MF radar: Infosys, Coforge, RIL, 7 others attract Rs 16K crore inflows in 30 days!

A total of 10 largecap and midcap stocks including Infosys Ltd, Reliance Industries Ltd (RIL) and Coforge Ltd attracted a whopping Rs 16,000 crore mutual fund (MF) inflows in the midst of earnings season within 30 days.

The huge MF buying in April was seen at a time when the institutional category was net buyer of equities to the tune of Rs 17,000 crore in the secondary market.

MFs bought 2 crore additional shares in Infosys worth Rs 3,000 crore. They held 77.3 crore Infosys shares in April against 75.3 crore shares in March.

In the case of TCS, MFs bought 70 lakh additional shares worth Rs 2,400 crore. It was followed by Reliance Industries where MFs bought 1.2 crore shares worth Rs 1,700 crore, data compiled by Nuvama Institutional Equities suggests.

IT firm Coforge, private lender Kotak Mahindra Bank and steelmaker Tata Steel garnered Rs 1,500 crore MF inflows each. Engineering and construction major Larsen & Toubro, lender IDFC First Bank and IT giant HCL Technologies attracted MF inflows of Rs 1,400 crore, Rs 1,200 crore and Rs 1,200 crore, respectively. Dr Reddy's Lab was among top 10 MF favourites for April, attracting Rs 800 crore inflows.

Other than these stocks, MFs were also seen buying stakes in to NTPC, Max Financial, Persistent Systems, SRF, RBL Bank, JSW Energy and Ather Energy. They added stakes to Lupin, Hindalco, Hyundai Motor, Swiggy, JSW Steel and Sun Pharma, among others.

Meanwhile, RIL, HDFC Bank, TCS, UltraTech Cement and Bajaj Finserv were some of the stocks seeing continued MF buying for three months now.

Equity mutual fund inflows for April had fallen 3 per cent to Rs 24,269 crore compared with Rs 25,082 crore in March. Despite this slight decline in net inflows, equity assets under management (AUM) for the month was up 3.8 per cent to Rs 30.5 lakh crore.

This indicated investor confidence remained resilient despite market fluctuations and geopolitical uncertainties, Pal Singh, CEO at ITI Mutual Fund last week.