Fund managers pare holdings in various blue chip shares in March

Mutual funds (MFs) ended up big subscribers of share sales in March. BPCL, Bank of Baroda, Wabco India, SBI Cards, and Tata Communications had been the prime five buys of equity fund administrators in March. Financial institution of Baroda issued new equity by way of a certified institutional placement and the others saw huge secondary exits.

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MFs also invested major in first general public offerings (IPOs). “March was an IPO frenzy thirty day period and MFs collectively deployed Rs 1,600 crore in 9 situation,” says Abhilash Pagaria, analyst at Edelweiss Securities. They invested about Rs 613 crore in MTAR Tech and about Rs 180 crore every single in the IPOs of Craftsman Automation and Nazara Tech.&#13
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Meanwhile, fairness MFs ended up viewed paring their holdings in many blue chip shares these types of as RIL (offered shares truly worth Rs 1,811 crore), HUL (Rs 1,531 crore), and ICICI Lender (Rs 1,267 crore). Nine of the 10 most-marketed stocks ended up aspect of the Nifty50. Equity MFs had a ton of dry powder in March as they saw beneficial inflows, of about Rs 9,000 crore, immediately after a gap of nine months.

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