Mutual funds cut stake in RIL, Infy & TCS to buy from varied sectors

Mutual funds were seen trimming stakes in the bluest of blue chips, namely Reliance Industries, Bharti Airtel, Infosys and TCS, among others, while they were seen buying into many catch-up plays from varied sectors.

Among them is Sona BLW Precision, a components manufacturer, where domestic fund managers bought an additional 3.62 crore shares to take the MF holding to 11.96 crore shares in August from 8.33 crore shares in July, valuing Rs 1,892 crore. This stock is down 27 per cent year-to-date.

Kotak Mahindra Bank, fund managers held 18.09 crore shares against 17.65 crore shares, up 44 lakh shares month-on-month (MoM). The change in value terms stands at Rs 845 crore. This scrip is up 5 per cent this calendar, underperforming BSE Bankex’s 13 per cent rise during the same period.

Mutual funds also bought shares of Max Healthcare, which was down 11 per cent till August. This scrip had seen a sharp rise in September that helped it cut year-to-date losses to 4 per cent. The additional 1.95 crore shares that MF bought in this healthcare company were valued at Rs 756 crore.