Quant Mutual Fund acquired a stake in ITC and reduced its holding in HDFC Bank in July, according to latest data.
The fund purchased 7.41 crore shares in ITC valued at Rs 3,669 crore.
Lapping Up ITC Shares
In terms of schemes, Quant Flexi Cap bought around 1.34 crore ITC shares worth Rs 666 crore, followed by Quant ELSS Tax Saver Fund and Quant Large & Midcap Fund. The tax saver and large and midcap fund bought shares worth Rs 440 crore and Rs 299 crore, respectively in ITC. Other schemes such as Quant Quantamental Fund Regular plan and Quant Active Fund bought shares worth around Rs 261 crore and Rs 221 crore in ITC, respectively.
Trimming HDFC Bank Stake
Quant MF also sold Rs 4,763 crore worth of holding (2.95 crore shares) in HDFC Bank in July. Following this, the fund's holding in HDFC Bank is valued at Rs 2,800 crore, down from Rs 7,871 crore in June.
In terms of specific schemes, Quant SmallCap Fund - Growth sold its entire stake in HDFC Bank worth Rs 1602 crore, followed by Quant Mid Cap Fund - Growth at Rs 779 crore, Quant Large & MidCap Fund - Growth at Rs 322 crore, and Quant Quantamental Fund - Growth at Rs 254 crore.
MFs in ITC and HDFC Bank
Currently, 39 MFs hold 125 crore shares in ITC which is worth Rs 61,862 crore while 41 MFs hold 158 crore shares in HDFC Bank which is worth Rs 2.54 lakh crore.
Quant MF's Holdings
As of July, Quant MF held stakes in about 184 firms valued at Rs 78,920 crore, down from 284 firms a month ago. Apart from this, Quant Mutual Fund also booked profits by exiting 122 stocks worth about Rs 9,490 crore in July and added 22 new stocks to its portfolio, according to calculations by Moneycontrol.
Among the completely exited sales, Hudco topped the list, with Quant Mutual Fund offloading 4.64 crore shares valued at Rs 1,449 crore. This was followed by Tata Consultancy Services, where the fund sold 31.39 lakh shares worth Rs 1,376 crore, and Kotak Mahindra Bank, where it sold 49.46 lakh shares valued at Rs 1,377 crore.
Quant Mutual Fund also fully exited positions in several other stocks, including Shipping Corp of India (Rs 893 crore), Escort Kubota (Rs 607 crore), NHPC (Rs 538 crore), HEG (Rs 445 crore), Railtel Corp (Rs 400 crore), and Graphite India (Rs 334 crore), among others.
Read More: Quant MF's AUM hit all-time high in June
Among new additions to its portfolio, the fund house added 22 new stocks in July worth Rs 2,950 crore. Its biggest buying interest in July was Piramal Enterprises, where it bought 45.85 lakh shares worth Rs 477 crore followed by MRF and Lloyds Metals & Energy where it purchased 28,908 shares and 52 lakh shares, worth Rs 411 crore and Rs 380 crore respectively.
Other notable additions in July were Bayer CropScience (Rs 310 crore), Bata India (Rs 236 crore), NBCC India (Rs 215 crore), Manappuram Finance (Rs 132 crore), Indian Oil Corp (Rs 100 crore), BASF India (Rs 93 crore), and Yes Bank (Rs 57 crore) among others.
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