Despite the government's effort to boost economic slowdown by reducing the corporate tax rate in September, equity inflows dropped in the month. This indicates that investor sentiment was cautious.
September was the first month in this fiscal that witnessed a fall in equity inflow by 27% to Rs.6,600 crore from the previous month.
In such market conditions, let’s look at how fund managers have realigned their portfolios to benefit from corporate tax rate cut.
Large cap
Among large caps stocks, ICICI Lombard, Zee Entertainment, HDFC AMC, DLF and SBI Life Insurance witnessed highest buying in September.
Stocks that saw some trimming last month were L&T Finance Holdings, Hindustan Zinc, Piramal Enterprises, NMDC and Maruti Suzuki.
|
Top 10 buys in large cap |
Increase in number of shares (lakhs) |
|
ICICI Lombard General Insurance |
379 |
|
Zee Entertainment Enterprises |
668 |
|
HDFC Asset Management Company |
19 |
|
DLF |
637 |
|
SBI Life Insurance Company |
582 |
|
United Breweries |
129 |
|
Nestle India |
37 |
|
Axis Bank |
5078 |
|
Page Industries |
6 |
|
Housing Development Finance Corporation |
1594 |
|
Top 10 sells in large cap |
Decrease in number of shares (lakhs) |
|
L&T Finance Holdings |
288 |
|
Hindustan Zinc |
159 |
|
Piramal Enterprises |
9 |
|
NMDC |
481 |
|
Maruti Suzuki India |
145 |
|
Marico |
530 |
|
Godrej Consumer Products |
113 |
|
Steel Authority of India |
1396 |
|
Bandhan Bank |
184 |
|
Colgate-Palmolive (India) |
153 |
Mid cap
Stocks like 3M India, Aarti Industries, ABB, Abbott and ACC garnered huge interest among fund managers while Tata Power, Edelweiss Financial Services, Shriram Transport, Bank of India and NBCC saw sell off last month.
|
Top 10 buys in midcap |
Increase in number of shares (lakhs) |
|
3M India |
4 |
|
Aarti Industries |
262 |
|
ABB India |
143 |
|
Abbott India |
12 |
|
ACC |
231 |
|
Adani Enterprises |
194 |
|
Adani Power |
631 |
|
Aditya Birla Capital |
297 |
|
Aditya Birla Fashion and Retail |
1393 |
|
AIA Engineering |
134 |
|
Top 10 sells in midcap |
Decrease in number of shares (lakhs) |
|
Tata Power Company |
2857 |
|
Edelweiss Financial Services |
237 |
|
Shriram Transport Finance Company |
97 |
|
Bank of India |
140 |
|
NBCC (India) |
774 |
|
Varroc Engineering |
79 |
|
Hexaware Technologies |
319 |
|
Canara Bank |
521 |
|
ICICI Securities |
356 |
|
Mahindra & Mahindra Financial Services |
720 |
Small cap
Stocks like Wheels India, Lemon Tree, Avanti Feeds, Gabriel India and eClerrx Services witnessed highest buying during September.
Meanwhile, BSE, Ujjivan, Indian Energy Exchange, Ircon International and MCX saw consolidation.
|
Top 10 buys in smallcap |
Increase in number of shares (lakhs) |
|
Wheels India |
32 |
|
Lemon Tree Hotels |
1477 |
|
Avanti Feeds |
23 |
|
Gabriel India |
61 |
|
eClerx Services |
72 |
|
Heidelberg Cement India |
111 |
|
Akzo Nobel India |
22 |
|
Prism Johnson |
307 |
|
Unichem Laboratories |
51 |
|
Ceat |
20 |
|
Top 10 sells in smallcap |
Decrease in number of shares (lakhs) |
|
BSE |
10 |
|
Ujjivan Financial Services |
47 |
|
Indian Energy Exchange |
212 |
|
Ircon International |
15 |
|
Multi Commodity Exchange of India |
97 |
|
Arvind |
258 |
|
Astrazeneca Pharma India |
8 |
|
Rites |
75 |
|
Ramkrishna Forgings |
42 |
|
Tata Elxsi |
12 |
