NEW DELHI: , LIC of India and FSN E-Commerce Venture (Nykaa) were some of the largecap stocks where mutual funds trimmed stakes in the June selloff. , IRCTC, and were among the stocks they bought in the month that saw BSE Sensex falling 4.58 per cent.
Data showed the institutional category increased stake in Vedanta to 7.78 crore shares in June from 6.01 crore shares in May, as the scrip fell over 30 per cent during the month. MF holding in Vedanta in June declined to Rs 1,736 crore in value terms from Rs 1,928 crore, an ICICIdirect report suggests.
Domestic fund managers raised holding in
to 49 lakh shares from 41 lakh shares. In value terms, MF holding in this stock rose to Rs 811 crore from Rs 770 crore month-on-month (MoM).
In IRCTC, MF holding increased to 10 lakh shares from 8 lakh shares, but the value of their holdings remained almost unchanged at Rs 57 crore, the ICICIdirect report suggested.
saw MF holding rising to Rs 2,934 crore from Rs 2,703 crore; witnessed MF holding increasing to Rs 7,439 crore from Rs 7,099 crore while Grasim Industries saw MF holding rising to Rs 4,450 crore from Rs 4,168 crore.
InterGlobe Aviation (to Rs 2,887 crore from Rs 2,911 crore),
(to Rs 2,970 crore from Rs 2,692 crore), (to Rs 12,596 crore from Rs 13,480 crore) and (to Rs 1,726 crore from Rs 1,750 crore) also saw MFs buying additional shares in the companies amid share price drops in some of the cases.
Chart 1 — ICICI gainers
Meanwhile,
saw MFs trimming stake to 16 lakh shares from 25 lakh shares. The value of their holding in the realtor declined to Rs 166 crore from Rs 242 crore. (to Rs 4,891 crore from Rs 5,655 crore), (to Rs 9,616 crore from Rs 12,811 crore), (to Rs 4,378 crore from Rs 4,947 crore), Zomato (to Rs 963 crore from Rs 1,451 crore and (to Rs 3,152 crore from Rs 4,113 crore) saw trimming of stakes by mutual funds.
Chart 2 – ICICI Losers
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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