Liquidity gush keeps equity MFs busy

Fund managers have been buying lot of timely stock while faring not so well in sale of holdings

Amid a gush of liquidity, equity fund managers have been doing a lot of timely stock buying, while faring less well in sale of holdings.

The year started with the most buying in Infosys, the favourite information technology stock of fund managers. However, they took a sell call on peer Tata Consultancy Services (TCS). The following month, the latter rallied 11 per cent and Infosys by nine per cent.

Fund managers’ sell call on Axis Bank, Grasim Industries and HDFC Bank did not turn out well. All these counters gained quite a lot. Rather, on Axis and Grasim, fund managers