Zomato, Adani Total Gas, Tata Elxsi among largecap shares that MFs bought in May

Mutual fund (MF) houses were seen buying shares of many largecap companies including Adani Total Gas, Zomato, Tata Elxsi, FSN E-Commerce Ventures (Nykaa) and HDFC in May while they were seen trimming stakes to stocks such as Kotak Mahindra Bank (KMB), Life Insurance Corporation of India (LIC) and Hero MotoCorp, among others.

Domestic fund managers increased stake in Indus Towers to 3.86 crore shares in May from 1.31 crore shares in April. They held Rs 6,593 crore worth Indus Towers shares at May end against Rs 203 crore at April end, a report compiled by ICICIdirect suggested.

In the case of Adani Total Gas, mutual funds upped holding to 1.3 crore shares from 1.10 crore shares a month ago. Mutual fund managers managed Rs 89 crore worth Adani Total Gas shares as on May 31 against Rs 97 crore as on April 30.

In Tata Elxsi, MF holding value jumped to Rs 1,051 crore from Rs 755 crore, as they upped stake to 1.4 crore shares from 1. 1 crore shares a month ago.

HDFC Life Insurance (to Rs 5,722 crore from Rs 4,126 crore), JSW Steel (to Rs 3,233 crore from Rs 2,942 crore), Nykaa (to Rs 2,841 crore from Rs 2,498 crore) and Zomato (to Rs 4,785 crore from Rs 4,043 crore) were among other stocks that MFs bought in the month gone by.

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Largecap stocks such as UPL, HDFC and Hindalco Industries also saw MF buying last month.

Mutual funds trimmed exposure to Kotak Mahindra Bank. They managed Rs 36,980 crore worth KBM shares against Rs 40,772 crore on month-on-month basis, as they cut stake to 18.38 crore shares from Rs 21.04 crore shares.

Torrent Pharmaceuticals saw fund managers trimming stake to Rs 3,446 crore from Rs 3,481 crore. Hindustan Aeronautics (to Rs 8,315 crore from Rs 8,629 crore), Hindustan Zinc(to Rs 889 crore from Rs 1,153 crore) and Macrotech Developers (to Rs 501 crore from Rs 467 crore) also saw MF selling in May.

Eicher Motors, Life Insurance Corporation of India, Hero MotoCorp, Indian Oil Corporation and Pidilite Industries were some other largecap stocks where MFs reduced stakes to in May.