Mutual fund managers continued to lap up shares of debutant companies in September with Aditya Birla Sun Life AMC and Vijaya Diagnostic making it to the portfolio of multiple mutual fund houses. According to data sourced by Edelweiss Alternative Research, fund managers deployed Rs 15 billion in IPOs, with the biggest chunk towards Vijaya Diagnostic. Fund houses invested nearly Rs 8 billion in the IPO of Vijaya Diagnostics. Further, mutual funds were seen increasing weightage in utilities, pushing it to a seven-month high, while decreasing the weightage of the telecom sector and private banks, analysts at Motilal Oswal highlighted.
Which stocks mutual funds bought in September
SBI AMC: Aditya Birla Sun Life AMC was the top buy for SBI Mutual fund, putting in Rs 80 crore in the freshly listed company, data sourced by ICICI Securities showed. AMI Organics was the second most purchased share by the fund house, pumping in Rs 53 crore into the stock. The other stocks bought by SBI Mutual Fund include Jindal Steel and Power, and Steel Authority of India, taking the value of both in the portfolio to nearly Rs 80 crore, followed by Max Healthcare Institute.
ICICI Prudential Mutual Fund: The fund house purchased shares of Aditya Birla Sun Life AMC during the previous month, taking the value of the stock in its portfolio to Rs 100 crore. The second most purchased stock by ICICI Prudential was the Indian Energy Exchange. Sonata Software, SBI Cards and Payment Services, and Manappuram Finance were the other three most purchased shares in September.
HDFC Mutual Fund: Aditya Birla Sun Life was the top bet made by the fund house in September adding 18 lakh shares of the company worth Rs 102 crore, according to ICICI Securities. The second most bought stock by HDFC AMC was Zee Entertainment Enterprises. Stuck in between investors and promoters, the media giant increased its weight in HDFC Mutual Fund’s portfolio to Rs 190 crore from Rs 46 crore earlier. Bharat Heavy Electricals, Adani Enterprises, and Escorts were the other stocks that saw the highest increase in weightage.
Aditya Birla Sun Life AMC: Amid its IPO, fund managers at Aditya Birla Sun Life AMC increased their holdings in HDFC AMC. The market value of HDFC AMC shares held by The fund house at the end of September was Rs 60 crore. Oil & Natural Gas Corporation, Oracle Financial Services Software, Bajaj Auto, and Canara Bank were the other stocks were Aditya Birla Suna Life AMC increased its shareholding.