Mutual funds staked Rs 284 billion in secondary markets during the month, with large-cap names such as Infosys and Reliance Industries among the top buys, along with ICICI Bank.

Domestic mutual funds saw another month of net inflows into equities in February. Mutual funds have wagered Rs 284 billion (Rs 28,400 crore) in secondary markets during the month, with large-cap names such as Infosys and Reliance Industries among the top buys along with ICICI Bank. On the other hand, IT major TCS was the top-selling stock among fund managers, along with Vedanta. In February, domestic markets fell more than 3%, with most of the losses in recent days as tensions between Russia and Ukraine escalated and crude oil prices skyrocketed. Domestic institutions have been net buyers on Dalal Street for months, while foreign investors have been net sellers for months.

Large-cap additions and discounts

Infosys was one of the most bought stocks by fund managers in February. According to data from Edelweiss, mutual funds owned 537.2 million shares of the IT giant at the end of January 2022, compared to 554.8 million at the end of February.
-Reliance Industries Limited was the second most bought share, with a total of 331.6 million shares held by fund houses, an increase of 321.6 million. In terms of value, the change was worth Rs 23.77 billion.
-ICICI Bank was also among the most purchased scrips. Edelweiss data showed fund managers owned 1,555 million
shares of the lender at the end of February, an increase of 27 million shares or a value of Rs 20 million.
-The best-selling share was Tata Consultancy Services (TCS). Fund houses sold 2.6 million shares of the company worth Rs 9.23 billion.
-Vedanta was the other top-selling stock as investors cut their position by 16 million shares.

Mid-cap additions and reductions

-Newly listed (Vedant Fashions) Manyavar stocks were the most favored among midcaps, with fund managers buying 17.1 million shares of the company, Edelweiss data showed.
-Heavy buys were also seen at Zee Entertainment Enterprises (ZEE). Fund houses bought a total of 25 million shares of the company worth Rs 5.72 crore.
-Escorts was the top-selling scrip among mid-caps as fund managers reduced their holdings by 2.7 million.
–Punjab National Bank shares were also sold by fund houses, reducing their holdings by 75 million shares.

Fresh inclusions and full endings

In February, Axis’ mutual fund sold its entire stake in Escorts, along with three other scrips. On the other hand, the fund house bought Manyavar shares, among other things. DSP mutual funds also sold their stake in Escorts along with Sterlite Technologies, while buying shares of Manyavar, PVR and IRCTC. HDFC mutual fund sold its entire stake in Abbott India, MRF and Astral. The fund house added shares from Vodafone Idea and National Aluminium. ICICI Prudential mutual fund exited Metro Brands and Sansera Engineering – both recently listed to buy Manyavar shares.

This post Mutual fund managers bought shares of Reliance Industries, TCS and ICICI Bank in February and sold TCS

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