MFs showing keen interest in this metal stock
DSIJ Intelligence / 01 Aug 2016
Almost 120 mutual fund schemes have invested in the stock. Rs 1,214 crore has been invested by these schemes put together in Tata Steel. HDFC Equity Fund -G has invested Rs 307 crore in Tata Steel and SBI Magnum Comma Fund has an allocation of 3.76 per cent of its portfolio in Tata Steel.
Tata Steel is up on Monday on a closing basis. The stock was up by 2.76 per cent at Rs 364.85 when markets closed shop for the day. The stock is in news due to revival in talks for selling its assets in U.K.
Tata Steel is up by almost 45 per cent over a 1 year period and is up by almost 46 per cent over a 6 month period.
Almost 120 mutual fund schemes have invested in the stock. Rs 1,214 crore has been invested by these schemes put together in Tata Steel. HDFC Equity Fund -G has invested Rs 307 crore in Tata Steel and SBI Magnum Comma Fund has an allocation of 3.76 per cent of its portfolio in Tata Steel.
Out of total funds invested in Tata Steel, which stand at Rs 1,214 crore , HDFC as a fund house has maximum share at 62.75 per cent followed by Reliance Mutual fund at 23.76 per cent.
The stock at Rs 364 is trading above its 200 day SMA indicating bullishness in the scrip.
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