Nearly Rs 5 lakh crore of mutual fund money riding on these 10 stocks

Mutual fund managers have placed heavy bets totaling around Rs 4.75 lakh crore on 10 stocks which includes Nifty heavyweights ICICI Bank, HDFC Bank, Infosys and Reliance Industries, shows latest data.

The top 10 most popular stocks among mutual fund managers comprise about 35% of the industry’s equity assets under management (AUM).

Topping the list is private lender ICICI Bank. Domestic fund managers have placed bets worth Rs 1.4 lakh crore on the stock, worth 6.7% of industry’s equity AUM.

The second most popular stock among domestic MFs is India’s largest private sector lender HDFC Bank, on which Rs 1.16 lakh crore is riding. Infosys, on the other hand, is not just the third largest bet but also the only IT stock to feature in the top 10 list. MFs have placed bets worth Rs 90,577 crore.