Multibagger Aurobindo Pharma, 4 other pharma stocks see solid mutual fund action in February
Mutual funds sold Sun Pharma shares worth Rs 2,300 crore. The pharma major was among the top 10 holdings of Aditya Birla Sun Life, ICICI Pru, Sundaram MF, and Nippon India with stakes of 2.16%, 3.29%, 1.56%, and 1.20%, respectively.
Multibagger was among the most active pharmaceutical plays in February, witnessing significant buying action by ICICI Prudential Mutual Fund and recording top selling action by HDFC Mutual Fund. While the former bought Aurobindo Pharma shares worth Rs 810 crore in the month gone by, the latter sold shares worth Rs 422 crore.The stock, which delivered 124% returns over the past 12 months, overshadowing sector returns of 60% by the Nifty Pharma index and 29% by the broader Nifty index, has traded lackluster over a month now. It has declined 1% during this period.
The midcap counter remains the top holding of Quant Mutual Fund according to Nuvama.
Another pharma stock in action was which was offloaded by like Quant MF. It completely exited the stock while ICICI Pru sold shares worth Rs 923 crore during the month. However, for Franklin Templeton it was among the top additions as shares worth Rs 176 crore were bought by the fund.
Overall, mutual funds sold Sun Pharma shares worth Rs 2,300 crore.
Sun Pharma was among the top 10 holdings of Aditya Birla Sun Life, ICICI Pru, Sundaram MF, and Nippon India with stakes of 2.16%, 3.29%, 1.56%, and 1.20%, respectively.
The pharma major has given returns of just over 1% in the last month, while its returns over 1 year stood at 63%.
HDFC MF added shares of in February. Its holding in the company was 1.8% in the December ended quarter. Among other stocks in action were and where SBI Mutual Fund and Axis Mutual Fund were buyers.
In February, mutual funds bought stocks worth Rs 14,300 crore and alongside foreign institutional investors sold shares worth Rs 740 crore in the secondary market, Nuvama note said. The key additions across the industry were (Rs 8,300 crore), (Rs 3,800) and (Rs 3,100 crore) while key reductions were Mahindra & Mahindra (Rs 1,700 crore) and (Rs 1,700 crore).
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Source: Stocks-Markets-Economic Times