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The Chosen Ones

Changing Preferences in Large Cap Stocks

The assets of mutual fund industry reached record highs in November which was followed by inflow, though not a huge amount, into funds.

FII’s invested Rs 5,497 crore in November while the mutual funds were net sellers of Rs 695.60 crore. In such a situation, we looked at the large-cap stocks that lured the fund manager and which ones were being offloaded.

Most Sold

SBI

SBI was again among the top most sold stocks. Last month it saw a sell-off of Rs 416.16 crore, this month funds offloaded 17.54 lakh shares worth Rs 399.89 crore. Reliance Equity offloaded the maximum of 2.24 lakh shares while Magnum Taxgain remained the second after offloading 2 lakh shares. 65 out of the total 193 funds reduced there are holding on to the stock offloaded in the month. A total of six funds added this stock in its portfolio while an equal number of them opted out of it. The stock prices of SBI gained 2.15 per cent in November.

ONGC

Following SBI, was Oil and Natural Gas Corporation which witnessed funds offloading 31.63 lakh shares worth Rs 368.69 crore. Franklin India Flexi Cap offloaded the maximum of 6.39 lakh shares while DSPBR Top 100 Equity Regular offloaded 3.10 lakh shares. HDFC Equity bought the maximum 4.03 lakh shares. Altogether 205 funds are holding this stock. Eight funds added this stock in its portfolio while 11 opted out of it. ONGC stock prices gained 5.86 per cent.

Reliance Industries

Biggest company by market capitalisation, Reliance Industries which remained at the top last month as far as amount of shares offloaded was concerned, this month again was among the top five sold stocks. However it witnessed less offloading this month. It saw offloading of 19.03 lakh shares worth 197.72 crore. Here as well it was Franklin India Flexi Cap which offloaded the maximum 7.10 lakh shares. On the other hand, it was UTI Equity and DSPBR Top 100 Equity which bought the most with 3.26 lakh and 3.02 lakh shares respectively. Sahara Infrastructure Fixed Pricing was the only fund which added this stock to its portfolio while eight funds opted out of it. 223 funds are holding this stock. RIL stock prices soared 10.06 per cent.


Most Sold Stocks
Large Cap  Worth of Shares Sold (Rs Cr)  Shares Sold (lakhs)
State Bank of India -399.89 -17.54
Oil & Natural Gas Corpn. -368.69 -31.63
Jai Prakash Associates -242.51 -107.04
Reliance Industries  -197.72 -19.03
HDFC Bank -179.76 -10.45

Most Bought

Hindalco Industries

On the other end of the spectrum, it was the country’s biggest aluminium maker Hindalco Industries in which funds bought the maximum in November. Funds bought 258.47 lakh shares worth Rs 336.48 crore. Reliance Natural Recources bought the maximum 41.27 lakh shares while Franklin India Flexi Cap and Morgan Stanley Growth came second and third after buying 36.21 lakh and 32.39 lakh shares respectively. Altogether 22 funds added this stock in its portfolio while three opted out of it. Meanwhile HDFC Arbitrage Retail and Birla Sun Life Tax Relief ’96 offloaded the maximum 9.63 lakh and 7.35 lakh shares respectively. Hindalco stock prices soared 13.20 per cent.

Infosys Technologies

Information Technology giants Infosys Technologies however slipped to second position this month after being at the top of the table in October as far as shares bought were concerned. Funds bought 11.51 lakh shares worth Rs 268.38 crore in November. Altogether 203 funds are holding the stock in its portfolio. Reliance Regular Savings Equity was the biggest buyer with 2.74 lakh shares. Nine funds added this stock in its portfolio while three opted out of it. The company’s stock prices soared 8.10 per cent.

ICICI Bank and Tata Motors

ICICI Bank and Tata Motors were the third and fourth major stocks which funds bought in November. 27.03 lakh shares worth Rs 238.51 crore were bought as far as ICICI Bank was concerned while Tata Motor’s 37.97 lakh shares worth Rs 234.45 crore were bought. Franklin India Bluechip fund which had no allocation to ICICI Bank bought the maximum 8.20 lakh shares in the month.


Most Bought Stocks
Large Cap  Worth of Shares Bought (Rs Cr)  Shares Bought (lakhs)
Hindalco Industries 336.48 258.47
Infosys Technologies 268.38 11.51
ICICI Bank  238.51 27.03
Tata Motors 234.45 37.97
ITC  179.22 69.63