Mutual funds pare holdings in Adani Group stocks in February, shows data

Three group companies feature in list of most-sold large-cap stocks

Fund managers pruned their exposure to crisis-hit Adani Group stocks amid an unprecedented sell-off triggered by a report by US-based Hindenburg Research. Adani Ports and Special Economic Zone topped the list of most-sold large-cap stocks by domestic mutual funds in February.

Ambuja Cements and Adani Enterprises were also among the top five large-cap companies that witnessed selling by MFs.

A report by ICICI Direct shows that MF holding in Adani Ports fell by 28 per cent month-on-month in terms of number of shares. The value of the holdings, meanwhile, was down over 30 per cent. In the case of Ambuja