September Mutual Fund Activity: A Comprehensive Look at Share Purchases and Sales
Mutual Fund
In September, mutual funds were actively engaged in the financial markets, making substantial purchases and sales of various shares.
The data from the Association of Mutual Funds in India (AMFI) indicated a surge in investments through Systematic Investment Plans (SIP), with inflows totaling an impressive Rs 16,402 crore.
This record-breaking figure surpassed the previous month’s record of Rs 15,814 crore, indicating a growing interest in mutual fund investments.
Let’s delve into the detailed investment activities of some of the major mutual fund houses during the month of September.
1. HDFC Mutual Fund:
HDFC Mutual Fund exhibited robust investment activity in September. The fund house made substantial purchases of shares from various companies.
Notably, it acquired Reliance Industries shares worth Rs 949 crore, reflecting confidence in the diversified conglomerate.
Additionally, HDFC Mutual Fund invested significantly in Kotak Mahindra Bank, with purchases amounting to Rs 691 crore.
This indicated a favorable outlook for the banking sector. Furthermore, the fund allocated Rs 561 crore to HDFC Bank shares, strengthening its presence in the banking and financial sector.
On the selling front, HDFC Mutual Fund offloaded shares worth Rs 330 crore of Larsen & Toubro (L&T), demonstrating a repositioning of its portfolio.
It also divested approximately Rs 307 crore of Power Finance Corporation shares and about Rs 205 crore of Jio Financial Services shares.
Notably, the fund house reshaped its portfolio by introducing new shares, such as Aditya Vision and JSW Infra. In contrast, Hinduja Global exited the portfolio entirely by selling its entire stake.
2. SBI Mutual Fund:
SBI Mutual Fund was another significant player in the market during September. The fund house’s investments focused on key sectors and companies.
The largest purchase during the month was in HDFC Bank shares, with an investment of Rs 1,296 crore, underlining the fund’s confidence in the banking giant.
Additionally, SBI Mutual Fund allocated Rs 877 crore to ICICI Bank shares and Rs 464 crore to Infosys shares, reinforcing its presence in the banking and IT sectors.
Conversely, the fund house engaged in substantial selling activities during September. It divested shares worth Rs 1,736 crore in Jio Financial, reflecting a strategic portfolio shift.
The fund also offloaded shares worth Rs 805 crore of NHPC and Rs 529 crore of L&T. SBI Mutual Fund introduced new positions in shares of Sai Silks and VRL Logistics, demonstrating its adaptability to emerging opportunities.
In terms of exits, Camlin entirely exited the portfolio, divesting its holdings.
3. Kotak Mutual Fund:
Kotak Mutual Fund actively participated in the stock market in September, with a diversified portfolio strategy.
The fund house made notable purchases, including shares worth approximately Rs 418 crore of NTPC, Rs 330 crore of Reliance Industries, and Rs 285 crore of IndusInd Bank.
These investments indicated a balanced approach, targeting companies from various sectors.
On the selling front, Kotak Mutual Fund divested shares worth Rs 255 crore of Adani Enterprises, and around Rs 210 crore each of Infosys and L&T shares.
The fund’s selling activities showed a strategic repositioning of its portfolio. Kotak Mutual Fund introduced new positions in the shares of RR Cable and Voltamp Transformers, reflecting its flexibility in exploring new opportunities. The fund also exited Happiest Minds Tech.
4. Axis Mutual Fund:
Axis Mutual Fund displayed a dynamic investment approach in September. The fund house made targeted purchases, investing Rs 73 crore each in Maruti Suzuki and Tata Motors shares.
Additionally, Axis Mutual Fund allocated Rs 108 crore to Jio Financial shares, indicating a preference for emerging opportunities.
On the other hand, Axis Mutual Fund reduced its stakes in Kotak Mahindra Bank, HDFC Bank, and ICICI Bank.
These reductions might have been part of a broader portfolio optimization strategy. The fund introduced new shares in RR Cable and RR Financial Holdings, showcasing its interest in diverse sectors.
Axis Mutual Fund completely exited from TTK Prestige, which could be seen as a strategic decision to divest from specific holdings.
5. Nippon India Mutual Fund:
Nippon India Mutual Fund adopted a proactive investment strategy during September. The fund house made new additions to its portfolio, including Shella Foam, PG Electroplasts, and Grasim Industries.
These investments reflected a focus on emerging sectors and growth opportunities. Nippon India Mutual Fund also made significant purchases in Hindustan Unilever and ITC, highlighting its interest in large-cap stocks.
Among its top holdings, Nippon India Mutual Fund featured prominent companies such as HDFC Bank, ICICI Bank, and L&T.
These holdings indicated a preference for established and stable companies in its portfolio. On the divestment side, the fund completely exited shares of JSW Steel, NHPC, and BPCL, suggesting a strategic move away from these holdings.
These detailed insights provide a comprehensive overview of the investment activities undertaken by prominent mutual fund houses in September.
It’s important to note that mutual fund investment strategies can vary based on market conditions, economic outlook, and fund objectives.
Investors should carefully consider their own financial goals and risk tolerance when making investment decisions.
