 "Gail India, Emami, Shriram Transport Finance on fund managers' radar")
GAIL (India), Shriram Transport Finance and Emami were on the most-boughtlist of mutual funds (MFs) in June. Fund managers were seen taking advantage of price correction in some of the stocks. For instance, Emami's share price fell 14 per cent in June amid concerns over promoter debt.
The stock was on the most-bought list of SBI MF, Birla Sun Life MF, L&T MF, Sundaram MF and LIC MF. Fund houses pumped in Rs 1,053 crore in the stock.
GAIL drew the largest chunk of MF investments at Rs 1,266 crore. The stock was down 13.7 per cent in June. Shriram Transport Finance saw Rs 1,098 crore of MF investments in June as Piramal Enterprises off-loaded its entire 10 per cent stake in the company.
Tata Consultancy Services (MF investments of Rs 796 crore) and Housing Development Finance Corporation (Rs 785 crore) were also in fund managers' buying cart in June. On the other hand, the agro-chemicals firm UPL saw heavy selling with MFs pulling back over Rs 900 crore from the stock.
Concerns of demand slowdown in some of its key markets (Brazil, the US), weighed on the stock. UPL's share price corrected 6 per cent in June.
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