Mutual funds seem to have taken a shine to the stocks of State Bank of India and ICICI Bank in the fourth quarter ended March 31, 2017.
Mutual funds upped their stake in SBI from 7.88 per cent in the third quarter ended December 31, 2016 to 8.42 per cent in the fourth quarter ended March 31, 2017.
In the case of ICICI Bank, MFs increased their shareholding from 16.83 per cent in the third quarter to 20.04 per cent in the fourth quarter.
According to a mutual fund advisor, SBI is on the MFs radar as the acquisition of five associate banks and the Bharatiya Mahila Bank has given it more heft, leading to expectations of improvement in efficiency of operations and productivity, and a further increase in retail business due to the expanded branch network.
