Top New Entries And Complete Exits Made By Mutual Funds In October
Hyundai Motor India Ltd. and Waaree Energies Ltd. emerged as significant new additions to mutual fund portfolios in October 2024, reflecting strategic moves during a turbulent market month.
Mutual funds made record investments in equities in October as markets recorded their largest monthly decline since the Covid period.
During the month, the cumulative value of a complete exit from companies made via various schemes stood at Rs 31,901 crore, whereas fresh entries added up to Rs 47,362 crore worth of investments.
These were the top new stocks in which actively managed equity mutual fund schemes made investments and took exits from during the month.
Hyundai Motor India Ltd. took the spot as the new entrant among holdings of actively managed equity mutual fund schemes after the stock got listed on the exchanges on Oct. 22.
The value of holdings in the company as of the end of the month stood at Rs 5,782 crore.
Waaree Energies Ltd. also made the list after making its entry on the bourses on Oct. 28, with the value of holdings at Rs 1,328 crore.
Mahindra & Mahindra Ltd. came in second as a fresh addition among schemes with the largest cumulative value of holdings at the end of the month at Rs 2,107 crore.
Adani Enterprises Ltd. and Bajaj Auto Ltd. saw the value of fresh entries worth Rs 1,770 crore and Rs 1,328 crore, respectively.
Among companies removed from mutual fund holdings, the value of Avenue Supermarts Ltd.'s shares was the largest at Rs 924 crore across schemes that made a complete exit.
Among the complete exits, Trent Ltd. and Bharat Electronics Ltd. make a notable appearance, given that they were the newest additions to the benchmark Nifty 50, effective Oct. 1. The cumulative value of shares sold stood at Rs 657 crore and Rs 607 crore, respectively.
Shriram Finance Ltd. was the second-largest exit, worth Rs 785 crore.
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