Vedanta, HDFC Bank, ITC, Suzlon Energy, Tata Power shares on MF buy list; TCS, NTPC on sell radar

Vedanta Ltd, HDFC Bank Lt, ITC Ltd, Axis Bank Ltd, Power Grid and Suzlon Energy Ltd were some of the stocks that mutual funds bought with both hands in July. Tata Consultancy Services (TCS), NTPC Ltd, Avenue Supermarts (D-Mart), Bharat Electronics Ltd, Sun Pharma and ICICI Bank Ltd shares saw trimming of stakes by domestic fund managers, data showed.

Mutual funds bought 7.3 crore Vedanta shares worth Rs 3,290 crore in July. They held 27.33 crore Vedanta shares at the end of July against 20.04 crore shares at the end of June. In HDFC Bank, they bought an additional 1.68 crore shares worth Rs 2,720 crore. ITC saw Rs 2,690 crore worth MF buying, as the institutional category upped stakes to 146.97 crore shares from 141.54 crore shares. Axis Bank (Rs 2,130 crore) and Asian Paints (Rs 2,070 crore) were two other stocks seeing over Rs 2,000 crore worth MF buying in July.

Power Grid (Rs 1,620 crore), State Bank of India (Rs 1,460 crore), IOC (Rs 1,400 crore), Larsen & Toubro (Rs 1,370 crore) and PNB Housing (Rs 1,350 crore) were some other stocks seeing MF buying in July. Tata Power Company Ltd (Rs 720 crore) and Suzlon Energy (Rs 600 crore) were also in the buying list, data compiled by Nuvama Institutional Equities suggests.

On the flipside, MF sold Rs 2,710 crore worth 62 lakh TCS shares in July. Fund managers held 14.75 crore TCS shares in July against 15.36 crore shares in June. In NTPC, they sold Rs 2,580 crore worth 6.19 crore shares. DMart (Rs 2,120 crore), BEL (Rs 2,070 crore), Sun Pharma (Rs 2,050 crore) and ICICI Bank (Rs 2,000 crore) were some of the stocks seeing heavy MF selling.  Tata Motors, Kotak Mahindra Bank, HCL Technologies, HAL, TVS Motor, HUDCO, Tata Steel and Reliance Industries also saw MF selling.