IEX, Bandhan, ZEEL, Cyient, PB Fintech shares: Midcap stocks that MFs sold in June

L&T Finance Holdings Ltd, Dixon Technologies Ltd, Bandhan Bank, Gujarat Gas Ltd, ZEE Entertainment Enterprises Ltd (ZEEL), Cyient Ltd, Federal Bank Ltd and Indian Energy Exchange Ltd (IEX) were among midcap stocks that mutual fund (MF) houses sold ahead of Q1 results in June. Timken India, Aether Industries, Krishna Institute Of Medical Sciencs Ltd (KIMS), CreditAccess Grameen, NMDC and Kalyan Jewellers were among midcaps that saw MF buying during  the month.

June saw a sharp jump in mutual fund inflows at Rs 8,637 crore against a six-month low inflows of Rs 3,240 crore in May. On the other hand, the institutional class was seen investing a net of Rs 5,664 crore into stocks during the month. Despite healthy flows, mutual funds cut exposure to L&T Finance Holdings by Rs 520 crore, as they reduced their holding in the NBFC to 2.23 crore shares from 6.3 crore shares in May.

In the case of Dixon Technologies, mutual funds were net sellers to the tune of Rs 380 crore. They held 81 lakh Dixon shares in June against 90 lakh shares in May, data compiled by Nuvama Institutional Equities suggest. 

In Bandhan Bank, fund managers sold 1.2 crore shares worth Rs 290 crore. MFs held 11.74 crore Bandhan bank shares in June against 12.94 crore shares in May. Gujarat Gas (Rs 290 crore), Global Health (Rs 240 crore), ZEEL (200 crore) and Tata Chemicals (Rs 200 crore) were among midcap stocks seeing Rs 200-300 crore of MF outflows in June. 

Cyient (Rs 190 crore), The Phoenix Mills (Rs 190 crore), Triveni turbine(Rs 180 crore), Compton Greaves (Rs 170 crore), IEX (Rs 160 crore), PB Fintech (Rs 190 crore) and RBL Bank (Rs 150 crore)were among other midcap stocks that saw MF selling in June.

On the flip side, Timken India saw MFs raising their stake in the company to 1.21 crore shares in June from 84 lakh shares in May. They bought Timken India shares worth rs 1,270 crore for the month. Aether Industries (Rs 720 crore), KIMS (Rs 710 crore), CreditAccess Grameen (Rs 420 crore), NMDC (Rs 340 crore), Kalyan Jewellers (Rs 320 crore) and Oil India (Rs 320 crore) were among midcap stocks seeing MF buying in June. 

The Nifty Midcap 150 index outperformed all major indices last month, clocking a gain 6.16 per cent, respectively. The robust flows in equity mutual funds last month was led by strong SIP flow and gather in the pace of inflows in small cap and mid cap stocks.

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