What Fund Managers Bought: Aug 13
While analysing Indian Fund Managers activities for Aug 13 month, few interesting things came to our notice.
1. In Aug-13, Indian fund managers perceived Axis Bank & Bharti Airtel at deep discount. They had unanimous consensus, so there was rush among all AMCs to buy these two stocks. Domestic AMC's collectively bought Axis Bank worth of Rs 617 cr and Bharti Airtel worth of Rs 479 cr from other market participants.
2. It seems Reliance AMC, is not positive about the future prospects of Tata Steel and Tata Motors, as they sold-off almost entire holding in these two Tata group companies. Similarly, they reduced significant holding from another index stock, namely ONGC
3. Classic activity of Reliance AMC is on Strides Acrolab, where they made quick gains and just moved on. Stock fell by 33% in July-13 and they increased holding significantly. In Aug-13, stock rose by 49%, and they sold a large chunk of holding, even after that they are left with the same holding value which they had as on July 1, 2013.
4. In July-13, Reliance AMC and SBI AMC had opposite view on Strides Acrolab, in Aug-13 they had opposite view on Triveni Turbines. Reliance exited from the stock; however SBI significantly increased the holding.
5. Franklin Templeton is the only AMC which added new stocks in their portfolios. They bought Asian paints, Cipla, Shree Cement and Hero Motocorp. Incidentally, DSP BlackRock holds opposite view on Shree Cement as they sold equivalent shares. In July-13, Hero Motorcorp was the top pick of most Fund Managers.
6. DSP BlackRock exited from Sun Pharma, which is the most preferred and valued stock in pharma space. They also exited from Glenmark, in which they had investment equivalent to Sun Pharma.
7. Birla and Reliance are the only two AMC which were holding Financial Technologies as of July-13, however, it seems that FMs at both AMC foresee only dark future ahead for this company, and consequently sold-off shares in Aug-13.
8. Yes Bank was another popular counter among 3 AMCs viz. SBI, FT and Birla. All that Birla sold was absorbed by SBI & FT.
9. In midcaps, HDFC picked up Amara Raja Batteries and almost doubled their investment from Rs 51 cr to Rs 105 cr.
10. UTI holds positive outlook for Technology and especially for I.T., as 6 out of Top 10 buys are Wipro, HCL Tech, Bharti Airtel, TCS, Tech Mahindra and Infosys.
Click here for the details of Stock Bought & Sold by Top 8 AMC.
Thanks & Regards,
Quants Partner
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