VR Logo

Funds' favourite in April : Tata Motors

ICICI Bank was the most sold stock last month

Indian car manufacturers started off this financial year with a bang with car sales volume searching by double digit percentage figures year-on-year in April. Tata Motors emerged as the stock most sought after by mutual funds (MFs). It was lapped up by MFs.

In April, mutual funds bought 105.75 lakh shares worth Rs 849.65 crore of this stock. In March, they had bought 20.57 lakh shares worth Rs 158.86 crore.

However, the stock that was added by highest number of MFs in their portfolios was Zee Entertainment Enterprises, the country's leading television, media and entertainment company. Eighteen MFs added the stock to their portfolios in April. In March, the Tata Motors stock was added by the maximum 32 funds in their portfolios.

In April, the sector that caught the fancy of mutual funds was banks. Four stocks from this sector were among the top 10 most sought after stocks by MFs. Leading from the front was Kotak Mahindra Bank which was added by the second-highest 15 funds. Indian Bank, Axis Bank and Canara Bank were added by 13, 12 and nine funds respectively in April.

At the other end of the spectrum, Balrampur Chini Mills, one of the country's largest integrated sugar manufacturing companies was shunned by the maximum 20 funds in April. The stock of Zee News was the second most shunned with 19 MFs removing it from their portfolios. Max India, Hindustan Petroleum Corporation and 3i Infotech were removed by 17, 15 and 15 funds respectively.

Now we take a look at those five large-cap stocks which received highest investment by mutual funds in April.

Most Bought (Large-Cap)

Tata Motors
As mentioned earlier, it was the most bought stocks (in terms of amount) by MFs in April. Two funds of HDFC -- HDFC Top 200 and HDFC Equity -- bought the maximum 18.96 lakh and 16.52 lakh shares of this stock respectively in April. On the other hand, two funds of Reliance asset management company (AMC) -- Reliance Growth and Reliance MIP - sold the maximum 7.02 lakh and 3.01 lakh shares respectively. Altogether 19 funds added this stock in April while 16 removed it from their portfolios.

Fund House: HDFC AMC bought the maximum 46.99 lakh shares of this stock. UTI came second with the purchase of 20.23 lakh shares. ICICI Prudential and Birla Sun Life too bought 11.84 lakh and 10.46 lakh shares of this stock respectively in April. At the other end of the spectrum, JP Morgan AMC offloaded the maximum 1.08 lakh shares of this stock. Five funds of HDFC AMC and three funds of Tata AMC added this stock in their portfolio in April. On the other hand, three funds each of DSPBR and Reliance fund houses removed this stock from their portfolios.

Infosys Technologies
Mutual funds bought 6.07 lakh shares worth Rs 164.40 crore of this stock in April. Two funds of DSPR -- DSPBR Top 100 Equity Reg and DSPBR Equity -- bought the maximum 1.88 lakh and 1.28 lakh shares of this stock in April. On the other hand, Reliance Equity Advantage Retail offloaded the maximum 1.02 lakh shares. Eight funds added this stock to their portfolios while two removed it in April.

Fund House: DSPBR AMC bought the maximum 4.26 lakh shares of this stock. HDFC and ICICI Prudential AMC added 1.15 lakh and 1.11 lakh shares of this stock in April. Among the fund houses which offloaded this stock, one was Reliance AMC; it sold the maximum 2.21 lakh shares. Two funds of Kotak Mahindra AMC added this stock while one fund of Sahara AMC removed this stock from its portfolio.

Grasim Industries
Mutual funds bought 5.50 lakh shares of this stock worth Rs 155.45 crore in April. UTI Dividend Yield was the only fund which crossed the one lakh mark; it bought 1.93 lakh shares of this stock. Two funds of Franklin Templeton -- Franklin India Bluechip and Franklin India Flexi Cap -- too bought 0.70 lakh and 0.63 lakh shares of this stock in April respectively. Altogether 15 funds added this stock while 23 removed it from their portfolios.

Fund House: UTI and Franklin Templeton AMC bought the maximum 2.65 lakh and 2.20 lakh shares of this stock respectively. At the other end of the spectrum, Tata and Reliance AMC offloaded the maximum 0.72 lakh and 0.56 lakh shares of this stock respectively. Altogether four funds of Baroda Pioneer AMC added this stock to their portfolios while three funds of ICICI Prudential did the same in April. Two funds each of Tata, Reliance, Benchmark, Birla Sun Life, Franklin Templeton and UTI AMCs removed it from their portfolios.

