Fund houses took fresh exposures to real estate, and pharmaceutical stocks in April. Last month, when the Sensex and Nifty rose 3.59% and 4.06%, respectively, Nifty Realty and Nifty Pharma jumped 13% and 4% respectively.
Data shows that fund managers bought into prominent realty companies such as DLF, Prestige Estates, and Godrej Properties. In the pharmaceutical sector, attractive valuations drove fund managers to add stocks such as Alkem Laboratories, Ajanta Pharma, Mankind Pharma, and Dr Reddy’s Laboratories.
Mutual funds remained mixed on their holdings in IT and banking sectors in the month of April. Axis Mutual Fund, Canara Robeco MF, sold Infosys stock, while Aditya Birla SL MF, SBI Mutual Fund bought the IT stock.
ICICI Prudential Mutual Fund, Nippon India Mutual Fund bought Reliance Industries stock in April, while Kotak Mutual Fund sold Reliance shares last month.
While Kotak MF exited Bikaji Foods and Prudent Corporate, SBI MF completely exited from SBI Cards. ICICI Prudential exited Vedanta, GAIL, and Manappuram Finance. Meanwhile, HDFC MF exited Rolex Rings, Mirza International stocks.
PNB Housing Finance, Hitachi Energy India, and Esab India were Nippon India MF's fresh buys, while Kotak MF bought ONGC and Can Fin Homes shares in April. DSP Mutual Fund freshly bought Godrej Properties and SAIL stocks.
Mankind Pharma is the top new bet of HDFC Mutual Fund as it bought 4,82,000 shares of the company in April. Its other top new investments include Avalon Tech, GHCL Textiles, and NMDC Steel.
Sagar Cement is the new top bet of ICICI Prudential Mutual Fund, as it bought 60,40,000 shares of the company in April. Its other top new investments include Mankind Pharma, Paradeep Phosphates, and Kalyani Steels.
SBI Mutual Fund's top new investment is Mankind Pharma. It bought 4,82,000 shares of the company in April. Other top new bets include Eris Lifesciences. Mankind Pharma is also the top new pick of Kotak MF, as it bought 3,89,000 shares of the company. Its other top new holdings include Redington and Redico Khaitan.
CreditAccess Grameen is the new top pick of Axis Mutual Fund, as it bought 8,13,000 shares of the company in April. The AMC's other top new holdings include Mankind Pharma, Paytm, and RBL Bank.
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