Updated Aug 17, 2024 13:05 IST
Photo : ET Now Digital
Mutual Funds’ Top Picks: 6 Stocks Favored by 500+ Schemes in July.
Mutual funds collect investors’ money and then invest in different financial instruments such as equities, bonds or derivatives or ETFs. They try to get as much returns as possible with the investments and return the profits to investors after cutting their fees and other charges. There are over thousand mutual funds in India, ranging from themes, sectors, cap sizes, instruments and many more.
Equity-based mutual funds target different equities in their portfolios depending on strategies and way of management. Some stocks, however, are darling to mutual funds which are termed as favourite stocks.
Economic Times quoting ACE MF data has picked six stocks which are darling to over 500 mutual funds in July month.
1. HDFC Bank
There were 158.92 crore HDFC Bank shares held by mutual funds, with a total market value of Rs 2.56 lakh crore.
2. ICICI Bank
582 mutual fund schemes held the stock in their portfolio. 165.65 crore shares of ICICI Bank were held by mutual funds, with a total market value of Rs 2.01 lakh crore.
3. Reliance Industries
A total of 534 mutual fund schemes owned the stock. 52.02 crore shares of Reliance Industries were held by mutual funds, with a total market value of Rs 1.56 lakh crore.
4. Infosys
A total of 516 mutual fund schemes owned the stock. There were 71.88 crore Infosys shares held by mutual funds, with a total market value of Rs 1.34 lakh crore.
5. Bharti Airtel
503 mutual fund schemes held the stock in their portfolio. 61.73 crore shares of Bharti Airtel were held by mutual funds, with a total market value of Rs 92,094 crore.
6. State Bank of India
A total of 503 mutual fund schemes owned the stock. State Bank of India shares valued at Rs 87,858 crore were held by mutual funds, with a total market value of 100.70 crore.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