Most Bought Stocks
Large Cap  Worth of Shares Bought (Rs Cr)  Shares Bought (lakhs)
Tata Motors Ltd. 849.65 105.75
Infosys Technologies Ltd. 164.40 6.07
Grasim Industries Ltd. 155.45 5.50
Axis Bank Ltd. 129.21 10.76
Punjab National Bank 100.00 9.87
Data between March 31 - April 30, 2010

Most Sold (Large-Cap)

ICICI Bank
The stock of this company continued to be shunned by mutual funds. In April, MFs offloaded 50.37 lakh shares worth Rs 479.84 crore of this stock. In March, funds had offloaded 32.50 lakh shares Rs worth 302.71 crore. Two funds each of HDFC and DSPBR offloaded the maximum shares of this stock. Two funds of HDFC - HDFC Equity and HDFC Top 200 -- offloaded 13.85 lakh and 7.83 lakh shares of this stock respectively. Similarly, two funds of DSPBR -- DSPBR T.I.G.E.R. Reg and DSPBR Top 100 Equity Reg -- offloaded the maximum 5.42 lakh and 4.91 lakh shares of this stock respectively.
At the other end of the spectrum, four funds of Reliance - Reliance Growth, Reliance Regular Savings Equity, Reliance Vision and Reliance Regular Savings Balanced -- bought the maximum 2. 24 lakh, 2.01 lakh, 1.83 lakh and 1.50 lakh shares of this stock respectively. One fund of Sundaram BNP Paribas -- Sundaram BNP Paribas Taxsaver -- also bought the maximum 2.13 lakh shares of this stock in April. Six funds added this stock while the same number of funds removed it from their portfolios.

Fund House: HDFC AMC and DSPBR AMCs offloaded the maximum 25.52 lakh and 15.56 lakh shares of this stock respectively. On the other hand, Reliance AMC and Sundaram BNP Paribas AMC bought the maximum 3.69 lakh and 2.32 lakh shares of this stock. Two funds of Canara Robeco AMC added this stock to their portfolios.

Reliance Industries
Mutual funds offloaded 20.74 lakh shares of this stock worth Rs 224.74 crore in April. This stock was placed fourth among the five most bought stock in March. Two funds each of DSPBR and ICICI Prudential shunned the stock the most in April. DSPBR Top 100 Equity Reg, DSPBR Equity, ICICI Prudential Tax Plan and ICICI Prudential Dynamic offloaded the maximum 3.38 lakh, 2.24 lakh, 3.14 lakh and 2.46 lakh shares respectively in April. On the other hand, HDFC Top 200 bought the maximum 8.28 lakh shares of this stock in April. Two funds of ICICI Prudential -- ICICI Prudential Infrastructure and ICICI Prudential Fusion S-II Retail -- also bought 0.90 lakh and 0.63 lakh shares of this stock respectively. Altogether five funds added this stock while nine funds removed it from their portfolios.

Fund House: DSPBR, Reliance and ICICI Prudential AMC offloaded the maximum 8.64 lakh, 7.49 lakh and 6 lakh shares of this stock respectively in April. At the other end of the spectrum, HDFC Mutual Fund bought the maximum 8.37 lakh shares of this stock in April. Canara Robeco AMC too bought 1.09 lakh shares. Three funds of DSPBR fund house and two funds of Birla Sun Life removed the stock from their portfolios.

Cairn India
Mutual Funds offloaded 57.86 lakh shares worth Rs 176.87 crore of this stock in April. Three funds of Reliance -- Reliance Growth, Reliance Equity and Reliance MIP -- offloaded the maximum 32.28 lakh, 8.37 lakh and 4.61 lakh shares of this stock respectively. ICICI Prudential Infrastructure and UTI SPrEAD too offloaded 18.74 lakh and 5.11 lakh shares of this stock respectively in April.

On the other hand, three funds each of DSPBR and Sundaram BNP Paribas bought the maximum of this stock. DSPBR Top 100 Equity Reg, DSPBR Equity and DSPBR Balanced bought 13.85 lakh, 7.40 lakh and 1.99 lakh shares respectively. Similarly Sundaram BNP Paribas Taxsaver, Sundaram BNP Paribas S.M.I.L.E. Reg and Sundaram BNP Paribas Select Focus Reg bought 7.42 lakh, 4.36 lakh and 3.07 lakh shares of this stock respectively in April. Eight funds added this stock while seven removed it from their portfolios.

Fund House: DSPBR AMC and Sundaram BNP Paribas AMC bought the maximum 23.14 lakh and 16.15 lakh shares of this stock in April. On the other hand, Reliance and ICICI Prudential offloaded the maximum 45.22 lakh and 21.43 lakh shares of this stock in April. Two funds of Reliance fund house removed this stock while three and two funds each of DSPBR and Sundaram BNP Paribas fund house added this stock in April.

Most Sold Stocks
Large Cap  Worth of Shares Sold (Rs Cr)  Shares Sold (lakhs)
ICICI Bank Ltd. -479.84 -50.37
Reliance Industries Ltd. -224.70 -20.74
Cairn India Ltd. -176.87 -57.86
Bharat Heavy Electricals Ltd. -170.48 -6.84
Hindustan Unilever Ltd. -155.17 -67.09
Data between March 31 - April 30, 2010