Fund managers bulk up on financial stocks in September, shows data

HDFC Life and Reliance Industries (RIL) also featured in the most-sold list

Fund managers bought financial stocks in September amid strong inflows into equity-oriented schemes. HDFC Bank, SBI Life, SBI Cards, and Axis Bank were among the stocks that saw the highest investments – Rs 5,200 crore cumulatively – in the month. Max Healthcare Institute cornered the highest investment at Rs 1,992 crore though the stock fell nearly 7 per cent in September. 

Private equity major KKR divested nearly 7 per cent stake in the company, which fund managers used to increase exposure to the stock. In the mid-cap space, some of the notable buys were Vodafone Idea, whose stock nearly doubled following