mutual funds | Stocks: Shares bought by 3 Indian mutual funds last month. Should you follow smart money? | Rare Techy

NEW DELHI: Apart from some newly-listed companies, new-age stocks Zomato and Delhivery were also on the list of top three Indian mutual fund houses in October as investors poured about Rs 9,400 crore into various equity schemes. .

Money managers added weight to banks, technology, oil and gas, capital goods, and services, while moderated weight to consumer, NBFCs, auto, healthcare, retail, chemicals, telecom, consumer staples, and textiles, a report shows. .

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While the weighting of private sector banks stocks increased by 18.7% in 20 months, the weighting of PSU banks reached a 32-month high of 3.7%.

During the month, mutual funds bought equivalents of Rs 6,317.63 crore. Here’s what India’s top 3 AMCs bought in October:

SBI MF
India’s largest AMC SBI Mutual Fund, which has equity investments worth about Rs 4.5 billion, added stakes in Voltas,

, , , Marico, among others, during the month. Heavyweights ICICI Bank, RIL and HDFC Bank remain the top three shareholders of SBI Mutual Fund.

During the month, SBI MF also picked a total of four new stocks – Global Health, GRSE, RITES and Astral –

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MF
The Rs 2.4 billion asset management company bought shares in , , , Canara Bank, Zomato and Delhivery.

In October, MF invested in newly-listed Tracxn Technologies at the same time it exited Aarti Industries.

HDFC MF
HDFC MF picks shares in Delhivery, BHEL, SRF,

and last month. It also increased stake in two Tata Group firms – and Tata Power.

New picks by the fund house include the newly-named DCX Systems, Electronics Mart,

and GNFC. There are complete exits, NMDC, and SAIL.

What should investors do?
While looking for stocks based on which smart money, or institutional investors are betting on them, investors should remember that the time horizon, risk appetite, investment objective and portfolio allocation of mutual funds vary and hence the results. can also be different.