In September, mutual funds pumped money into midcap public sector stocks such as RVNL, IREDA, Mazagon Dock and HUDCO.
What Happened: As per a research note from Motilal Oswal, mutual funds bought around 48 lakh shares of IREDA in September. The power financier was the top pick of mutual funds in the midcap segment.
“The highest month-on-month net buying in September was observed in IREDA,” the brokerage firm added in the report.
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RVNL saw mutual funds buying around 28 lakh shares in September. Defence major Mazagon Dock also saw mutual funds buying around 14 lakh shares in September. Mutual funds picked up around 85 lakh shares of HUDCO in the month.
On the other hand, Vodafone Idea and Yes Bank fell out of favour during September. Mutual funds dumped 257.98 crore shares of the debt-ridden telco. Yes Bank saw mutual funds selling 6.1 crore shares in September.
In the small-cap segment, Garden Reach Shipbuilders and CDSL saw heavy selling in the month. Mutual funds sold 2.14 crore CDSL shares during the month, while GRSE saw mutual funds dumping 17 lakh shares.
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