Nearly every major mutual fund in India turned active in October, piling into the demerged entity of Tata Motors and LG Electronics India, one of the month’s largest issues. The data, released by Nuvama Alternative and Quantitative Research, shows a clear shift in fund-house strategies, with both buying and heavy profit booking visible across sectors.
Equity mutual funds also increased their cash balance by ₹5,200 crore, taking overall cash to ₹2.44 trillion, led primarily by Motilal Oswal MF and PFAS MF. SBI MF, HDFC MF and ICICI Prudential MF also raised their cash levels by ₹1,700 crore–₹2,100 crore.
This rise in cash levels signals cautious positioning even as funds selectively entered high-conviction bets.
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SBI Mutual Fund: Major Buys in Tata Motors Demerger and Adani Power
SBI MF, India’s largest fund house, placed large bets in October.
Its biggest additions were:
Tata Motors’ demerged entity – ₹2,607 crore
Adani Power – ₹2,302 crore
Bajaj Finance – ₹1,907 crore
At the same time, SBI MF reduced its exposure to:
ICICI Bank – ₹1,654 crore
HDFC Bank – ₹1,541 crore
Adani Ports – ₹806 crore
New investments were made in Canara Bank, Adani Energy Solutions, Dabur, and BSE, while it completely exited NTPC and Tata Elxsi.
HDFC Mutual Fund: Focus on SKF India and Tata Motors Demerged Unit
HDFC MF also took strong positions during October. Its top buys include:
SKF India – ₹1,304 crore
Tata Motors’ demerged entity – ₹1,072 crore
HDFC Bank – ₹710 crore
However, it trimmed positions in:
Maruti Suzuki – ₹429 crore
NTPC – ₹351 crore
TCS – ₹257 crore
New positions were added in ABB, Canara HSBC Life, and Lenskart, while it completely exited HCC, Coal India, IREDA, Advanced Enzyme, and Go Fashion.
ICICI Prudential MF: Biggest Buyer of ICICI Bank
ICICI Prudential MF emerged as a strong accumulator of:
ICICI Bank – ₹3,392 crore
Tata Motors’ demerged entity – ₹2,066 crore
HDFC Bank – ₹1,345 crore
Its major reductions included:
Bharti Airtel – ₹2,155 crore
SBI – ₹1,626 crore
Larsen & Toubro – ₹1,598 crore
New stocks added were Aditya Birla Sun Life AMC, Can Fin Homes, Thyrocare, JSW Energy, and Astra Microwave, while it made full exits from Chennai Petro, TD Power, and ICICI Lombard.
Kotak Mutual Fund: Bets on ITC, Shriram Finance, and BSE
Kotak MF added major positions in:
ITC – ₹1,669 crore
Shriram Finance – ₹768 crore
BSE – ₹614 crore
It reduced holdings in:
ICICI Bank – ₹842 crore
Axis Bank – ₹640 crore
Bharti Airtel – ₹623 crore
New entries included Lenskart, LG Electronics India, and Rubicon Research, while full exits were made from MTAR Tech, Travel Food Services, and Vikram Solar.
Axis Mutual Fund: Strong Entry into LG Electronics India
Axis MF increased its stakes in:
LG Electronics India – ₹600 crore
Kotak Mahindra Bank – ₹415 crore
AU Small Finance Bank – ₹301 crore
It pared holdings in Avenue Supermarts (₹390 crore), Bajaj Finance (₹340 crore) and Uno Minda (₹230 crore).
New additions included AU Small Finance Bank, Ujjivan Small Finance Bank, and CESC, while full exits were made from Sumitomo Chemicals and VA Tech Wabag.
Aditya Birla Sun Life MF: New Bets in Adani Power and Mankind Pharma
ABS MF strengthened its positions in:
Adani Power – ₹332 crore
LG Electronics India – ₹236 crore
Mankind Pharma – ₹223 crore
It reduced stakes in ITC (₹254 crore) and JSPL (₹249 crore), while Tata Capital was added as a new position.
Utkarsh Small Finance Bank was completely exited.
DSP Mutual Fund: Major Buy in Shriram Finance and TCS
DSP MF took large positions in:
Shriram Finance – ₹390 crore
TCS – ₹369 crore
Tata Motors’ demerged entity – ₹258 crore
It trimmed positions in Bajaj Finance, Bajaj Finserv, and Tata Motors Passenger Vehicles.
New additions included Canara HSBC Life, while Godrej Industries was a complete exit.
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