Top five mutual fund (MFs) houses were seen entering a handful of shares in April, including the recent market debutants such as Bharti Hexacom and JNK India. Individual MFs exited positions in DCB Bank, Inox India, Hikal, Max Estates, Bajaj Consumer Care , IREDA and Nazara Technologies, among others, data compiled by IDBI Capital Markets showed.
SBI Funds Management, the largest fund by assets under management, bought Rs 396 crore worth 4,578,945 Bharti Hexacom shares in April. It also entered Arvind (7,49,000 shares worth Rs 23.60 crore) and Shipping Corporation of India Ltd (15,70,000 shares worth Rs 10.75 crore) in the month gone by.
SBI Funds Management exited its insignificant holdings Fusion Micro Finance (Rs 33.42 crore) and Inox India Ltd (Rs 10.75 crore). SBI Funds manages Rs 9,73,452 crore in total assets. Out of this, its equity portfolio is worth Rs 6,75,239 crore.
ICICI Prudential Asset Management Company manages Rs 7,62,322 crore in assets. Its equity asset at April-end stood at Rs 425,962 crore. This MF house bought Rs 189 crore worth Nirlon Ltd shares in April. It bought Rs 152 crore worth Bharti Hexacom shares, Rs 70 crore worth PSP Projects shares and Rs 27.24 crore worth Cyient DLM shares. Kesoram Industries Ltd, Paradeep Phosphates, J Kumar Infraprojects and Gufic Biosciences are some other stocks that this MF house entered last month.
ICICI Prudential Asset Management Company exited DCB Bank, SP Apparels, Hikal, Max Estates, Bajaj Consumer Care and Innova Captab Ltd by selling insignificant stakes.
HDFC Asset Management Company entered three stocks Bharti Hexacom (Rs 229 crore), JNK India (Rs 77 crore) and Technocraft Industries (India) and exited Johnson Controls-Hitachi Air Conditioning.
Nippon Life India Asset Management, which has AUM of Rs 4,73,315 crore and equity assets of Rs 3,12,247 crore entered Bharti Hexacom (Rs 68 crore) and JNK India (Rs 41 crore) and exited Nazara Technologies (Rs 70 crore).
360 One Wam (Rs 168 crore) and Marksans Pharma (Rs 7.46 crore) were among Kotak Mahindra AMC’s two enteries in April. The other two were Bharti Hexacom (Rs 919 crore) and JNK India (Rs 146 crore). This MF exited positions in Archean Chemical Industries, Sona BLW Precision Forging, Tata Technologies and IREDA, among others.
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