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Here are the stocks that fund managers blew hot and cold on

The mid-cap and small-cap space in stock markets is not always the safest for investors to be in, but its constituents promise to be amongst the top gainers and that is their biggest draw. Whether it is a novice investor, or a veteran fund manager, the lure is irresistible as the returns can be fabulous, after all, there could be an Infosys or a Bharti Airtel lurking in there somewhere. But then, they could just as well be total losses too, when the markets retreat.

We take a look at some of the stocks in these two segments that fund managers bought into and those that they shed.

The markets were not in a very healthy state of affairs in October as is clear from the BSE Sensex dipping 7.18 per cent, as did BSE Mid-Cap (4.9%) and Small-Cap (7%).

United Phosphorus stock became the most-sold stock in this segment of the market. The shares that were offloaded added up to a mammoth 100.92 lakh shares, worth Rs 161.59 crore.

The fund that sold the most number of the company’s stock was HDFC Tax Saver, offloading 22.15 lakh shares, while Kotak Opportunities sold 10.01 lakh shares. Four funds added the stock to their portfolio in October, while 17 pulled out of it.

The second stock to witness mass-scale sell-off was Shriram Transport Finance. 41.49 lakh shares amounting to Rs 160.41 crore were offloaded, with Reliance Growth being the top seller at 41.40 lakh shares. Just one fund added the stock to its portfolio while four opted out of it.

The most-bought stock in the segment was that of Bajaj Hindustan at 88.16 lakh shares amounting to Rs 179.62. Reliance Natural Resources Retail bought the maximum number at 39.07 lakh shares. Birla Sun Life Enhanced Arbitrage Retail was the biggest offloader at 5.50 lakh shares. Ten funds added the stock in their portfolio while two pulled out of it.

HCL Infosystems witnessed 87.82 lakh shares being bought for a consideration of Rs 142.44 crore. Reliance Equity Opportunities, Sundaram BNP Paribas Select Midcap and ICICI Prudential Tax Plan were the three top funds that bought the maximum shares – 19.48 lakhs, 16.68 lakh and 14.61 lakh respectively. Altogether 12 funds added the stock to their portfolios while one puled out.

Bought Stocks
  Worth of Shares Bought (Rs Cr)  Shares Bought (lakhs)
Mid Cap    
Bajaj Hindusthan  179.62 88.16
H C L Infosystems  142.44 87.82
Punj Lloyd  106.61 41.19
Great Eastern Shipping Company  99.86 36.13
HT Media  91.15 71.68
Sold Stocks
  Worth of Shares Sold (Rs Cr)  Shares Sold (lakhs)
Mid Cap    
United Phosphorus  -161.59 -100.92
Shriram Transport Finance Co.  -160.41 -41.49
Areva T&D India  -146.80 -47.02
Idea Cellular  -128.02 -206.42
Indiabulls Real Estate  -111.45 -40.60
Data between Sep 09 - Oct 09

Small Caps
The sell-off hit Voltamp Transformers stocks the most as 7.59 lakh shares worth Rs 61.60 crore were offloaded. The fund that dumped the most shares was Reliance Diversified Power Sector (Retail) at 7.65 lakh. It was also the only fund that opted out of the stock in October.

Apollo Tyres came next with 52.21 lakh shares being sold amounting to Rs 25.53 crore. Reliance Tax Saver offloaded the maximum at 47.10 lakh shares, while Kotak Opportunities and HDFC Prudence offloaded 18.24 lakh and 12.05 lakh shares respectively. Nine funds added this stock to their portfolios, while four funds opted out of it.

At the other end of the spectrum, Bajaj Electricals became the most-popular stock in the segment. Funds bought 9.66 lakh shares amounting to Rs 71.54 crore. Reliance Diversified Power Sector bought the most at 9.03 lakh shares. Two funds added this stock to their portfolios, while one exited.

Bought Stocks
  Worth of Shares Bought (Rs Cr)  Shares Bought (lakhs)
Small Cap    
Bajaj Electricals  71.54 9.66
Allied Digital Services  39.15 8.27
Gayatri Projects  34.91 10.00
Polaris Software Lab  34.78 22.39
Emco  33.57 34.63
Sold Stocks
  Worth of Shares Sold (Rs Cr)  Shares Sold (lakhs)
Small Cap    
Voltamp Transformers  -61.60 -7.59
Apollo Tyres  -25.53 -52.21
Prism Cement  -16.38 -34.50
Everest Kanto Cylinder  -14.67 -7.57
Dena Bank -14.05 -20.33
Data between Sep 09 - Oct 09