Quick News Bit

Mutual funds bought these midcap stocks the most last month

0

For the month of July 2021, mutual funds bought stocks including Aditya Birla Fashion, Tata Chemicals, Shriram Transport the most from the midcaps space. As stock markets continued to score record highs, defying talks of elevated valuations, net inflows into equity mutual fund schemes galloped to a new high in July, rising almost six times in a month.

Equity mutual funds surged to a record high as the equity schemes received a net 22,583 crore, a meaningful jump from 5,988 crore received in June. The inflow pushed assets under management (AUM) of the mutual fund industry to an all-time high of 35 lakh crore in July-end.

The top midcap stocks bought by asset management companies (AMCs) includes companies like Aditya Birla Fashion, Tata Chemicals, Shriram Transport, Godrej Industries, Macrotech Developers, Apollo Tyres, The list also includes names of Emami, TVS Motor, Coforge, Federal Bank, Ashok Leyland, Manapurram Finance, Bharat Forge.

Meanwhile, M&M Financial, Canara Bank, HPCL, IRFC, L&T Finance, Zee Entertainment, Max Financial were some of the top sells in the midcap space by the mutual funds during the month under review, showed analysis by brokerage firm Edelweiss.

Mutual funds (MFs) participated enthusiastically in the recent initial public offerings (IPOs) of Zomato, GR Infra, Tatva Chintan Pharma. 

India’s stock markets scaled record highs last week as a slew of companies reported strong earnings and certain economic indicators led to expectation of a demand recovery. The exuberance also led to a number of new fund launches that in turn have driven flows into equity funds. Barring, equity linked saving schemes (ELSS) and value fund, which saw withdrawal to the tune of 512 crore and 462 crore, respectively, all the equity schemes witnessed inflow last month.

 

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment