Top stocks bought and sold by mutual funds in August
In August 2024, mutual funds purchased shares worth ₹35,600 crore (₹356 billion) while foreign institutional investors (FIIs) sold shares worth ₹2,700 crore (₹27 billion), according to the Nuvama Research report.
This reflects strategic shifts and sectoral adjustments across various mutual funds.
Top stock additions
Axis Bank: Mutual funds invested ₹3,100 crore (₹31 billion) in Axis Bank.
OLA Electric: With an investment of ₹2,700 crore (₹27 billion), mutual funds are optimistic about OLA Electric’s growth in the electric vehicle sector.
Brainbees Solutions: Investments in Brainbees Solutions totaled ₹2,500 crore (₹25 billion).
Top stock reductions
HDFC Bank: Mutual funds reduced their holdings in HDFC Bank by ₹8,300 crore (₹83 billion).
Bharti Airtel: Investments in Bharti Airtel decreased by ₹1,900 crore (₹19 billion).
Zydus Life: A reduction of ₹1,500 crore (₹15 billion) in Zydus Life investments suggests a reassessment of the company’s growth trajectory.
Sector-specific highlights
Aditya Birla Sun Life Mutual Fund
Additions: Significant investments were made in HPCL (₹370 crore or ₹3.7 billion), Kotak Mahindra Bank (₹260 crore or ₹2.6 billion), and ONGC (₹230 crore or ₹2.3 billion).
New entries included Eureka Forbes and Brainbees Solutions, while India Cements was a complete exit.
Reductions: Major reductions included HDFC Bank (₹720 crore or ₹7.2 billion), HCL Technologies (₹270 crore or ₹2.7 billion), and Bharti Airtel (₹240 crore or ₹2.4 billion).
Axis Mutual Fund
Additions: Key purchases included Lupin (₹570 crore or ₹5.7 billion), TVS Motor Co (₹500 crore or ₹5 billion), and Infosys (₹480 crore or ₹4.8 billion). New entrants included Premier Energies and PDS, while Inox India was a complete exit.
Reductions: Notable reductions were Mahindra & Mahindra (₹630 crore or ₹6.3 billion), Bajaj Finserv (₹590 crore or ₹5.9 billion), and Reliance Industries (₹530 crore or ₹5.3 billion).
DSP Mutual Fund
Additions: Major investments were in AU Small Finance (₹709 crore or ₹7.09 billion), Kirloskar Oil (₹205 crore or ₹2.05 billion), and Kotak Mahindra Bank (₹173 crore or ₹1.73 billion). New entries included Power Mech Projects and ERIS Lifesciences, while Whirlpool India was a complete exit.
Reductions: Significant reductions were observed in Whirlpool India (₹299 crore or ₹2.99 billion), Alkem Labs (₹256 crore or ₹2.56 billion), and Infosys (₹240 crore or ₹2.4 billion).
Franklin Templeton Mutual Fund
Additions: Investments were made in Lemon Tree Hotels (₹333 crore or ₹3.33 billion), TCS (₹310 crore or ₹3.1 billion), and Infosys (₹287 crore or ₹2.87 billion). New entries included UPL and OLA Electric, while LIC Housing Finance was a complete exit.
Reductions: Reduced exposure in CESC (₹178 crore or ₹1.78 billion), Coforge (₹152 crore or ₹1.52 billion), and Crompton Greaves Consumer Electricals (₹129 crore or ₹1.29 billion).
HDFC Mutual Fund
Additions: Major additions included Delhivery (₹588 crore or ₹5.88 billion), InterGlobe Aviation (₹554 crore or ₹5.54 billion), and Maruti Suzuki (₹540 crore or ₹5.4 billion). New entrants were OLA Electric and Brainbees Solutions.
Reductions: Prominent reductions were in Infosys (₹343 crore or ₹3.43 billion), Apollo Hospitals (₹330 crore or ₹3.3 billion), and Coal India (₹297 crore or ₹2.97 billion).
ICICI Prudential Mutual Fund
Additions: Significant investments were made in Axis Bank (₹2,047 crore or ₹20.47 billion), HDFC Bank (₹1,952 crore or ₹19.52 billion), and Maruti Suzuki (₹1,618 crore or ₹16.18 billion).
New entrants included Brainbees Solutions and Inox Wind, while VRL Logistics was a complete exit.
Reductions: Key reductions included Sun Pharma Industries (₹1,233 crore or ₹12.33 billion), Infosys (₹960 crore or ₹9.6 billion), and Bharti Airtel (₹704 crore or ₹7.04 billion).
Kotak Mutual Fund
Additions: Notable investments were made in Infosys (₹578 crore or ₹5.78 billion), Nykaa (₹562 crore or ₹5.62 billion), and Birlasoft (₹508 crore or ₹5.08 billion). New entrants included Zen Technologies and Brainbees Solutions, while Whirlpool India was a complete exit.
Reductions: Major reductions included Maruti Suzuki (₹1,002 crore or ₹10.02 billion), Oil India (₹927 crore or ₹9.27 billion), and ICICI Bank (₹745 crore or ₹7.45 billion).
SBI Mutual Fund
Additions: Key investments included Brainbees Solutions (₹1,660 crore or ₹16.6 billion), Reliance Industries (₹856 crore or ₹8.56 billion), and Adani Energy (₹743 crore or ₹7.43 billion). New entries were Brainbees Solutions and OLA Electric.
Reductions: Significant reductions were in VST Industries (₹5,392 crore or ₹53.92 billion), HDFC Bank (₹1,112 crore or ₹11.12 billion), and Bharti Airtel (₹851 crore or ₹8.51 billion).
Note: All data has been sourced from Nuvama Research report