Infosys is one of the most owned stocks by mutual funds in equity schemes.
Vishal Sikka, resigned from his post of MD & CEO of Infosys effective today. The stock was the top loser on both S&P BSE Sensex and Nifty.
The stock is down nearly 5 percent so far in 2017 compared to 20 percent rally seen in Nifty.
As per mutual fund research firm Morningstar, in July, the market value of mutual fund holdings in Infosys stood at Rs 21,094 crore compared with Rs 16,376 in July 2016.
Mutual funds held 21.23 crore shares of Infosys as on July 2017 compared with 15.42 shares a year ago.
According to the research data by Motilal Oswal that was released recently, during July, certain fund managers had shown conviction in Infosys as 12 funds had more than 2 percent exposure, while 8 had less than 2 percent holding.
Below is the quarterly change in mutual fund holdings in Infosys:
HDFC Mutual Fund had the highest exposure of 2 percent in Infosys until June 2017, followed by ICICI Prudential Mutual Fund (1.5 percent) and SBI Mutual Fund (1.16 percent).
The fund houses that held below 1 percent in Infosys — UTI Mutual Fund, Aditya Birla Sun Life Mutual Fund, Franklin Templeton Mutual Fund, Kotak Mahindra Mutual Fund, L&T Mutual Fund, DSP BlackRock Mutual Fund.
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The underlined stock remained among the favourite large caps in June with mutual funds holding shares worth Rs 19,274 crore.
In June 2017, Infosys is one of the most-owned stocks by mutual fund managers with an allocation of over 3 percent, or slightly over Rs 19,500 crore, of the total equity asset under management.
Nearly 460 equity schemes including exchange-traded funds or ETFs, Equity Linked Savings Scheme, and balanced funds have invested in shares of Infosys.
Put together, mutual funds owned 191 million shares of IT bellwether, making it the most-owned stock in the sector.
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