How Much Have MFs Invested In HDFC Bank?

With a deployment of Rs 2,720 crore in July, MFs' total investment in HDFC Bank in calendar year 2024 (till now) surged to Rs 48,820 crore.

Mutual funds continued to lap up HDFC Bank and other major banking sector stocks in July.

With a deployment of Rs 2,720 crore (Rs 27.20 billion) in July, MFs' total investment in HDFC Bank in calendar year 2024 (till now) surged to Rs 48,820 crore (Rs 488.20 billion), shows a report by Nuvama Alternative & Quantitative Research.

The investment is the aggregate of total net deployment by active equity, passive and equity-oriented hybrid schemes.

Other top buys in the banking space include Axis Bank and State Bank of India. Vedanta, ITC and Asian Bank were also among the most-bought stocks last month.

Among smallcap companies, MFs lapped up shares of PNB Housing, Jyoti CNC Auto, Emcure Pharma, Sobha and Piramal Enterprises, shows the report.

Companies in which MFs trimmed their holdings significantly include Tata Consultancy Services, NTPC, Avenue Supermart, Bharat Electronics and Sun Pharma.

Bulking up: Banks dominate MFs' buy list

Source: Nuvama Alternative & Quantitative Research

Note: During two-month period (August and September); **At October 12 closing price

Feature Presentation: Ashish Narsale/Rediff.com