Indian equities have corrected sharply in March with both Nifty 50 and BSE Sensex plunging around 24%. Meanwhile, equity funds witnessed the highest net inflows in FY 2019-20 at Rs 11,700 crore. The net inflows have increased from Rs.10,800 crore in February.
Let us look at how fund houses dealt with the flows and what are some of the key changes they made to their portfolios:
Large cap
In the large cap space, Mahindra & Mahindra, Adani Ports and Special Economic Zone, JSW Steel and Biocon were among the most sought after stocks. Meanwhile, stocks like Power Grid Corporation of India, Tata Motors, Tata Steel, Asian Paints and Grasim Industries witnessed the highest selling in March, shows an ICICI Direct report.
|
Top 10 buys in large cap |
Mar (shares in lakh) |
Feb (Shares in lakh) |
Monthly increase |
|
Mahindra & Mahindra |
1272 |
1030 |
242 |
|
Adani Ports and Special Economic Zone |
820 |
603 |
217 |
|
JSW Steel |
510 |
401 |
109 |
|
Biocon |
643 |
539 |
104 |
|
Bharti Infratel |
363 |
260 |
103 |
|
Zee Entertainment Enterprises |
445 |
364 |
81 |
|
Lupin |
478 |
397 |
81 |
|
Interglobe Aviation |
307 |
245 |
62 |
|
Eicher Motors |
24 |
19 |
5 |
|
HDFC Asset Management Company |
17 |
14 |
3 |
|
Top 10 sells in Largecap |
Mar (shares in lakh) |
Feb (Shares in lakh) |
Monthly decrease |
|
Power Grid Corporation of India |
5379 |
6048 |
669 |
|
Tata Motors |
1942 |
2307 |
365 |
|
Tata Steel |
1638 |
1706 |
68 |
|
Asian Paints |
433 |
481 |
48 |
|
Grasim Industries |
636 |
663 |
27 |
|
Colgate-Palmolive (India) |
102 |
127 |
25 |
|
Havells India |
200 |
221 |
21 |
|
Pidilite Industries |
176 |
185 |
9 |
|
Piramal Enterprises |
8 |
14 |
6 |
|
Bosch |
4 |
5 |
1 |
Mid cap
In the mid cap segment, stocks like Tata Consumer Products, Ashok Leyland, Cholamandalam Investment & Finance Company, Castrol India and Gujarat Gas were among the top picks. Meanwhile, stocks of Vodafone Idea, GMR Infrastructure, Jindal Steel & Power, Adani Enterprises and Adani Power witnessed the highest selling.
|
Top 10 buys in mid cap |
Mar |
Feb |
Increase |
|
Tata Consumer Products |
1368 |
813 |
555 |
|
Ashok Leyland |
2907 |
2440 |
467 |
|
Cholamandalam Investment & Finance Company |
1922 |
1744 |
178 |
|
Castrol India |
445 |
392 |
53 |
|
Gujarat Gas |
458 |
420 |
38 |
|
Bharat Forge |
426 |
391 |
35 |
|
PVR |
102 |
78 |
24 |
|
Phoenix Mills |
150 |
135 |
15 |
|
Shriram Transport Finance Company |
39 |
32 |
7 |
|
Motilal Oswal Financial Services |
62 |
57 |
5 |
|
Top 10 sells in mid cap |
Mar |
Feb |
Decrease |
|
Vodafone Idea |
12831 |
15315 |
2484 |
|
GMR Infrastructure |
344 |
1553 |
1209 |
|
Jindal Steel & Power |
720 |
949 |
229 |
|
Adani Enterprises |
117 |
203 |
86 |
|
Adani Power |
363 |
438 |
75 |
|
Edelweiss Financial Services |
185 |
224 |
39 |
|
Sun TV Network |
273 |
307 |
34 |
|
Glenmark Pharmaceuticals |
107 |
125 |
18 |
|
Dalmia Bharat |
59 |
68 |
9 |
|
Indian Railway Catering & Tourism Corpn |
33 |
38 |
5 |
Small Cap
In the small cap space, Spicejet, Suprajit Engineering, Narayana Hrudayalaya, Radico Khaitan and GHCL witnessed good buying from AMCs. Meanwhile, stocks that saw the highest selling were NPCC, The India Cements, NBCC (India), Thyrocare Technologies and FDC.
|
Top 10 buys in small cap |
March |
Feb |
Increase |
|
Spicejet |
616 |
409 |
207 |
|
Suprajit Engineering |
121 |
57 |
64 |
|
Narayana Hrudayalaya |
285 |
222 |
63 |
|
Radico Khaitan |
143 |
99 |
44 |
|
GHCL |
159 |
130 |
29 |
|
Varroc Engineering |
102 |
82 |
20 |
|
CCL Products (India) |
99 |
80 |
19 |
|
Just Dial |
92 |
74 |
18 |
|
Sudarshan Chemical Industries |
17 |
13 |
4 |
|
Lakshmi Machine Works |
7 |
5 |
2 |
|
Top 10 sells in small cap |
March |
Feb |
Decrease |
|
NCC |
1110 |
1228 |
118 |
|
The India Cements |
84 |
200 |
116 |
|
NBCC (India) |
941 |
1039 |
98 |
|
Thyrocare Technologies |
43 |
79 |
36 |
|
FDC |
87 |
119 |
32 |
|
Jubilant Life Sciences |
22 |
33 |
11 |
|
Indostar Capital Finance |
110 |
121 |
11 |
|
Cera Sanitaryware |
13 |
19 |
6 |
|
Raymond |
55 |
61 |
6 |
|
Avanti Feeds |
24 |
28 |
4 |
Source: ICICI Direct
