These Mutual Funds Bought Over 2 Lakh Shares Of IRFC Last Month

Indian Railways Finance Corporation has been one of the hottest stocks going around in the past few months. Just in the last 30 days, IRFC’s share price has gone up over 60%.

As per Trendlyne data, several funds such as Mirae Asset Nifty Midcap 150 ETF, ICICI Prudential Nifty Midcap 150 Index Fund, Nippon India Nifty Midcap 150 Index Fund, HDFC NIFTY Midcap 150 Index Fund, and Motilal Oswal Nifty Midcap 150 Index Fund raised their stakes in the PSU stock.

See Also: Why This Tata Fund Backed Small Cap Stock Is Surging 5% Today

The biggest buyer of them all was the Mirae Asset Nifty Midcap 150 ETF bought around 1.82 lakh shares of the company. The fund now holds over 5 lakh shares of the railway company. The second biggest buyer in August was Motilal Oswal Nifty Midcap 150 Index Fund which bought 36,562 shares of the company, taking its total holding in the stock to over 8.32 lakh shares of the company.

However, overall MF holdings in the stock went down by around 8.97 lakh shares as Baroda BNP Paribas Flexi Cap Fund sold 10 lakh shares of the company. The fund now owns around 30 lakh shares of IRFC.

IRFC shares along with other railway stocks have been on a tremendous rally this year. However, in the past few weeks, the stocks have seen some correction. In the past five days, IRFC’s share price has gone down around 3.5%.

Price Action: IRFC’s share price was down 0.45% to trade at ₹76.85 in the mid-market hours of trading on Thursday.

Read Next: Why This Mukul Agrawal Backed Small Cap Stock Is Up 6% Today

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: EquitiesMutual FundsMarketsIRFC

Loading...