What India's Top Three Mutual Funds Bought And Sold In September

Here's what SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund bought and sold in September, according to AMFI.

<div class="paragraphs"><p>Rs 500  currency notes.&nbsp;(Photo: Usha Kunji/BQ Prime)</p></div>
Rs 500 currency notes. (Photo: Usha Kunji/BQ Prime)

India's top three mutual funds added at least 12 new companies and exited 13 between them in September.

Net investments into equity and equity-linked schemes more than doubled over the previous month to Rs 14,099.7 crore in September, according to data released by the Association of Mutual Funds in India. That’s the 19th straight month of inflows into such stock plans.

According to Emkay Quantitative Research, mutual funds primarily added exposure in the financial services (Rs 6,700 crore) and software sector (Rs 3,000 crore), while selling telecommunications (Rs 1,200 crore).

Among the stocks to be watched, Emkay said BEML Land Assets Ltd.—the de-merged entity of Bharat Earth Movers Ltd.—will be held by eight mutual funds once it is listed and the combined inflows into schemes value will be Rs 220 crore.

Harsha Engineers International Ltd., which listed on Sept. 26, was bought by 11 mutual funds with a combined value of Rs 340 crore into schemes, it said.

Among large-cap stocks, Infosys Ltd., Maruti Suzuki India Ltd., Adani Enterprises Ltd. and Bajaj Finance Ltd. saw inflows into mutual fund schemes. Tata Steel Ltd., Bharti Airtel Ltd. and ICICI Bank Ltd. reported the highest outflows, Emkay said.

Here's what India's top three asset managers bought and sold in September:

SBI Mutual Fund

SBI Funds Management Ltd. remains India's top mutual fund with the largest holding. It has investments in 345 stocks across 12 sectors.

It holds total assets worth Rs 6.85 lakh crore under management, as of Sept. 30, 2022.

In September, the fund added four new companies and exited three.

India's largest mutual fund's top buy was Adani Enterprises Ltd., the most valuable company of the group controlled by billionaire Gautam Adani, Asia's richest man.

The mutual fund added Sundaram Finance Ltd. and exited Sagar Cements Ltd. in the month gone by.

ICICI Prudential Mutual Fund

ICICI Prudential Asset Management Co. remained India's second-largest mutual fund by assets under management. The fund has total investments worth Rs 4.91 lakh crore in 582 stocks across 12 sectors.

Over the previous month, the fund added 13 new companies and exited 11.

The mutual fund entered Butterfly Gandhimathi Appliances Ltd., which is being acquired by Crompton Greaves Consumer Electricals Ltd. as part of its long-term strategic goal of becoming a leader in the small domestic appliances segment.

HDFC Mutual Fund

HDFC Mutual Fund, with assets worth Rs 4.26 lakh crore under management, is India's third largest asset manager.

It has investments in 388 stocks across 12 sectors. In August, it entered positions in 10 new stocks and exited five.

It took a nearly Rs 100-crore position in BEML Land Assets and also invested in Harsha Engineers International Ltd. as part of the IPO.

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