ITC, TCS among top largecap additions by mutual funds in March

Mutual funds held a 9.66% stake in ITC at the end of the December quarter according to the latest shareholding data available on the BSE. The March quarter data is still not available but MF holdings are expected to go up in the quarter.

With over 8% returns in the past 12 months, ITC has underperformed the sectoral index Nifty FMCG, which has given over 16% returns during the period.

As for TCS, MF's prominent addition in March was this IT stock where the latter bought shares worth Rs 2,205 crore according to Nuvama's estimates. The details of other MF buys were not disclosed by the Nuvama note.

The shareholding data of TCS for the March quarter is not yet out. At the end of the December quarter, total holdings of mutual funds stood at 3.51%.

TCS shares have delivered returns of over 25% in the past 12 months, which are on par with the returns given by Nifty IT and those given by broader Nifty in the said period.


On Friday, TCS' reported revenue for the quarter stood at Rs 61,237 crore, up 3.5% year-on-year and 2.2% YoY in constant currency terms. The profit for the reported quarter stood at Rs 12,434 crore, up 9.1% YoY.

Prominent buying action was seen in and while selling in (SBI) and Jio Financial Services.

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