Mutual Funds (MFs), including UTI, lowered their holdings in 15 Sensex (^BSESN : 17690.62 -54.66
) companies in the quarter ended March 2010, an analysis by FE has shown. MF holdings in Hindalco Industries (HINDALC0.NS : 142 0) fell the most, decreasing to 2.93%, a fall of 2.5%, from 5.43% in the previous quarter. "Mutual funds offloaded bluechip shares after facing redemption pressures." said Kishor P Ostwal, CMD, CNI Research.
MFs divested Rs 5,796 crore worth of equities in the quarter ended March 31 on the back of redemptions from its unit holders.
M & M, Hero Honda Motor, Tata Steel (TATASTL.BO : 647.45 -9.45), ACC (ACC.NS : 900.25 -8.75), Infosys Technologies (INFOSYS.BO : 2741.65 +0.95
) and Reliance Infrastructure were among the other companies where MFs offloaded. ITC's latest share holding pattern was not available. The second highest decrease in stake was registered in M & M, from 5.81% to 4.16%, in the fourth quarter. In ACC, the stake fell from 1.74% to 1.22% during the above period. Public sector giant ONGC (ONGC.NS : 1045.15 +27.15) saw MF holdings decrease marginally from 2.26% to 2.21%.
MFs hiked stake in Grasim Industries followed by HDFC Bank, Larsen & Toubro and BHEL (BHEL.NS : 2474.5 -33.1). For the private sector giant Reliance Industries (RELIANCE.NS : 1062 -10), MF holdings increased from 2.42% to 2.61% during the quarter.
The average share of MFs stake in total of 29 Sensex companies decreased from 4.08% to 3.95% during the March quarter.
) companies in the quarter ended March 2010, an analysis by FE has shown. MF holdings in Hindalco Industries (HINDALC0.NS : 142 0) fell the most, decreasing to 2.93%, a fall of 2.5%, from 5.43% in the previous quarter. "Mutual funds offloaded bluechip shares after facing redemption pressures." said Kishor P Ostwal, CMD, CNI Research. MFs divested Rs 5,796 crore worth of equities in the quarter ended March 31 on the back of redemptions from its unit holders.
M & M, Hero Honda Motor, Tata Steel (TATASTL.BO : 647.45 -9.45
), ACC (ACC.NS : 900.25 -8.75), Infosys Technologies (INFOSYS.BO : 2741.65 +0.95) and Reliance Infrastructure were among the other companies where MFs offloaded. ITC's latest share holding pattern was not available. The second highest decrease in stake was registered in M & M, from 5.81% to 4.16%, in the fourth quarter. In ACC, the stake fell from 1.74% to 1.22% during the above period. Public sector giant ONGC (ONGC.NS : 1045.15 +27.15) saw MF holdings decrease marginally from 2.26% to 2.21%. MFs hiked stake in Grasim Industries followed by HDFC Bank, Larsen & Toubro and BHEL (BHEL.NS : 2474.5 -33.1
). For the private sector giant Reliance Industries (RELIANCE.NS : 1062 -10), MF holdings increased from 2.42% to 2.61% during the quarter. The average share of MFs stake in total of 29 Sensex companies decreased from 4.08% to 3.95% during the March quarter.
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