Active fund managers exited from these large-cap stocks in the last two months

Domestic equity markets have been on a rollercoaster ride over the last one year due to global and domestic headwinds. Broader market index Nifty 50 delivered almost flat returns during the period. Sectors such as power, PSU Banks, utilities, industrials, and FMCG gained the most while realty, IT, media, consumer durables, and pharma corrected significantly over the last one year. Fund managers were cautious and exited stocks that they thought had weak prospects. Here are the top largecap stocks that active fund managers cut their exposure significantly to over the last two months. Portfolio data as of October 2022. Source: ACEMF.

GAIL (India)
Active funds that exited the stock: 18
Active funds holding the stock (as of October 31, 2022): 61
A sample of schemes that totally exited: Invesco India Infrastructure, LIC MF Infra and Baroda BNP Paribas Aggressive Hybrid Fund

Shree Cement
Active funds that exited the stock: 13
Active funds holding the stock (as of October 31, 2022): 45
A sample of schemes that totally exited: Kotak Focused Equity, Shriram Flexi Cap and UTI Mastershare

Life Insurance Corporation of India
Active funds that exited the stock: 12
Active funds holding the stock (as of October 31, 2022): 56
A sample of schemes that totally exited: HDFC Hybrid Equity, Baroda BNP Paribas ELSS and Axis Equity Hybrid

Tata Steel
Active funds that exited the stock: 12
Active funds holding the stock (as of October 31, 2022): 115
A sample of schemes that totally exited: Baroda BNP Paribas Business Cycle, ITI Value and Motilal Oswal Long Term Equity

Grasim Industries
Active funds that exited the stock: 11
Active funds holding the stock (as of October 31, 2022): 61
A sample of schemes that totally exited: Quant ESG Equity, Quant Focused and Franklin India Equity Hybrid

Vedanta
Active funds that exited the stock: 11
Active funds holding the stock (as of October 31, 2022): 20
A sample of schemes that totally exited: JM Equity Hybrid, Quant Active and Quant Value Fund

Indian Oil Corporation
Active funds that exited the stock: 10
Active funds holding the stock (as of October 31, 2022): 23
A sample of schemes that totally exited: DSP Natural Res & New Energy, ITI Value and Tata Quant Fund

Divi's Laboratories
Active funds that exited the stock: 10
Active funds holding the stock (as of October 31, 2022): 118
A sample of schemes that totally exited: Bank of India Bluechip, Divi's Laboratories and Union Focused Fund

Dr. Reddy's Laboratories
Active funds that exited the stock: 10
Active funds holding the stock (as of October 31, 2022): 115
A sample of schemes that totally exited: HSBC Large Cap Equity, ICICI Pru Retirement Fund-Pure Equity and Tata Business Cycle Fund

Bajaj Auto
Active funds that exited the stock: 9
Active funds holding the stock (as of October 31, 2022): 59
A sample of schemes that totally exited: Motilal Oswal Equity Hybrid, Shriram Flexi Cap and UTI Focused Equity Fund

Larsen & Toubro Infotech
Active funds that exited the stock: 9
Active funds holding the stock (as of October 31, 2022): 64
A sample of schemes that totally exited: Mahindra Manulife Multi Cap Badhat Yojana, Sundaram Equity Savings and Edelweiss Large Cap Fund