With benchmark indices coming off close to 10 per cent from their 2018 peak in March, equity mutual funds (MFs) had a hectic time rebalancing their portfolios. Taking advantage of the sharp slide, money managers invested in several banking stocks, including State Bank of India (SBI) and ICICI Bank.
The top-most buy for March was Tata Consultancy Services (TCS), where fund managers pumped in nearly Rs 40 billion amid a six per cent drop in the stock. ICICI Securities and Bandhan Bank, which came out with their initial public offerings (IPOs) in March, were among top three buys.
