Fund managers sold these stocks in March
DSIJ Intelligence / 26 Apr 2017
The markets have scaled to new highs and have crossed 30000 level in Sensex, backed by surge in liquidity from FIIs and DIIs.
Mutual Funds (MFs) have been net buyers in the equity market and have poured in nearly Rs 2,000 crore in the month of March alone. Markets are trading at all time highs and interestingly there are several frontline stocks that have slipped upto 20 per cent on a YTD basis this year viz., Coal India, Tech Mahindra, Dr. Reddy's Laboratories and TCS.
MFs were seen making an exit from these stocks in March quarter.
The markets have scaled to new highs and have crossed 30000 level in Sensex, backed by surge in liquidity from FIIs and DIIs.
Following stocks were dropped by MFs in March – Axis Bank, Divi's Laboratories, Tech Mahindra, Coal India, Bharti Airtel, TCS, Dr Reddy's Laboratories, JSW Steel, Ashok Leyland, BHEL, Orient Cement , Info Edge, Equitas Holdings and Sun Pharma among other stocks.
Majority of the stocks that have been dumped by the fund managers are also the ones that have underperfomed the benchmark index, giving negative returns on a YTD basis.
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