Top 10 Stock Picks by Mutual Funds in October 2024

In October 2024, mutual funds invested ₹87,200 crore in the Indian secondary market, while foreign institutional investors (FIIs) sold ₹1,04,200 crore. The mutual funds’ notable stock picks include Hyundai Motor, Waaree Energies, Godavari Bio, and Motilal Oswal Financial Services. 

Here’s a look at the top new stock picks by major mutual funds.

• HDFC Mutual Fund

HDFC Mutual Fund’s top new stock pick in October was Hyundai Motor, as it bought 1,54,50,000 shares of the company. Other new investments include Waaree Energies, Afcons Infra, and Godavari Bio.

• ICICI Prudential Mutual Fund

ICICI Prudential Mutual Fund also focused on Hyundai Motor, purchasing 27,24,000 shares in October. Additional new investments included Afcons Infra, Waaree Energies, and Godavari Bio.

• SBI Mutual Fund

SBI Mutual Fund’s primary new investment was in Hyundai Motor, with the purchase of 16,33,000 shares. It also added CARE Ratings to its portfolio.

• Kotak Mutual Fund

Waaree Energies was the top new pick for Kotak Mutual Fund, buying 15,38,000 shares. The fund also increased its holdings in Hyundai Motor and Orchid Pharma.

• DSP Mutual Fund

DSP Mutual Fund made a significant investment in R Systems International, purchasing 23,90,000 shares. The fund also invested in Angel One, Mankind Pharma, and PVR Inox.

• Axis Mutual Fund

Axis Mutual Fund’s top new pick was Hyundai Motor, with the purchase of 23,72,000 shares. It also added V-Mart Retail and Akums Drugs to its portfolio.

• Aditya Birla Sunlife Mutual Fund

Aditya Birla Sunlife Mutual Fund’s major new investment was Hyundai Motor, with the purchase of 19,65,000 shares. Other new picks include Afcons Infra, Waaree Energies, and Affle (India).

• Edelweiss Mutual Fund

Edelweiss Mutual Fund’s leading new pick was Waaree Energies, as it bought 87,000 shares. Other notable investments included Hyundai Motor and Godavari Bio.

• Tata Mutual Fund

Tata Mutual Fund’s top new investment in October was Motilal Oswal Financial Services, with the purchase of 19,35,000 shares. The fund also added Sundaram Clayton, Waaree Energies, and Hyundai Motor to its portfolio.

• UTI Mutual Fund

Hyundai Motor was the top new pick for UTI Mutual Fund, with the purchase of 14,22,000 shares. Other new investments included Motilal Oswal Financial Services, Godrej Agrovet, and Gravita India.

These stock picks show the strong interest of top mutual funds in sectors such as automobiles, energy, pharma, and financial services.

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.