Top stocks bought and sold by mutual funds in May; Adani Total Gas, HDFC Life, Kotak Bank, Hindustan Zinc, more

Indus Towers, Adani Total Gas, Tata Elxsi, HDFC Life Insurance, JSW Steel and Nykaa were the top large-cap buys in the equity portfolio of various mutual funds in India during the month of May. The funds offloaded significant portions of their stakes in Kotak Mahindra Bank, Torrent Pharmaceuticals, Hindustan Aeronautics, Hindustan Zinc and Macrotech Developers during the same time period. The top holdings of mutual funds are ICICI Bank, HDFC Bank, Reliance Industries, and Infosys.

Buying and selling in mid-cap shares

Mutual funds displayed strong interest in mid-cap stocks during May. Vedant Fashions stood out with a significant rise in market value of the shares held by mutual funds went from Rs 2,752 crore in April to Rs 4,039 crore in May. Other favored mid-cap stocks included Vodafone Idea, Clean Science and Technology, Colgate-Palmolive (India) Aditya Birla Capital, Coforge, Laurus Labs, Piramal Enterprises, IDFC First Bank, and PB Fintech. 

Indian Railway Finance Corporation was the most offloaded mid-cap company across mutual funds. The number of equity shares held dropped to 9.78 crore in May from 14.15 crore in April, with the value of the shares falling to Rs 315 crore from Rs 449 crore in April. Max Healthcare Institute shares were also sold enmasse, as mutual funds offloaded 4.16 crore shares in May. SAIL, Union Bank of India, Sona BLW Precision Forgings, Bandhan Bank, IHCL, Aditya Birla Fashion and Retail, Kansai Nerolac Paints and Tata Chemicals were among the top 10 sells in the mid-cap sector. 

Buying and selling in small-cap shares

Jupiter Wagons was added to various funds’ holdings in May. Astra Microwave Products saw the greatest rise from April to May, with funds holding Rs 209 crore of the scrip’s shares, compared to Rs 2 crore from the month-ago period. HEG, Globus Spirits, Mazagon Dock Shipbuilders, Ujjivan Financial Services, JTEKT India, Graphite India, Amara Raja Batteries and Marksans Pharma were the top small-cap additions. 

Mutual funds sold shares of new-age tech company Easy Trip Planners, with the shares held falling to 71 lakh in May from 1.15 crore in April. Railtel Corporation of India and Nocil also saw a partial exit from the funds’ portfolios. Other small-cap companies that saw their equity held by mutual funds reduce were Nocil, Time Technoplast, Mastek, Matrimony.Com, Manappuram Finance, Route Mobile, Gujarat Narmada Valley Fertilizers & Chemicals and Elin Electronics.