gas transmission major has given handsome returns of over 28% to investors since December.
Three largecap banking stocks also saw an increase in the ownership by MFs. Axis Bank, ICICI Bank, and State Bank of India were among the top 10 largecap stocks bought by them in December.
Besides, ITC, Samvardhana Motherson, and Mankind Pharma were also bought by MFs last month.
Midcap/Smallcap Stocks
In the midcap segment, the three stocks bought heavily by mutual funds last month were Vodafone Idea, GMR Airports, and Steel Authority of India.
In Vodafone Idea, shares held by MF schemes increased by a sharp 275 million MoM. Shares of the telecom operator have rallied 41% since December.
The year 2023 turned out to be the best-ever in the history of its listing for Vodafone Idea, as the stock saw its longest gaining streak of 9 months, and this
