HDFC Bank top buy for Indian fund houses in Feb, Nuvama says

Indus Towers

13/03/2024 07:49

** India's HDFC Bank  HDBK.NS  was the top buy for Indian
mutual funds in Feb, with purchases worth 82.8 bln rupees (~$999
mln), Nuvama says in a note
    ** That came after HDFC Bank's shares slid 14% in Jan and 4%
in Feb following dissappointing Q3 results
    ** Mutual funds sold 22.9 bln rupees worth Sun Pharma
 SUN.NS  shares in Feb and 6.5 bln rupees of Bandhan Bank
 BANH.NS , Nuvama Alternative & Quantitative Research says
    ** Adds fund houses bought 30.7 bln rupees of Whirlpool of
India shares  WHIR.NS ; US-based Whirlpool  WHR.N  sold a chunk
of its stake in its India unit in Feb
    ** TCS  TCS.NS , Bharat Petroleum  BPCL.NS , Axis Bank
 AXBK.NS  and Maruti Suzuki  MRTI.NS  were among top additions
in large caps, Nuvama says
    ** Top reductions included Bajaj Finance  BJFN.NS , Mahindra
and Mahindra  MAHM.NS , Infosys  INFY.NS , says Nuvama
 
 ($1 = 82.8900 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))