May 15, 2023
By: bhakti.makwana@timesinternet.in
Credit: Canva
Inflows into equity mutual funds (MFs) hit a four-month low in April as investors booked profits after a rally in March. As per the Association of Mutual Funds in India (AMFI), inflows fell 68 percent to ₹6,480 crore in April from March’s ₹20,534 crore.
Credit: BCCL
While investors booked profits in some of their investments, we list the top new stocks that the mutual funds added and those they exited in April, as per a report by IDBI Capital.
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The pharma company is the top new stock added by MFs in April. The company’s initial public offer opened in April and saw stellar listing gains in May. However, Mankind has since come under the income tax department’s radar over allegations of tax evasion.
Credit: Mankind Pharma
The electronic manufacturing firm is the second top stock bought by the MF industry in April, when the shares made their market debut. However, the stock has tanked 8 percent since listing.
Credit: Avalon Technologies
The textile manufacturer was another stock that found favour among mutual fund companies in April. GHCL Limited demerged its spinning business, effective April 1, 2023, into GHCL Textiles, which is set to be listed on the stock exchange.
Credit: GHCL Textiles
In April, Allcargo Logistics split into three listed entities – Allcargo Logistics, Allcargo Terminals, and TransIndia Realty & Logistics Parks. MFs bought shares of the two new Allcargo demerged entities in April.
Credit: Allcargo Logistics
The Indian restaurant company that owns multiple fine and casual dining chains like Mainland China, Oh! Calcutta, Sigree Global Grill etc is another stock that MFs bought in April. The company raised ₹127 crore in a preferential issue in April.
Credit: Speciality Restaurants
Chennai Petroleum Corporation, Mirza International, Anup Engineering, Tasty Bite Eatables and Kamdhenu Ventures are stocks that mutual fund companies exited in April.
Credit: Canva