Skip to content

Charticle: Mutual funds continue to lap up banking shares in July | Mutual Fund – Top Stories



Mutual funds (MFs) continued to lap up HDFC Bank and other major banking sector stocks in July. 


With a deployment of Rs 2,720 crore in July, MFs’ total investment in HDFC Bank in calendar year 2024 (till now) surged to Rs 48,820 crore, shows a report by Nuvama Alternative & Quantitative Research.


The investment is the aggregate of total net deployment by active equity, passive and equity-oriented hybrid schemes.


Other top buys in the banking space include Axis Bank and State Bank of India. Vedanta, ITC and Asian Bank were also among the most-bought stocks last month.


Among smallcap companies, MFs lapped up shares of PNB Housing, Jyoti CNC Auto, Emcure Pharma, Sobha and Piramal Enterprises, shows the report.

Companies in which MFs trimmed their holdings significantly include Tata Consultancy Services (TCS), NTPC, Avenue Supermart, Bharat Electronics and Sun Pharma.

Bulking up: Banks dominate MFs’ buy list


Top buys

Surge in holding (in Rs cr)

Vedanta

3,290

HDFC Bank

2,720

ITC

2,690

Axis Bank

2,130

Asian Paint

2,070

Power Grid Corp

1,620

State Bank of India

1,460



Top sells

Decline in holding (in Rs cr)

TCS

2,710

NTPC

2,580

Avenue Supermart

2,120

Bharat Electronics

2,070

Sun Pharma

2,050


Source: Nuvama Alternative & Quantitative Research

Note: During two-month period (August and September); **At October 12 closing price

 

First Published: Aug 15 2024 | 12:42 AM IST

Leave a Reply

Your email address will not be published. Required fields are marked *