 "Fund managers pare holdings in several blue chip stocks in March")
Mutual funds (MFs) were big subscribers of share sales in March. BPCL, Bank of Baroda, Wabco India, SBI Cards, and Tata Communications were the top five buys of equity fund managers in March. Bank of Baroda issued fresh equity via a qualified institutional placement and the others saw large secondary exits.
MFs also invested big in initial public offerings (IPOs). “March was an IPO frenzy month and MFs collectively deployed Rs 1,600 crore in nine issue,” says Abhilash Pagaria, analyst at Edelweiss Securities. They invested about Rs 613 crore in MTAR Tech and about Rs 180 crore each in the IPOs of Craftsman Automation and Nazara Tech.
MFs also invested big in initial public offerings (IPOs). “March was an IPO frenzy month and MFs collectively deployed Rs 1,600 crore in nine issue,” says Abhilash Pagaria, analyst at Edelweiss Securities. They invested about Rs 613 crore in MTAR Tech and about Rs 180 crore each in the IPOs of Craftsman Automation and Nazara Tech.
Meanwhile, equity MFs were seen paring their holdings in several blue chip stocks such as RIL (sold shares worth Rs 1,811 crore), HUL (Rs 1,531 crore), and ICICI Bank (Rs 1,267 crore). Nine of the 10 most-sold stocks were part of the Nifty50. Equity MFs had a lot of dry powder in March as they saw positive inflows, of over Rs 9,000 crore, after a gap of nine months.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%