TCS, Infosys, Reliance Industries among top 20 stocks MFs bought in March; own any?

Mutual funds bought additional shares in a handful of large cap companies in March, a month that saw key indices consolidating and delivering flattish returns. These institutional investors bought beaten-down Infosys (Rs 2,520 crore), energy-to-telecom behemoth Reliance Industries (Rs 1,870 crore) and HDFC (Rs 1,380 crore), latest data available with Nuvama Institutional Equities showed.

Shares of Infosys tanked 25 per cent to Rs 1,427.70 for the financial year ended March 31, 2023. Reliance Industries dropped 11.50 per cent in FY23 while the country’s largest mortgage lender HDFC gained 10 per cent in the same period. The BSE Sensex gained 1 per cent in the comparable period.

HDFC AMC (Rs 1,330 crore), Hindustan Aeronautics (Rs 1,090 crore), Kotak Mahindra Bank (Rs 990 crore), Samvardhana Motherson (Rs 830 crore), Power Grid Corporation (Rs 780 crore), Tata Motors (Rs 760 crore), Tata Consultancy Services (Rs 630 crore), Tata Steel (Rs 610 crore), Bajaj Finance (Rs 610 crore) and Sun Pharma (Rs 570 crore) were among other major buys for mutual funds in the month gone by.

Tata Consultancy Services (TCS) on April 12 reported a 14.76 per cent year-on-year (YoY) rise in consolidated net profit at Rs 11,392 crore for the March quarter compared with Rs 9,926 crore in the same quarter last year. The Mumbai-headquartered IT giant reported a 16.94 per cent YoY jump in consolidated sales at Rs 59,162 crore compared with Rs 50,591 crore in the same quarter last year. The IT firm declared a final dividend of Rs 24 per share for FY23. Ahead of its quarterly results, shares of TCS settled the day at Rs 3,242.10, up 0.87 per cent. Infosys will announce its results on April 13.

On the other hand, mutual funds trimmed positions in UltraTech Cements by Rs 640 crore. They sold Rs 540 crore worth SRF shares and Rs 440 crore worth Max Healthcare Institute shares.

In the mid and smallcap space, domestic institutional investors added Sona BLW shares worth Rs 1,010 crore in March. They also lapped up Phoenix Mills (Rs 430 crore), Devyani International (Rs 270 crore), Kirloskar Oil (Rs 460 crore), Persistent Systems (Rs 370 crore), Data Patterns (Rs 320 crore) and Mahindra CIE (Rs 430 crore) last month.

Domestic institutional investors bought shares worth Rs 30,500 crore in March. Data further showed that mutual funds have been adding Reliance Industries, TCS, HDFC, Bharti Airtel and Kotak Mahindra Bank for the past three consecutive months.

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