Tata Steel, Vedanta and SAIL saw MFs buying in November; Hindalco, JSPL on sell list

Tata Steel, Vedanta, SAIL and NNDC were a few metals and mining companies where mutual funds increased stakes in November, data compiled from PRIME Database suggested. Hindalco Industries, Jindal Steel and Power and Tata Metaliks were among the sector companies where MF trimmed stakes in November, data showed.

Mutual funds held 7.81per cent stake in Tata Steel worth Rs 10,280.96 crore as of November 30 against 7.24 per cent stake worth Rs 8,988.73 crore as of October end. The institutional category bought 6,98,82,584 additional Tata Steel shares for the November month.

MFs bought an addition 69,70,181 Vedanta shares for the month. The institutional category held 1.08 per cent stake worth Rs 1219.77 crore in the Anil Agarwal firm as of November 30 compared with 0.89 per cent stake worth Rs 929.66 crore as of October end.

In the case of SAIL, fund managers bought 3,92,07,982 additional shares in the state run firm in November. MFs held 3.57 per cent stake in this midcap firm worth Rs 1,251.42 crore as of November 30 against 2.62 per cent stake worth Rs 852.15 crore at the end of October.

MFs increased exposure in NMDC by 1,31,78,446 shares. The institutional category held 4.02 per cent stake worth Rs 1,387.62 crore in  India’s largest producer of iron ore as of November 30 compared with 3.57 per cent stake worth Rs 1044.54 crore as of October end.

In Jindal Stainless, MF upped stake to 3.71 per cent in November from 3 per cent in October. Meanwhile, MF bought 5,181 additional shares of MOIL during the month gone by.

Hindalco Industries, Jindal Steel and Power and Tata Metaliks were among metals companies where MF cut stakes in November. In Hindalco, MFs trimmed holding to 11.22 per cent from 11.85 per cent month-on-month (MoM). In JSPL, MF stake reduced to 10.35 from 10.38 per cent. In Tata Metaliks, MFs cut stake to 8.67 epr cent from 8.81 per cent MoM. 

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