Mutual funds (MFs) continued to lap up HDFC Bank and other major banking sector stocks in July.
With a deployment of Rs 2,720 crore in July, MFs’ total investment in HDFC Bank in calendar year 2024 (till now) surged to Rs 48,820 crore, shows a report by Nuvama Alternative & Quantitative Research.
The investment is the aggregate of total net deployment by active equity, passive and equity-oriented hybrid schemes.
Other top buys in the banking space include Axis Bank and State Bank of India. Vedanta, ITC and Asian Bank were also among the most-bought stocks last month.
Among smallcap companies, MFs lapped up shares of PNB Housing, Jyoti CNC Auto, Emcure Pharma, Sobha and Piramal Enterprises, shows the report.
Bulking up: Banks dominate MFs’ buy list
Source: Nuvama Alternative & Quantitative Research
Note: During two-month period (August and September); **At October 12 closing price
First Published: Aug 15 2024 | 12:42 AM IST
