Indian mutual funds loaded up on HDFC Bank, Kotak Mahindra in May

Go Digit General Insurance

12/06/2024 05:57

** Top Indian mutual fund bought 76 bln rupees ($909.6 mln)
worth of HDFC Bank  HDBK.NS  stock in May, Nuvama Alternative &
Quantitative Research said in a note
    ** They also bought 32.10 bln rupees in Kotak Mahindra Bank
 KTKM.NS  stock and 29.3 bln rupees in Reliance Industries
 RELI.NS , Nuvama said
    ** Reliance, HDFC Bank, Infosys  INFY.NS , Hindustan Lever
 HLL.NS  and Maruti Suzuki  MRTI.NS  were key additions for
Indian MFs over past three months - Nuvama
    ** Overall, in May, mutual funds bought stocks worth 477 bln
rupees and, alongside FIIs, sold 304 bln rupees worth shares in
Indian secondary market, Nuvama said
    ** Among midcaps, Indian funds bought 11.7 bln rupees worth
Go Digit Insurance  GODG.NS  shares from its IPO, Nuvama said
    ** Bajaj Finance  BJFN.NS , Hindustan Aeronautics  HIAE.NS 
were among top reductions across fund houses, Nuvama said
    ** HDFC Bank gained nearly 1% in May and Kotak rose 3.5%,
while Reliance dropped 2.5%

($1 = 83.5570 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))