Mutual Funds' houses top picks in feb; Swan Energy, Voltas Ltd, Federal Bank, IEX
In February, mutual funds (MFs) in the Indian equity market demonstrated distinct trading patterns, with certain stocks witnessing heightened selling pressure while others attracted significant buying interest.
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In February, mutual funds (MFs) in the Indian equity market demonstrated distinct trading patterns, with certain stocks witnessing heightened selling pressure while others attracted significant buying interest.
Among the stocks experiencing selling pressure from MFs were Bandhan Bank, One 97 Communications Ltd (Paytm), LIC Housing Finance, Bata India, and Biocon. Conversely, MFs showed a strong inclination towards purchasing shares of Swan Energy, Voltas Ltd, AU Small Finance Bank, Federal Bank, and Indian Energy Exchange (IEX).
Mutual funds collectively injected approximately Rs 14,300 crore into equities during the month, signaling an optimistic sentiment. In contrast, Foreign Portfolio Investors (FPIs) were net sellers, withdrawing Rs 740 crore from the secondary market.
Midcap stocks particularly caught the eye of MFs, with significant investments seen in companies like Whirlpool of India, where MFs acquired Rs 3,070 crore worth of shares. Institutional investors also displayed interest, purchasing Rs 950 crore worth of shares in Swan Energy and Rs 880 crore worth of shares in Voltas.
Furthermore, noteworthy buying activity was observed in stocks such as Max Financial (Rs 550 crore), Jubilant Foodworks (Rs 510 crore), and Devyani International (Rs 500 crore). MFs allocated substantial funds ranging from Rs 200 to Rs 500 crore in stocks like AU Small Finance Bank, Minda Corp, Data Patterns, Dixon Technologies, Federal Bank, MCX, Ajanta Pharma, and IEX.
On the selling side, MFs reduced their holdings in stocks like Bandhan Bank and Paytm, selling 3.3 crore and 1.17 crore shares, respectively. Other stocks experiencing selling pressure included Motherson Sumi Wiring, LIC Housing Finance, Bata India, and Biocon.
It's essential for readers to recognize that the provided information serves informational purposes exclusively and does not constitute investment advice. It's advisable to consult with a qualified financial advisor before making any investment decisions.
