Federal Bank, Tata Steel, HUL, Infosys, REC, ZEEL shares: MFs bought stakes in these stocks in July

Mutual funds bought into shares of large caps such as ICICI Bank, Kotak Mahindra Bank and Tata Steel in July while they trimmed stakes in Axis Bank, Bharti Airtel and Mahindra & Mahindra (M&M) in the quarter gone by. Berger Paints was a complete exit. In the midcap space, the institutional investor category upped holdings in Federal Bank, Prestige Estates, Fortis Health at expense of stocks such as Polycab India, Jubilant FoodWorks and Biocon. Bank of Maharashtra was a new entry in the midcap space, data compiled by Nuvama Institutional Equities suggest.

Among all market capitalisation categories, Federal Bank was mutual funds' biggest bet in value terms. As per Nuvama, domestic fund managers bought increased their holdings in Federal Bank by 12.32 crore (worth Rs 1,670 crore) to 81.59 crore shares in July from Rs 69.27 crore in June.  In Coal India, MFs bought 5.71 crore additional shares worth Rs 1,310 crore in July.

They held 48.97 crore shares as on July 31 against 43.26 crore on June 30. Power Grid was the third biggest buy, as MFs bought 5.71 crore shares worth Rs 930 crore. Tata Steel (Rs 860 crore), Hindustan Unilever (Rs 730 crore), Aurobindo Pharma (Rs 710 crore), HCL Technologies (Rs 690 crore), Infosys (Rs 630 crore), United Breweries (Rs 610 crore) and Fortis Healthcare (Rs 610 crore) were some of the stocks that mutual funds bought in July.

ZEE Entertainment Enterprises, IndusInd Bank, Maruti Suzuki, Prestige Estates, HDFC Life and Hero MotoCorp were some other stocks where MFs bought additional shares last month.

July saw domestic mutual funds staying net buyer of equities. They bought a net Rs 7,707 crore worth stocks in July against Rs 5,664 crore in the previous month.

On the flip hand, MFs sold R 770 crore Polycab shares in the month gone by. The institutional category also reduced stakes to Larsen & Toubro (Rs 670 crore), Bajaj Finserv (Rs 660 crore), IDFC (Rs 620 crore), Power Finance Corp (Rs 600 crore), Axis Bank (Rs 540 crore), Eicher Motors (Rs 500 crore), Max Healthcare Institute (Rs 500 crore).  

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