Top MF picks and drops
City: 
Mutual funds buy IT and auto stocks last month, shed PSU holdings

Infotech companies and automobile makers were among the top 10 large-cap stocks picked up by India’s mutual funds in May, data from global investment research firm Morningstar shows. On other extreme, four public sector enterprises counted among the top  large-cap stocks sold by MFs last month.

Housing Development Finance Corporation (HDFC), Infosys, ITC, HCL Technologies, Maruti Suzuki, Sun Pharmaceuticals, State Bank of India, NTPC, Tata Motors and HDFC Bank were the most bought 10 large-cap stocks in May.

The top 10 large cap stocks sold by mutual fund included Power Grid Corp of India, InterGlobe Aviation, Indian Oil Corporation, Kotak Mahindra Bank, Pidilite Industries, Container Corporation of India, GAIL India, Dabur India, Punjab National Bank and Adani Ports & Special Economic Zone (APSEZ).

Though private lender Kotak Mahindra Bank figured among the most sold stocks, mutual funds have significant holdings of this stock. It figures among the top 10 large-cap stocks held by mututal funds last month. The other companies that figure among the top holdings include HDFC Bank, ICICI Bank, Infosys, State Bank of India, Larsen & Toubro, ITC, HDFC, Reliance Industries and Maruti Suzuki India. Among the -cap and small-cap stocks the most sought after stocks were Indostar Capital Finance, Mphasis, Orient Electric, Voltas, Balkrishna Industries, Bharat Financial Inclusion, Tata Chemicals, City Union Bank, Indian Hotels Company and Aditya Birla Fashion & Retail.

On the other hand, the top 10 mid-cap and small-cap stocks sold by mutual funds last month included Cyient, Repco Home Finance, Crisil, Reliance Infrastructure, PC Jeweller, SRF, Atul, Tata Global Beverages, Tata Communications and KSB Pumps.

Among the mid-cap and small-cap stocks, Tata Chemicals, Divi''s Laboratories, Max Financial Services, Cholamandalam Investment & Finance, Bharat Financial Inclusion, Voltas, Ramco Cements, Exide Industries, Apollo Tyres and Indian Hotels Company figure in the list of top 10 mutual holding as as of May 2018.