Jio Financial and Tata Power Among Top Large-Cap Stocks Acquired by Mutual Funds in September 2024
Mutual Funds in September 2024 saw active buying/selling of securities that optimized their portfolios. According to Research, the top 10 large-cap stocks purchased by mutual funds during the month are revealed below. These transactions of top stocks reflect changed preferences and views among fund managers on promising investments.
Top Stocks Acquired in September
Here are some of the largest-cap stocks that mutual funds have been keen on in September:
- JSW Energy: Mutual funds stepped up their stake in JSW Energy, holding 263 lakh shares in September compared to 214 lakh shares in August. The market value of these shares stood at Rs.1,929 crore in September.
- Tata Power: September saw fund houses hold 2,916 lakh shares of Tata Power, a decrease of 2% sequentially from the 2,946 lakh shares held in August. While the number of shares might have decreased, the aggregate market value of the holdings at the end of September was still a neat Rs.14,072 crore.
- Hindustan Zinc: Holdings of Hindustan Zinc reached an all-time high, with fund houses holding 40 lakh shares by September as compared to 34 lakh shares in August. The market value of those shares reached an all-time high of Rs.209 crore in September.
- Jio Financial Services: This mutual fund demonstrated keen interest in Jio Financial Services and registered a growth from 2,355 lakh shares in August to 2,675 lakh shares in September. Its total market value, as of September, stood at Rs.9,380 crore.
- Samvardhana Motherson International: Fund houses have increased their holding in Samvardhana Motherson International to 11,030 lakh shares from 9,835 lakh shares in August. The total market value of the shares for the fund houses reached Rs.23,317 crore in September.
- Varun Beverages: Mutual funds increased their stakes in Varun Beverages, holding 855 lakh shares in September, compared to 765 lakh shares in August. The market value of the shares in September was Rs.5,181 crore.
- Bharat Heavy Electricals (BHEL): Fund houses had 2,024 lakh shares of Bharat Heavy Electricals in September as against 1,832 lakh shares in August. The total market value of the same was Rs.5,661 crore in September.
- Trent: Mutual funds invested heavily in Trent with 332 lakh shares in September against 304 lakh shares in August. The total market value of the same amount was Rs.25,140 crore.
- Punjab National Bank (PNB): Holding of Punjab National Bank rose to 3,316 lakh shares in September up from 3,048 lakh shares in August. At the current market value, the shares stood at Rs.3,555 crore in September.
- Union Bank of India: The Union Bank of India holding was further increased to 2,307 lakh shares in September from 2,126 lakh shares held by the mutual fund in the month of August. In the market terms, it means Rs.2,832 crores.
Such large-cap stocks certainly are one of the crucial additions in the mutual fund portfolios, it is an affirmation of growing confidence in the stock’s long-term capability and financial stability.
