Contribution of systematic investment plans to mutual funds crossed Rs 16,000 crore for the first time in September, as investors recorded net inflows of Rs 14,091.3 crore.
Net assets under management grew 2.6%, adding a total of Rs 48,147.1 crore over the period, according to data released by the Association of Mutual Funds in India on Wednesday.
ICICI Direct released a report on how fund managers allocated this addition into equities on Oct. 12.
HDFC Bank Ltd. was the top holding for eight out of 10 asset management companies mentioned in the report.
Here are some of the other top picks:
Adani Power Ltd. was the top 'buy' among large caps, with an addition of 2.3 crore shares during the month of September, while Berger Paints India Ltd. was the top 'sell' with 9 lakh shares sold.
Among mid caps, JSW Energy Ltd. saw an addition of 25 lakh shares, while Indian Railway Finance Corp. saw a sell-off of 3.6 crore shares by asset management companies during the month.
Asset management companies bought a total of 1.24 crore shares of Aditya Vision Pvt., making it the top 'buy' among small-cap stocks.
Tarson Products Ltd. was the top 'sell', recording a total of 23 lakh shares sold.
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