MFs also participated in the IPO party with Reliance Petroleum, Kamdhenu Ispat, and Plethico Pharmaceuticals being the most bought ones. In terms of value, Reliance Industries, SBI, and ITC were the top purchases by MFs, while L&T, Century Textiles, and Ranbaxy topped the sell list.
A study of the top ten mutual funds' equity portfolios, accounting for 74 per cent of the total assets managed by the fund industry as on May 31, which are UTI, Prudential ICICI, HDFC, Templeton, Reliance, SBI, Birla SunLife, Kotak, DSP ML, and HSBC reveals that nine out of the ten MFs added to their investments in the FMCG heavyweight ITC. Pru ICICI MF was the top buyer of the stock with almost 25 lakh shares bought. However, Birla MF pared exposure to the stock. Among other FMCG stocks, Eveready Industries, and Hindustan Lever were among the top 100 buys, while Emami, Dabur, and P&G were among the top sells.
|Top shares traded by MFs (based on volume)|
|Top 5 shares bought||No. of Shares|
|Reliance Natural Resources||9,748,985|
|Bank of Baroda||6,192,393|
|Top 5 shares sold||No. of Shares|
|Steel Authority of India||3,956,084|
|Centurion Bank of Punjab||2,115,347|
Among the IPOs that listed in May, mutual funds bought over 43 lakh shares of Reliance Petroleum, with SBI MF being the top buyer as it bought over 31 lakh shares. HDFC, Pru ICICI, and UTI MF also invested in the Reliance Petroleum IPO. Kotak, and Pru ICICI MF invested heavily in Kamdhenu Ispat with a total of over 22 lakh shares bought. Pru ICICI, HSBC, and UTI MF invested in Plethico Pharmaceuticals IPO with over 10 lakh shares bought.
|Top shares traded by MFs (based on value)|
|Top 5 shares bought||Value (Rs in cr)|
|State Bank of India||244.11|
|Satyam Computer Services||189.67|
|Hero Honda Motors||171.20|
|Top 5 shares sold||Value (Rs in cr)|
|Larsen and Toubro||102.25|
|Century Textiles and Industries||68.02|
|Steel Authority of India||31.53|
Auto stocks Ashok Leyland, M&M, Hero Honda, TVS Motor, and Tata Motors were among the top buys, while Munjal Auto, Sona Koyo, and Gabriel India were sold. Media stocks Zee, INOX Leisure, PVR, Shringar Cinemas, and Deccan Chronicle were bought, while Jagran Prakashan, and Pritish Nandy were among the top sells. In the telecom pack, MTNL, Bharti Airtel, and ITI were among the top buys, and Reliance Communication Ventures was sold.
Selling was seen in metal stocks Sail, Hindalco, Godawari Power & Steel, Visa Steel, and Hindustan Zinc, while Tata Steel, Sterlite Industries, Usha Martin were among top buys. Power pivotals NTPC, Reliance Energy Ventures, Tata Power, and Reliance Energy were also sold, while Reliance Natural Resources, and Neyveli were bought.
Among the IT pivotals, Satyam, Infosys, TCS, and Wipro were bought, but heavy selling was seen in HCL Technologies. Among chemical stocks, GSFC, Aarti Industries, and Rain Calcining topped the buy list, while Gulf Oil, Tata Chemicals, and Chambal Fertilisers were among the top sells.For more on mutual fund action in the market, click here