Bharti Airtel, top pick for mutual funds

AMCs reduce stake in Reliance Ind, IDFC.

 

Bharti Airtel saw the highest number of shares (1.3 crore) being bought by the fund houses, while Reliance Industries witnessed the maximum number of shares (1.7 crore) being sold, said a report from Sharekhan.com.

The month of July saw the total assets under management (AUM) in equity schemes of mutual funds drop marginally by 0.3 per cent to Rs 2.03 lakh share crore, according to a report by Networth Stock Broking.

The mutual fund industry was a net seller of Indian equities for Rs 1,497 crore in July, the Sharekhan report added.

According to Sharekhan, other stocks that fell prey to profit-booking by mutual funds were Infrastructure Development Finance Co Ltd (1.2 crore shares), ITC Ltd (1.09 crore), Dabur India Ltd (1.02 crore) and Crompton Greaves Ltd (0.71 crore).

These companies, along with Reliance, make up the top five companies in terms of the volume of shares sold by fund houses.

In terms of volumes bought by fund houses, Bharti was followed by Petronet LNG Ltd (1.03 crore), Hindustan Media Ventures Ltd (1.01 crore), SpiceJet Ltd (0.86 crore) and Indiabulls Financial Services (0.78 crore).

Shares held

In terms of number of shares held by the schemes, NTPC occupied the top slot.

Around 14 crore shares of NTPC were held in MF portfolios with a total market value of Rs 2,929.12 crore.

However, Bharti Airtel — with the second highest number of shares in circulation in the portfolios (around 13 crore) — had the higher market value at Rs 4,239.68 crore.

In terms of featuring in the largest number of schemes, Reliance Industries was the top stock, with its presence in 269 schemes.

Around six crore shares of the stock were held at a market value of Rs 6,189.09 crore, according to the Sharekhan report.

State Bank of India shares had the highest market value at Rs 6,769.69 crore. However, only 2.7 crore shares of SBI were held in portfolios, according to the report.

ICICI Bank and Infosys stocks each had 259 schemes investing in them, and their market value was Rs 5,882.67 crore and Rs 5,986.48 crore, respectively.

Source: http://www.thehindubusinessline.com/2010/08/20/stories/2010082053281000.htm

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