As equity linked mutual funds schemes witnessed net inflows for the first time in nine months in March, Yes Bank, SBI Cards and Payment Services, and Havells India Ltd were among the the top bought stocks in large cap by mutual funds last month.
Equity funds saw inflows for the first time in nine months at Rs 9,100 crore. The outflow trend seems to have reversed as matured investors are likely to invest at every lower level, said a report by ICICI Direct.
Further, SIP contributions rose to all-time high at Rs 9,182 crore in March 2021 with SIP account additions also up to all-time high in March 2021 with higher average ticket size, it added.
The holding of mutual funds in Yes Bank stood at 7.26 crore shares at the end of March 2021, with a market value of Rs 82 crore, up from 3.51 crore shares in February with a value of Rs 17 crore, showed the ICICI Direct report.
Similarly, mutual funds held 4.04 crore shares in SBI Cards and Payment Services with a market value of Rs 3,751 crore at the end of March 2021, against 3.13 crore shares with value of Rs 3,349 crore in the previous month.
MF holding in Havells India was valued at Rs 1,442 crore at March-end against Rs 1,298 crore in February.
HDFC Asset Management Company, Godrej Consumer Products, Bajaj Holdings & Investment, Bajaj Auto, Indraprastha Gas, Tata Consumer Products, and Jubilant FoodWorks were the other top bought large cap stocks by asset management companies (AMC).
On the other hand, the top large cap stocks sold by AMCs were Vedanta, GAIL, Oil & Natural Gas Corporation Ltd (ONGC), Hindalco Industries, and Adani Green Energy.
Among the midcap stocks, the top bought stocks by AMCs were Wabco India, Max Healthcare Institute, Tata Communications, Granules India, and L&T Finance Holdings.
The top sold stocks were TVS Motor Company, Vodafone Idea, LIC Housing Finance, Motilal Oswal Financial Services, and Amara Raja Batteries.
Hathway Cable & Datacom, Varroc Engineering and Sterling & Wilson Solar were the most bought stocks by mutual funds among the small cap stocks, while Mahindra Lifespace Developers, Ashiana Housing, and IDFC Ltd were the top sold small cap stocks in March among the MFs, showed the report.