Mutual funds were busy buying during the market rally of April; top stock bought by fund houses

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Updated: May 14, 2020 6:10:26 PM

Mutual funds during the month of April were seen picking large-cap stocks like Wipro, Eicher Motors, UPL, and Lupin.

Mutual Fund SIP, covid 19,cash crunch, how to withdraw money from SIP, mutual fund, equity MF, SIP returnsInformation Technology giant Wipro was the biggest buy for ICICI Prudential in April buying 125 shares in April, a 36% increase from March.

After the bloodbath on Dalal Street in the month of March, the benchmark indices saw some recovery in April as they tracked their global peers. While BSE Sensex surged 14.42% the 50-stock NSE Nifty surged 14.68%. But amidst the troubled times as almost all Indians refrained from going outside, inflows into equity funds declined sharply to Rs 6,100 crore from Rs 11,723 crore in March. Mutual funds during the month of April were seen picking large-cap stocks like Wipro, Eicher Motors, UPL, and Lupin, said ICICI Direct in a research note, while the top stocks sold by mutual funds included, Bandhan Bank JSW Steel, IndusInd Bank, and ZEE entertainment. Here’s what top mutual funds bought in April.

HDFC Asset Management Company

The fund house bought 115 lakh shares of Jindal Steel and Power in April, a jump of 4531% from March, according to the report. The second biggest buy was Engineers India followed by Hindalco Industries, buying 90 lakh and 70 lakh shares respectively. Among other shares bought by HDFC AMC were, Petronet LNG, Emami Ltd, Adani Ports, and Bharti Airtel. At the end of April HDFC AMC’s biggest shareholding was in ICICI Bank with a total of 2,321 lakh shares. The fund house sold a part of its holdings in Reliance Industries bringing its shareholding in the firm down by 6%.

ICICI Prudential

Information Technology giant Wipro was the biggest buy for ICICI Prudential in April buying 125 shares in April, a 36% increase from March. Trent Ltd was the second biggest buy, followed by Motilal Oswal Financial Services. According to the report, the value of Trent Ltd’s shares held by the fund house now stands at Rs 95 crore from Rs 69 crore in March. Brigade Enterprises, Orient Electric, Aurobindo Pharma, and Dr. Reddys Labs were the other top stock that the fund house bought. ICICI Prudential has top private sector banks among its top holdings at the end of April including HDFC Bank, ICICI Bank, and Axis Bank. With shares worth Rs 7,809 crore, Bharti Airtel is where the fund house has invested the most.

SBI AMC

With a 383% increase in shares held, TVS Motor Company is SBI’s biggest buy after purchasing 17 lakh shares of the company. Aurobindo Pharma was the second most bought scrip in April for SBI Mutual funds with 11 lakh shares bought. Interestingly, Tata Group’s India Hotels Company also features on the most shares bought by SBI in April as it bought 178 lakh shares of the firm despite there being a weak outlook for the hospitality business in the post-coronavirus world. Shares of Radhakishan Damani’s Avenue Supermarts was also bought by the fund house. Reliance Industries, although not one of the largest purchases made by SBI AMC, was bought as the mutual fund increased its holdings by 2% in the company.

Franklin Templeton

Problems in the debt fund schemes aside, Franklin Templeton was seen buying Hero MotoCorp, Hindustan Unilever, and NHPC among its biggest stock purchases. Franklin Templeton increased its shareholding in Hero MotoCorp by 1028% and by 241% in Hindustan Unilever. The fund house also bought Apollo Tyres, Trent, TVS Motor Company, Apollo Hospitals and State Bank of India in April. ICICI Direct highlighted that private lenders such as HDFC Bank and ICICI Bank are the largest holding of the fund house, followed by Bharti Airtel, Axis Bank, and Infosys.

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