India’s Mutual Funds doubled down on financial services names in the month of June, according to data from Prime Infobase, while trimming their stakes…
1/8India’s Mutual Funds doubled down on financial services names in the month of June, according to data from Prime Infobase, while trimming their stakes in multiple capital goods names along with other stocks. CMR Green Technologies, among the new IPOs, also features in most Mutual Funds’ shopping list. Here’s a look at what these fund house buy and sell last month.
2/8HDFC MF | One of India’s oldest and largest fund houses raised its bet on budget carrier InterGlobe Aviation the most in June, adding ₹1,882 crore worth of shares. It also added to JSW Infrastructure (₹1,765 crore), Eternal (₹1,082 crore), ACME Solar Holdings (₹813 crore), and Craftsman Automation (₹540 crore). On the flip side, it trimmed Infosys (₹1,494 crore), Bajaj Auto (₹674 crore), Tata Steel (₹584 crore), Jindal Steel (₹419 crore), and Hindalco (₹331 crore). Corona Remedies, CMR Green Technologies, KSB and National Securities Depository led a list of seven fresh buys, while the fund exited 16 stocks completely, including Rishabh Instruments, Vedanta Oil & Gas, Vedanta Iron & Steel, and Just Dial.
3/8KOTAK MF | The private fund house’s biggest addition in June was Bajaj Finance, where it raised its stake by ₹1,085 crore. It also bought more of Ajanta Pharma (₹822 crore), Maruti Suzuki India (₹696 crore), Emcure Pharmaceuticals (₹663 crore), and Lenskart Solutions (₹618 crore). It cut its holding in BSE Ltd (₹818 crore), Tata Consultancy Services (₹763 crore), GE Vernova T&D India (₹656 crore), NTPC (₹629 crore), and Indus Towers (₹525 crore). CMR Green Technologies was the fund’s only fresh buy for the month, while it walked away entirely from Heritage Foods and Kwality Wall’s (India).
4/8ICICI PRUDENTIAL MF | The fund house doubled down on HDFC Bank in June, increasing its holding by ₹3,865 crore. It also added Vedanta Aluminium Metal (₹2,866 crore), Reliance Industries (₹2,246 crore), Tata Steel (₹1,643 crore), and General Insurance Corp of India (₹1,210 crore). It reduced exposure to Larsen & Toubro (₹1,062 crore), Bajaj Auto (₹1,015 crore), Vedanta Oil & Gas (₹804 crore), Vedanta Iron & Steel (₹725 crore), and ITC (₹523 crore). Fresh buys included Pondy Oxides & Chemicals, IndiQube Spaces, Turtlemint Fintech Solutions and CMR Green Technologies, among others, while the fund made a clean exit from 14 stocks, including Sudeep Pharma, West Coast Paper Mills, Jamna Auto Industries, and Just Dial.
5/8AXIS MF | The fund house’s top pick for the month was, once again, HDFC Bank, where it added ₹1,076 crore worth of shares. It also increased its stake in Bajaj Finance (₹856 crore), InterGlobe Aviation (₹817 crore), Eternal (₹762 crore), and Cholamandalam Investment & Finance (₹518 crore). It pared its holding in Tata Consultancy Services (₹749 crore), Multi Commodity Exchange of India (₹620 crore), Hindalco (₹558 crore), Infosys (₹556 crore), and Reliance Industries (₹540 crore). P.N. Gadgil Jewellers was the fund’s sole fresh buy, while it completely exited Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel, Electronics Mart India, and AstraZeneca Pharma India.
6/8LIC MF | The state-run insurer’s fund arm made its biggest addition in Eicher Motors, raising its stake by ₹105 crore. It also bought more of Navin Fluorine International (₹85 crore), InterGlobe Aviation (₹68 crore), Axis Bank (₹59 crore), and Bajaj Finance (₹53 crore). It trimmed Maruti Suzuki India (₹116 crore), Infosys (₹99 crore), Multi Commodity Exchange of India (₹99 crore), Tata Power (₹84 crore), and J.K. Cement (₹49 crore). Ather Energy, SML Mahindra, Aavas Financiers and Quality Power Electrical Equipments were fresh buys, while the fund exited 14 stocks entirely, including Central Mine Planning & Design Institute, CCL Products India, Isgec Heavy Engineering, and the four Vedanta demerged entities.
7/8NIPPON INDIA MF | The fund house added most to HDFC Bank in June, raising its stake by ₹3,537 crore. It also increased exposure to ICICI Bank (₹2,328 crore), Axis Bank (₹1,630 crore), Bajaj Finance (₹950 crore), and ACME Solar Holdings (₹871 crore). It cut its holding in GE Vernova T&D India (₹815 crore), Tata Steel (₹626 crore), Varun Beverages (₹564 crore), Power Finance Corp (₹471 crore), and Hitachi Energy India (₹445 crore). CMR Green Technologies and Vinati Organics were fresh buys, while the fund made a complete exit from Bharat Coking Coal and P.N. Gadgil Jewellers.
8/8DSP MF | The fund house’s biggest addition in June was ICICI Bank, where it raised its stake by ₹905 crore. It also increased holdings in HDFC Bank (₹873 crore), State Bank of India (₹840 crore), Reliance Industries (₹658 crore), and Axis Bank (₹386 crore). It trimmed Indus Towers (₹313 crore), Samvardhana Motherson International (₹253 crore), Tata Consultancy Services (₹232 crore), LIC Housing Finance (₹229 crore), and Coforge (₹214 crore). The fund made no fresh buys during the month, but exited nine stocks completely, including Shivalik Bimetal Controls, Procter & Gamble Hygiene & Healthcare, and the three Vedanta demerged entities.
