Investors continued to back equity funds in August, with inflows into equity funds further improving to Rs 9,152 crore. SIP contribution has been good at over Rs 8,200 crore. Wondering where all the equity fund inflows went? Equity MF managers invest in stocks. They sell stocks too when they feel there is no upside left. Here are the details of MF stock activity for August 2019. Do note that stocks above Rs 50 crore holding are considered for this.
Among large caps, Ashok Leyland, Eicher Motors, Avenue Supermarts, Adani Ports and Yes Bank witnessed highest buying during August 2019. Equity mutual funds also bought Biocon, Ultratech Cement, Motherson Sumi, Reliance Industries and JSW Steel.
Largecap stocks, which saw selling by AMCs on a consolidated level were Zee Entertainment, HDFC AMC, Havells, L&T Finance, and Bandhan Bank. In the MF sell-list were also largecap names like Hero MotoCorp, Bharti Infratel, United Spirits, DLF, and ICICI Lombard General Insurance.
In midcaps, stocks like LIC Housing Finance, Alkem Laboratories, GFL Ltd, JSW Energy and Gruh Finance witnessed buying during August 2019. Beaten down midcaps like Godrej Properties, Dish TV, Phoenix Mills, Federal Bank, and BHEL were also on the shopping list.
Midcap stocks, which saw selling by AMCs were Reliance Nippon AMC, NBCC, PNB Housing Finance, Jindal Steel & Power and Adani Power. Midcap stocks like Apollo Hospitals, Glenmark, Bank of India, Muthoot Finance and Endurance Technologies also saw selling from MFs.
In small caps, stocks like Mahanagar Gas, Delta Corp, Ceat, VMart, and Lemon Tree Hotels witnessed highest buying during August 2019. There was good buying by MFs in Can Fin Homes, DB Corp, Birlasoft, PVR and P&G Health.
Small cap stocks, which saw selling by AMCs were NIIT Technologies, Wonderla Holidays, Ujjivan Financial Services, Suprajit Engineering and BSE Ltd. That apart, Blue Dart, Nocil, Just Dial, Redington, and Godfrey Phillips India also saw selling pressure by equity funds.
HDFC AMC’s top stocks buy included Inox Fluorochemicals, Avenue Supermarts, Mahanagar Gas. Clearly, the investment team headed by Prashant Jain finds a lot of value in Avenue Supermarts where the fund-house’s holding has gone up manifold.
ICICI Prudential AMC’s top buys include V-Mart Retail, Arvind Fashions, BHEL and Phoenix Mills. The IPru MF investment team, headed by Sankar Naren, has increased its holdings in V-Mart and Arvind by manifold.
Manish Gunwani led Reliance Nippon AMC’s top stock buys included Sterling and Wilson Solar, LIC Housing Finance, Affle and Mahangar Gas. They cut positions sharply in NTPC, IOC and Coal India.
SBI MF investment team, led by Navneet Munot, bought stocks like Alkem, Ashok Leyland and JSW Energy.
Aditya Birla Sun Life AMC’s equity team led by Mahesh Patil increased positions in Yes Bank, LIC Housing Finance, Ultratech Cement, and GFL, among others. ICICI Bank, Kotak Bank and IndusInd Bank were their notable sells.
Disclaimer: Views expressed here in this article are for general information and reading purpose only. They do not constitute any guidelines or recommendations on any course of action to be followed by the reader. The views are not meant to serve as a professional guide/investment advice / intended to be an offer or solicitation for the purchase or sale of any financial product or instrument.