Some of the beaten-down stocks turned favourites for mutual funds (MFs), except Adani Group stocks, in Janauary. According to a report by ICICIDirect.com, the stocks include FSN E-Commerce (Nykaa), Zomato, One97 Communications (Paytm), Dixon Technologies, Blue Dart Express and Hindware Home Innovation.

While MFs have reduced stake in Adani Enterprises, Ambuja Cements, Adani Transmission, and Adani Green Energy, they added more shares of Adani Ports and SEZ, revealed ICICIDirect.com study.

Tata Motors, Apollo Hospitals, HAL, Bank of India, SAIL, L&T Finance Holdings, South Indian Bank and Sula Vineyards saw increased buying, while Heritage Foods, Tata Metaliks, Route Mobile, CAMS, KFin Technologies, Bata India, YES Bank, L&T Tech, Vodafone, IDFC First Bank, REC, Sun TV, and Laurus Labs saw selling.

MFs remain buyers

According to IDBI Capital, domestic MFs were net equity buyers in January 2023. MFs were net equity buyers to an amount of ₹21,353 crore, as against ₹14,692 crore in December 2022.

Ujjivan Financial Services, Hi-Tech Pipes, Atul Auto and Jindal Saw were the prominent new additions, said IDBI Capital, while MFs have exited from JMC Project, DFM Food and Hariom Pipe.

Nykaa, which reported a sharp slide in quarterly net profit, saw a sharp accumulation by SBI Mutual Fund, Nippon AMC and Mirae AMC for their various schemes. Besides, Dixon Technologies also saw accumulation by HDFC AMC and ICICI Prudential AMC.

Healthy inflows

Inflows (Ex-NFOs) came in significantly higher in January 2023 at ₹11,300 crore compared with ₹5,300 crore in December. Total inflow including NFOs in January was ₹12,500 crore (₹7,300 crore).

SIP inflows also saw a continuous rise. In January, SIP inflows were at ₹13,856 crore compared with ₹13,573 crore in December.

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