Top smallcap stocks mutual funds bought most last month
Mutual funds (MFs) participated enthusiastically in the recent Zomato, GR Infra, Tatva Chintan Pharma IPOs
The inflows into equity mutual funds in July surged to a record high as the equity schemes received a net ₹22,583 crore, a meaningful jump from ₹5,988 crore received in June. A sizeable portion of flows were also due to new fund offers (NFOs) as funds collected ₹13,700 crore. Interestingly, the Systematic Investment Plans (SIP) flows continued to rise and came in at a record high at INR 9,609 crore compared to ₹9,155 crore in the previous month.
Mutual funds (MFs) participated enthusiastically in the recent initial public offerings (IPOs) of Zomato, GR Infra, Tatva Chintan Pharma. Major additions by the industry were Zomato, HDFC Bank, ICICI Bank, Bajaj Fin NMDC whereas major reductions were Infosys, Kotak Mahindra Bank and Grasim Industries.
The top stock buys in smallcap space by asset management companies (AMCs) includes companies like Equitas Holdings, Alicon Castalloy, Nazara Technologies, DFM Foods, Amber Enterprises, Jindal Stainless, Arvind, Gokaldas Exports, Indiabulls Real Estate, DCB Bank, Zensar Tech, Aster DM Health, Can Fin Homes, Mahindra CIE, Avanti Feeds, CreditAccess Grameen, the data showed.
Meanwhile, Edelweiss Financial Services, KPIT Tech, JK Cement, Prince Pipes, Century Textiles, Allcargo Logistics were some of the top sells by the mutual funds during the month under review, showed analysis by brokerage firm Edelweiss.
The inflow pushed assets under management (AUM) of the mutual fund industry to an all-time high of ₹35.32 lakh crore in July-end from ₹33.67 lakh crore in June-end. Barring, equity linked saving schemes (ELSS) and value fund, which saw withdrawal to the tune of ₹512 crore and ₹462 crore, respectively, all the equity schemes witnessed inflow last month.
As stock markets continued to score record highs, defying talks of elevated valuations, net inflows into equity mutual fund schemes galloped to a new high in July, rising almost six times in a month.
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