HDFC MF exited bluest of blue chips in April

to lap up PSUs, insurers, auto stocks

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HDFC MF sold shares in RIL and Infosys, after these stocks recovered from their March
189.95 -1.40% NMDC
lows.
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By Rahul Oberoi, ETMarkets.com | Last Updated: May 12, 2020, 02.16 PM IST Save
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Prashant-Jain-1---BCCL HDFC Asset Management, India’s second largest mutual

HDFC Mutual Fund’s other major buys
in April included Power Grid, Vedanta,
HPCL, Bharat Electronics, NHPC,
Apollo Tyres, Bharat Petroleum,
FirstSource Solutions and REC, among
others.
fund house by assets, increased its holding in select life
insurance, auto ancillary, banking, metals, power, oil &
Why follow tips? Choose your winners
gas and engineering firms in April even as equity
rationally in 3 simple steps!
benchmarks Sensex and Nifty climbed nearly 15 per cent
during the month. START NOW

Related The fund house offloaded some shares in the bluest of

Steep TDS rates on dividend Most Read Most Shared
blue chips, including Infosys (1.32 crore shares) and Related
payouts concerns FPIs
Reliance Industries (30.59 lakh), after these stocks
Look who took the hardest knock of HDFC MF buys over 4% stake in beaten down
up to 150 bps in March-April FPI recovered smartly from their March lows. Suprajit Engineering
selloff
SBI MF becomes India’s top AMC, topples HDFC
Brokerages bet on this stock to Reliance Industries (RIL) this past fortnight reported a 37 MF
make most of virus-triggered
behaviour shift
per cent drop in March quarter profit at Rs 6,546 crore, as
HDFC MF junked biggies in Jan, turned to FMCG,
a rise in revenue from consumer-facing businesses was PSU, pharma bets
not enough to shield the company from drop in revenue in the petrochemical business and
Prashant Jain-led HDFC MF exiting top performers,
inventory losses resulting from a decline in global oil prices and demand destruction due to lapping up laggards
the coronavirus-induced lockdown.
HDFC MF front-running case: Sebi levies Rs 85
lakh fine on 7 entities
NSE BSE
RIL shares have recovered over 75 per cent
Company Summary
from the 52-week low of Rs 875.70 hit on
Reliance Ind… March 23.

“I will not invest fresh money in RIL after the recent runup. However, investors with 3-5 DISCOVER MUTUAL FUNDS
years perspective can consider it,” says AK Prabhakar, Head of Research IDBI Capital
Markets.
All Mutual Top Tax
Funds Saver Funds
IT major Infosys reported a 6.3 per cent rise in consolidated net profit for March quarter but
refrained from providing any revenue outlook for FY21, citing uncertainty amid Covid-19
Better Than Low Cost
outbreak, which is expected to impact its business in the near term. Fixed High Return
Deposits Funds

The IT major missed modest expectations on both revenue and margin fronts, said Emkay
Global Financial Services. The brokerage has a ‘hold’ rating on Emkay with a price target
of Rs 590.

HDFC Mutual Fund also sold over 10 lakh shares each in Siemens, Tata Chemicals, Cipla
Trending in Markets
and Sun Pharmaceuticals during April. It bought over 50 lakh shares each in Engineers IPO Allotment Status Stock Screener Sensex
India, NTPC, Axis Bank, ICICI Bank and Hindalco. Stock Market Stock Recommendations IPO
Upcoming IPO Gold Rate Top Gainers
ICICI Bank last week posted a 26 per cent rise in standalone net profit at Rs 1,221 crore Rupee vs Dollar Share Market Silver Price Nifty 50

for March quarter. Domestic brokerages are also bullish on the private sector lender. Phillip Nifty Bank Infosys Share Price Crude Oil Price

Capital recently came out with a ‘buy’ on ICICI Bank with a price target of Rs 450.

HDFC Mutual Fund’s other major buys in April included Power Grid, Vedanta, HPCL,
Bharat Electronics, NHPC, Apollo Tyres, Bharat Petroleum, FirstSource Solutions and
REC, among others. The fund house added 20 to 46 lakh additional shares of these
companies during the month.

HDFC AMC also added shares of several PSUs during month, including Bank of Baroda
(1.23 lakh shares), Coal India (1.22 lakh shares), State Bank of India (0.89 lakh shares)
and Mishra Dhatu Nigam (0.70 lakh shares).

Elsewhere, it bought additional shares in HDFC Bank (3.54 lakh shares), HDFC Life
 , g ( ),
Insurance (3.32 lakh shares), SH Kelkar (3 lakh shares), La Opala RG (2.46 lakh shares),
Radico Khaitan (2.34 lakh shares), Inox Leisure (2.26 lakh shares), SBI Life Insurance
(1.98 lakh shares) and Gabriel India (1.18 lakh shares).

Kotak Institutional Equities find the insurance space attractive. The brokerage has an ‘add’
rating on HDFC Life with a price target of Rs 530. Nirmal Bang Securities is positive on
SBI Life with a price target of Rs 914.

HDFC AMC has also sold over 35,000 shares each in M&M, Colgate-Palmolive, Wipro,
Bajaj Consumer, Max Financial, ITC and HCL Technologies. It completely exited ABB
Power, Indostar Capital, JK Cement, L&T Finance, Manappuram Finance, Muthoot
Finance and SAIL.

Indraprastha Gas and Info Edge were among the stocks the fund house entered afresh,
Ace Mutual Fund data showed.

(What's moving Sensex & Nifty? Track Latest Market News, stock tips and expert
advice on ETMarkets.)

Read more on HDFC Mutual Funds Ril Banking Stocks Stocks To Buy HDFC MF

Prashant Jain

Also Read
HDFC MF buys over 4% stake in beaten down Suprajit Engineering

SBI MF becomes India’s top AMC, topples HDFC MF

HDFC MF junked biggies in Jan, turned to FMCG, PSU, pharma bets

Prashant Jain-led HDFC MF exiting top performers, lapping up laggards

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