RIL, HDFC Bank, ITC among top stocks bought and sold by mutual funds last month
mutual funds bought stocks worth Rs 575 billion in the Indian secondary market. Mutual fund managers actively manage portfolios, adding or exiting stocks to deliver better performance. Here are the large-, mid-, and small-cap stocks that mutual funds bought and sold in January, according to the Mutual Fund Insights report by Nuvama Alternative & Quantitative Research.
The key additions by the mutual fund industry were Axis Bank (Rs 89 billion), HDFC Bank (Rs 50 billion), and ICICI Bank (Rs 35 billion), while the key reductions were in Reliance Industries (Rs 26 billion), ITC (Rs 18 billion), and Bharat Electronics (Rs 8 billion).
The top additions in the large-cap space for three straight months were Infosys, Life Insurance Corporation, Sun Pharma, Kotak Bank, and Mahindra & Mahindra. The top reductions during the same period were Hindustan Aeronautics, Nestlé India, Power Finance Corporation, Zydus Life, and Muthoot Finance.
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In the large-cap segment, the new entry was IDBI Bank. Significant buying was observed in Axis Bank, Reliance Industries, Hindustan Unilever, Infosys, and HDFC Bank, while the highest selling was seen in ITC, Jio Financial, State Bank of India, Polycab India, and HCL Technologies.
The key additions in the mid-cap space were ITC Hotels (Rs 21 billion), Indraprastha Gas (Rs 18 billion), and Sona BLW (Rs 7 billion), whereas the key reductions were in Central Depository Services (Rs 7
