Investors keep a track of buying and selling by Foreign Institutional Investors (FIIs), mutual funds, other Domestic Institutional Investors (DIIs) and ace investors to guide their investment decisions. It is important to analyse the stocks in their top picks and then make investment decisions.
According to a recent report published by Business Standard, domestic mutual funds (MFs) scooped up blue chip stocks in December, taking advantage of price corrections seen in them. During this period, the Nifty 50 declined by 3.8%. Here are some of the top blue chip stocks picked by mutual funds:
Mutual Funds lapped up shares worth ₹ 2,410 crores in HDFC. Its share price gained 0.53% in December. The company has a market capitalization of ₹ 4,91,711 crores and its shares closed at ₹ 2715.95 apiece on Friday.
HDFC is an Indian financial services company that is a major housing finance provider in India. Further, it has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans.
Mutual funds invested nearly ₹ 1,900 crores in Reliance Industries. Its share price declined by 6.5% in December. The company has a market capitalization of ₹ 16,24,339 crores and its shares closed at ₹ 2,442.65 apiece on Friday.
Reliance Industries Limited is a Fortune 500 company and the largest private sector conglomerate in India. The company has evolved from being a textiles and polyester company to an integrated player across energy, materials, retail, entertainment and digital services.
Mutual funds bought shares worth ₹ 1,670 crores in Maruti Suzuki. Its share price declined by 6.29% in December. The company has a market capitalization of ₹ 2,56,818 crores and its shares closed at ₹ 8,439.80 apiece on Friday.
The auto major was established as a joint venture agreement between the Government of India and Suzuki Motor Corporation (SMC), Japan in 1982. It became a subsidiary of SMC in 2002 and is the market leader in the passenger vehicle segment in India.
Mutual funds picked shares worth ₹ 1,480 crores in Kotak Mahindra Bank. Its share price declined by 5.53% in December. The company has a market capitalization of ₹ 3,51,520 crores and its shares closed at ₹ 1762.90 apiece on Friday.
Kotak Mahindra Bank is a leading financial services group in India. It provides a wide range of banking and financial services including retail banking, treasury and corporate banking, investment banking, stock broking, vehicle finance, advisory services, asset management, life insurance and general insurance.
Mutual funds invested ₹1,480 crores in the shares of Hindustan Unilever. Its share price declined by 3.82% in December. The company has a market capitalization of ₹ 6,22,583 crores and its shares closed at ₹ 2,548 on Friday.
Hindustan Unilever is in the FMCG business comprising home care, beauty & personal care and foods & refreshment segments.
On the other hand, mutual funds sold a stake in Axis Bank (₹ 1,330 crores). They dumped shares in the information technology and pharmaceutical space even though they saw a meaningful correction. HCL Technologies (₹ 850 crores), Dr Reddy’s Lab (₹ 550 crores)and Tech Mahindra (₹ 440 crores) were among the top sells in December.
Written by Simran Bafna
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