Mutual funds are selling high-flying shares of firms Rail Vikas Nigam and Mazagon Dock Shipbuilders in June, according to brokerage data. 

What Happened: Motilal Oswal mutual fund tracker data shows RVNL and Mazagon Dock Shipbuilders are the top two mid cap stocks in terms of month-on-month selling in June. 

Mutual fund shareholding in RVNL declined to 20 lakh shares, falling 75.9% from the previous month. The value of shares held by mutual funds fell to ₹80 crore, nosediving by 73.7% from May. Motilal Oswal Midcap Fund sold 65 lakh shares in June and was the largest seller of the stock. 

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Meanwhile, shareholding by mutual funds in Mazagon Dock fell to 7 lakh, reflecting a 41.2% plunge. The share value declined to ₹290 crore, a decline of 20.9%. Invesco India Contra fund and HDFC Defence fund sold the most shares in the scrip, dumping 2.84 lakh and 1.40 lakh shares, respectively. 

On the other hand, share price of RVNL and Mazagon surged by 9% and 35%, respectively, in June. 

RVNL's shares rode to a fresh all-time high of ₹647 on Monday after winning a ₹132 crore order on Friday. 

Mazagon Dock's market capitalisation had sailed past ₹1 lakh crore in July after the company's stock surged on receiving "Navratna" status from the Department of Public Enterprises in June.  

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