SUMMARY
From Suzlon to Reliance Industries and TCS, India’s Mutual Funds exited these names in the month of September.
1 / 7Most fund managers have mentioned in the recent past that largecap stocks will see outperformance compared to the broader market names as they offer greater valuation comfort. But this latest list from Nuvama Alternative And Quantitative Research presents a mixed picture. While fund houses have increased stake in certain large caps, they have reduced stake in some, or have even made a complete exit from some Nifty 50 names. Here is a look at some names.
2 / 7HDFC Mutual Fund has cut its stake in stocks like Max Healthcare, Embassy Office Parks REIT and Zee Entertainment, while it has made a complete exit from names like IDFC and Sadbhav Engineering.
3 / 7Kotak Mutual Fund has cut its stake in stocks like Samvardhana Motherson, Bharat Forge and Nifty 50 heavyweight Reliance Industries, while it has made a complete exit from names like Zee Entertainment, Asian Paints and Ami Organics.
4 / 7Axis Mutual Fund has made a complete exit from PSU stocks like ONGC and NHPC, along with Petronet LNG. It has also trimmed its stake in Nifty heavyweights like TCS, Reliance Industries and Tata Motors.
5 / 7Poonawalla Fincorp is the only stock where Nippon India Mutual Fund has made a complete exit, while the fund has cut its stake in Nifty names like L&T, Bajaj Finance and broader market names like Aditya Birla Fashion.
6 / 7Quant Mutual Fund, which has been in the news recently, has made an exit from Nifty 50 names like TCS and Dr. Reddy’s, along with broader market names like Granules India.
7 / 7ICICI Prudential Mutual Fund has made a complete exit from an outperformer like Suzlon, along with Gulf Oil Lubricants and GNA Axles, while it is trimmed its stake in stocks like Reliance Industries, Lupin and Gujarat Gas.