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Inflows into Indian equity funds rose to a five-month high in January amid signs of a revival in small- and mid-cap stocks, a battered corner of the $2.2 trillion market for two straight years. Stock plans took in ₹7,880 crore ($1.1 billion) last month, according to the Association of Mutual Funds in India. That’s the highest since August.
Here’s what the top three asset managers bought and sold:
HDFC Mutual Fund
India’s largest money manager held $22 billion in equities, with financials accounting for a third of the stock assets, followed by industrial companies at 12%.
The money manager held equity assets of $21 billion, with financials making up 28%, followed by materials at 9%.
SBI Funds Management
The fund house held about $28 billion in over 300 stocks. Financials made up about 41% of the assets, followed by technology at 9%.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.