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While PSU names like BHEL have drawn interest from various funds, the underperformance in names like Vodafone Idea has prompted an exit by funds as well.
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The month of May saw the return of block deals and Offer for Sales as markets showed signs of returning to stability after making lows for the year in April. Mutual Funds placed their bets in a host of stocks from the largecap to midcap space. Here is a look at which stocks did Mutual Funds buy and sell in the month of May, according to Nuvama Alternative & Quantitative Research, citing data from ACE MF:
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SBI MF | India's largest fund house purchased shares of Eternal (₹2,397 crore), ITC (₹2,341 crore) and HDFC Bank (₹1,371 crore). It reduced stake in stocks like TCS (₹1,191 crore), Solar Industries (₹879 crore) and Mahindra & Mahindra (₹575 crore). The fund made fresh investments in demerged entities like Raymond Realty and Aditya Birla Lifestyle, while making a complete exit from another demerged entity, ITC Hotels. Asian Paints and BHEL were also fresh investments from the fund, while Coromandel , Sanofi Consumer and Go Digit were complete exits as well.
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HDFC MF | HDFC Mutual Fund made new purchases in shares of food delivery aggregator Swiggy, whose shares continue to trade below their IPO price and the newly listed Schloss Bangalore, the parent of Leela Hotels. It made a complete exit from Mahindra Holidays and BSE, the latter having hit new highs recently. The fund increased its stake in PSU Banks like SBI and Bank of Baroda, along with Havells India, while trimming its stake in names like Hindustan Aeronautics, Indian Hotels and Max Healthcare.
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Kotak MF | The fund house made new purchases in shares of Bajaj Auto, Kfin Technologies and PNB Housing, along with PSU names like Engineers India. It has made a complete exit from stocks like Vedant Fashions. On the flip side, it has increased its stake like Swiggy and Dixon Technologies, while trimming its holdings in Reliance Industries, Ramco Cements and Coromandel .
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Axis MF | BHEL was a fresh investment made by the fund in May, while complete exits were made from names like Ambuja Cements, Life Insurance Corporation of India (LIC) and Shriram Finance. While Kotak MF trimmed its stake in Reliance Industries, Axis has increased its holdings in the Nifty 50 heavyweight, along with that in the infrastructure giant Larsen & Toubro. Sun Pharma, Varun Beverages and Kotak Mahindra Bank are some stocks where the fund has trimmed its holdings.
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Nippon India MF | The fund house made fresh purchase of shares of Ramco Cements, BPCL and SAIL in May, while increasing its stake in ITC, Swiggy and Interglobe Aviation (IndiGo). ONGC, Dixon Technologies and Eicher Motors were some stocsks where holdings were trimmed and a complete exit was made from names like Greenpanel Industries, Zydus Lifesciences, and Elgi Equipments.
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Quant MF | A largecap tilt is seen by the fund, who has made fresh purchase in shares of Bajaj Auto, ITC and DLF, and made a complete exit from PSUs like BHEL and outperformers like Coforge, along with Bajaj Finserv. It has increased its stake in KPR Mills, while simultaneously reducing it in CONCOR and Reliance Industries.
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ICICI Prudential MF | Suprajit Engineering, Blue Star and GE Shipping were some new buys made by the fund in May, while it exited names like Delhivery, Dr. Lal Pathlabs, and India Cements. NTPC, HUL and Sun Pharma were some stocks where the fund increased its stake. FSN E-commerce, Coal India and Dalmia Bharat were some stocks were it pared its stake.
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Franklin Templeton MF | The fund increased its stake in TCS (₹246 crore), PNB Housing (₹134 crore), and PI Industries (₹129 crore). On the flip side, it reduced its exposure in names like Infosys (₹313 crore), Bharti Airtel (₹161 crore) and Page Industries (₹136 crore). Suzlon Energy and Sagility India were fresh purchases made by the fund in May, but Shree Cement was a complete exit.
