In September, mutual funds expanded their portfolios by adding eleven new stocks, with Bajaj Housing Finance Ltd emerging as the top pick. Mutual funds acquired 11.29 crore shares of the company, investing a substantial Rs 1,740 crore. Other significant investments included PN Gadgil Jewellers and SpiceJet Ltd, with Rs 483 crore and Rs 305 crore, respectively.
Bajaj Housing Finance, which debuted on September 9, witnessed a robust performance, surging nearly 135% from its issue price of Rs 70 per share. Supported by strong anchor book buying, 21 mutual funds took positions in this stock. Edelweiss Mutual Fund was the largest investor, holding a stake worth Rs 314 crore, followed by HDFC Mutual Fund (Rs 248 crore) and SBI Mutual Fund (Rs 206 crore).
PN Gadgil Jewellers, which listed on September 17, saw a 65% surge on its first trading day. A total of 10 mutual funds added this stock to their portfolios. SpiceJet, which raised Rs 3,000 crore through a Qualified Institutional Placement (QIP), also attracted domestic and foreign mutual funds. Prominent participants included Tata, Bandhan, Union, ITI, and Groww MFs.
Apart from Bajaj Housing Finance, PN Gadgil Jewellers, and SpiceJet, mutual funds invested in several IPOs. Notable additions included:
On the flip side, mutual funds fully exited ten stocks in September. The largest exit was from TCNS Clothing (Rs 512 crore), followed by Jash Engineering (Rs 72 crore) and Pix Transmissions (Rs 62 crore).
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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