Suzlon Energy, IREDA, Tata Technologies, SBI shares: MFs bought, sold these shares in Nov

Bajaj Finance Ltd, Kotak Mahindra Bank Ltd, Tata Technologies Ltd, Petronet LNG Ltd and IREDA Ltd were among stocks that mutual funds (MFs) bought the most in November. HDFC Bank Ltd, TVS Motor Ltd, State Bank of India Ltd (SBI), Infosys Ltd and Suzlon Energy Ltd were among stocks on fund managers' sell cart, data showed.

The month was marked by resilience in domestic stocks , with benchmark indices reaching new highs despite premium valuations and modest FIP inflows. Equity mutual funds (growth schemes) witness a net inflow of about Rs 15,500 crore, contributing to a substantial Rs 95,800 crore inflow from April to November.

Data showed mutual funds bought Rs 4,100 crore worth 58 lakh Bajaj Finance shares, as they upped their holding in the NBFC to 6.03 crore shares in November from 5.45 crore shares in October. In Kotak Mahindra Bank, funds bought Rs 1420 crore worth Rs 81 lakh additional shares in November. The domestic institutional investors held 20.98 crore Kotak Bank shares at November end against 20.17 crore shares at October end.

Mutual funds were upbeat on recent debutant Tata Technologies. At the end of November, MFs owned Rs 1,120 crore worth 85 lakh Tata Technologies shares. Petronet LNG was another stock where MF monthly buying exceeded Rs 1,000 crore mark.

IREDA (Rs 760 crore), Power Grid (Rs 670 crore), Aurobindo Pharma (Rs 610 crore), Tata Motors (Rs 560 crore) and Tata Power (Rs 530 crore) were some other stocks that domestic fund managers increased stakes to, in November.

On the flip side, funds sold Rs 4,690 crore worth 3.01 crore HDFC Bank shares, as they cut their holding in the private lender to 126.75 crore shares in November from 129.76 crore shares in October. In TVS Motor, funds sold Rs 2,470 crore worth Rs 1.33 crore additional shares in November. The domestic institutional investor category held 7.58 crore TVS Motor shares at November end against 8.91 crore shares at October end.

Bharti Airtel saw Rs 1,980 crore in MF selling in November. It was followed by Infosys (1790 crore), Axis Bank (Rs 1,620 crore), NTPC (Rs 1,490 crore), Maruti Suzuki (Rs 1,470 crore), Coal India (R 1,450 crore) and Sun Pharma (Rs 1,350 crore). Bank of Baroda Ltd (Rs 1,250 crore), Polycab India (Rs 1,100 crore) and Suzlon Energy (Rs 1,090 crore) were some other stocks where MFs reduced stakes in the month gone by.

The monthly inflows for the November month hit an all-time high of Rs 17,070 crore. This remarkable 25 per cent growth since December 2022 and a 50 per cent increase from December 2021 showcase sustained investor confidence, defying market highs, Nuvama Institutional Equities said in a note.

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