Zomato, Kalyan, Vedanta, IndiGo, Axis Bank among top MF picks; here are stocks they sold in in August

Axis Bank Ltd, Zomato Ltd, InterGlobe Aviation Ltd (IndiGo), Kalyan Jewellers India Ltd, PB Fintech Ltd and Reliance Industries Ltd are among stocks that mutual funds (MFs) bought in August. Larsen & Toubro Ltd, Adani Energy Solutions Ltd, Vedanta Ltd, Wipro Ltd and ITC Ltd are among other stocks where the institutional class was net buyer in the month gone by. Domestic fund managers were seen selling shares of HDFC Bank Ltd, Bharti Airtel, Indus Towers, Coal India, Jio Financial Services and Oil India, among others, data compiled by Nuvama Institutional Equities showed.

Mutual funds were net buyers of Rs 35,600 crore worth equities. Foreign portfolio investors sold Rs 2,700 crore worth of stocks in the secondary market during the same period.

Data showed MFs bought 2.66 crore additional Axis Bank shares worth Rs 3,120 crore in August. They held 73.76 crore Axis Bank shares at the end of August against 71.11 crore shares in July. MFs owned Rs 2,740 crore worth shares in newly-debutant Ola Electric while they held Rs 2,550 crore worth Brainbees Solutions (FirstCry)shares.

In Zomato, MFs bought an additional 8.2 crore shares worth Rs 2,050 crore in August. They bought 42 lakh shares of IndiGo worth Rs 2,040 crore. Kalyan Jewellers (Rs 1,490 crore), L&T (Rs 1,460 crore), Kotak Mahindra Bank (Rs 1,360 crore), Shree Cement (Rs 1,350 crore) and Adani Energy (Rs 1,330 crore) are a few other stocks seeing higher MF interest.

MFs bought Rs 1,200 crore worth Infosys shares; they were net buyers of Rs 1,080 crore worth Wipro shares, Rs 880 crore ITC shares, and Rs 770 crore Vedanta shares.

On the flip side, fund managers sold Rs 8,370 crore worth HDFC Bank shares for the month. It was followed by Bharti Airtel (Rs 1,930 crore), Zydus Life (Rs 1,520 crore), Indus Towers (Rs 1,260 crore), Coal India (Rs 1,230 crore) and Dixon Technologies (Rs 1,180 crore). Sun Pharma, VST Industries and Shriram Finance were three other stocks seeing over Rs 1000 crore each in MF selling. Jio Financial saw MF selling Rs 380 crore worth shares.