Mutual funds are professionally managed investment vehicles that pool money from various investors to invest in equities, debt, or other securities. They are known for offering diversification, liquidity, and expert management, making them a preferred choice for retail investors looking to participate in the stock market.
In September, mutual funds showed more interest in several companies. When mutual funds buy more shares of a company, it often shows a strong belief in the company’s future. This can be a good sign for regular investors too, as it may lead to better stock performance and higher demand.
According to Nuvama Alternative & Quantitative Research, mutual funds increased their investments in several stocks during the month of September. Equity Mutual Funds deployed Rs. 400 crore from their cash balance in the month of September, but the overall cash levels remain at Rs. 1.76 lakh crore.
Here is the list of stocks to look out for, which were bought during September:
Adani Power Ltd
Adani Power Ltd is one of India’s largest private-sector power generation companies, primarily engaged in the generation and distribution of electricity. The company operates thermal power plants with a significant capacity across multiple locations in India and has been focusing on expanding its footprint in renewable energy, contributing to India’s growing energy needs and sustainability goals.
SBI Mutual Fund house has doubled down on its bets by adding shares worth Rs. 2,327 crore to its portfolio. This move reflects growing confidence in the company’s long-term growth potential.
Interglobe Aviation Ltd
Interglobe Aviation Ltd (IndiGo) is India’s largest airline in terms of passenger market share, offering domestic and international flight services. Known for its low-cost business model, IndiGo has established itself as a leader in the Indian aviation industry with a reputation for punctuality, affordability, and customer service, and the airline continues to expand its fleet and network, aiming to connect more cities.
SBI Mutual Fund house has doubled down on its bets by adding shares worth Rs. 1,728 crore to its portfolio. This move reflects growing confidence in the company’s long-term growth potential.
Max Healthcare Institute Ltd
Max Healthcare Institute Ltd is one of India’s leading healthcare providers, operating a network of multi-specialty hospitals, diagnostic centers, and healthcare services across the country. It specializes in fields such as oncology, cardiology, neurology, and orthopedics, and continues to expand its services to meet the growing healthcare demands in India.
SBI Mutual Fund has doubled down on its bets by adding shares worth Rs. 1,291 crore to its portfolio. This move reflects growing confidence in the company’s long-term growth potential.
ICICI Bank Ltd
ICICI Bank Ltd is one of India’s largest private-sector banks, offering a wide range of banking services, including retail banking, corporate banking, and wealth management. Known for its strong digital banking infrastructure, ICICI Bank has established itself as a leader in innovation, with a focus on customer-centric services and financial inclusion.
HDFC Mutual Fund house has increased its shares in the company by adding worth Rs. 1,425 crore. This move reflects growing confidence in the company’s long-term growth potential.
Kotak Mahindra Bank Ltd
Kotak Mahindra Bank Ltd is a leading private-sector bank in India, known for providing a comprehensive range of banking and financial services, including retail and corporate banking, wealth management, and insurance. The bank has a solid track record of growth and has earned a reputation for its prudent risk management and strong financials.
HDFC Mutual Fund house has increased its shares in the company by adding worth Rs. 788 crore. This move reflects growing confidence in the company’s long-term growth potential.
Alkem Laboratories Ltd
Alkem Laboratories Ltd is a prominent Indian pharmaceutical company engaged in the development, manufacture, and marketing of generic and branded medicines. Known for its high-quality formulations, Alkem operates in both domestic and international markets, focusing on therapeutic areas such as oncology, anti-infectives, and pain management.
HDFC Mutual Fund house has increased its shares in the company by adding worth Rs. 735 crore. This move reflects growing confidence in the company’s long-term growth potential.
Eicher Motors Ltd
Eicher Motors Ltd is a leading Indian automotive manufacturer, known for its flagship brand Royal Enfield, which produces iconic motorcycles with a global presence. The company also has a significant presence in the commercial vehicle segment through its subsidiary, VE Commercial Vehicles.
Axis Mutual Fund house has increased its shares in the company by adding worth Rs. 386 crore. This move reflects growing confidence in the company’s long-term growth potential.
Eternal Ltd
Eternal Ltd, formerly Zomato Ltd., is an Indian technology company that rebranded to reflect its expansion beyond food delivery. It operates multiple business verticals, including the food delivery platform Zomato, the quick-commerce service Blinkit, the dining-out services under the District brand, and the business-to-business (B2B) food ingredient supply service Hyperpure.
Axis Mutual Fund house has increased its shares in the company by adding worth Rs. 331 crore. This move reflects growing confidence in the company’s long-term growth potential.
Cohance Lifesciences Ltd
Cohance Lifesciences Ltd is a pharmaceutical company focused on the development and manufacturing of generic drugs, APIs (Active Pharmaceutical Ingredients), and specialty formulations. The company provides high-quality, affordable healthcare solutions and is involved in both domestic and international markets.
Axis Mutual Fund house has increased its shares in the company by adding worth Rs. 322 crore. This move reflects growing confidence in the company’s long-term growth potential.
Written by Sridhar J
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