Vedanta, Tata Motors PV, HDFC Bank, JFS shares on MF sell radar; what they bought in April

Wipro Ltd, HDFC Bank Ltd, Hindalco Ltd, Bajaj Auto Ltd, NTPC Ltd, Vedanta Ltd, Tata Motors Passenger Vehicles Ltd (Tata Motors PV) and Jio Financial Services Ltd (JFS) were on mutual funds' sell radar in the month gone by. Lenders such as ICICI Bank Ltd, Kotak Mahindra Bank Ltd and State Bank of India (SBI), IT major Infosys Ltd, online food delivery platform Eternal Ltd and NBFC Poonawalla Fincorp Ltd were on their 'buy' list, monthly AMFI data suggested.

In the case of Wipro Ltd, MFs held a 37.1 crore shares in April against 49.20 crore in March, as domestic funds sold 12 crore shares worth Rs 2,400 crore worth during the month.

HDFC Bank saw MFs selling Rs 2,200 crore worth shares, as they trimmed their holding in the private lender by 2.80 crore shares to 374.80 crore shares from 377.60 crore shares in March. MFs sold Rs 2,000 crore crore worth Hindalco shares at the end of April. 

At the end of April, MFs held 1.9 crore Bajaj Auto, down 20 lakh shares month-on-month. They sold a net Rs 1,600 crore Bajaj Auto shares, as per Nuvama. GE Vernova and NTPC saw selling to the tune of Rs 1,400 crore and Rs 1,100 crore respectively. Avenue Supermarts Ltd (D-Mart), Asian Paints, Vedanta, GAIL, Jio Financial, Lupin, Power Grid and Tata Motors PV saw up to Rs 900 crore in MF selling.

April saw flows moderating marginally as markets rebounded following the sharp correction in March, the overall participation remained strong across categories, reflecting continued conviction from retail and HNI investors, Nuvama said.

"Investor participation remained broad-based across diversified and SMID categories, with sustained traction in Flexicap, Midcap, and Smallcap strategies. The resilience in equity flows once again highlights the growing maturity of domestic investors, who are increasingly using periods of volatility and valuation corrections as opportunities for systematic allocation rather than reacting to short-term market swings," it said.

MF buying were seen upping stakes in ICICI Bank Ltd to 204.20 crore shares from 197.60 crore shares, buying a net Rs 8,300 crore worth of equities. SBI saw MFs buying Rs 4,300 crore worth shares. Kotak Bank saw Rs 2,300 crore in MF buying, followed by Eternal (Rs 2,100 crore), Infosys Rs 2,100 crore) and Poonawala Fincorp (Rs 1,600 crore). Varun Beverages, Hindustan Aeronutics Ltd , Delhivery Ltd, SAIL, Cipla and Maruti Suzuki India also witnessed MF buying for the month.