Mutual funds dumped popular stocks including Suzlon, RITES and NBCC. On the other hand, the funds invested heavily in Tata Motors, Tata Elxsi and Mazagon Dock.

What Happened: As per a note from Motilal Oswal, mutual funds cut stakes in Suzlon, NBCC, RITES, Oil India, Bharat Dynamics and Tata Technologies.

In the month of August, mutual fund holdings of Oil India went down 9.5% month on month to 10.7 crore shares. Mutual fund holding in Suzlon Energy went down by 4.9% month on month to 53.4 crore shares.

See Also: Hindustan Aeronautics Set To Get Maharatna Status By Year-End: Report

Bharat Dynamics and Tata Technologies both saw mutual funds holding go down by around 2.9% month on month. Mutual funds held 1.47 crore shares in BDL, while Tata Technologies’ mutual fund holding was at 34 lakh.

NBCC and RITES saw the biggest slumps at over 17% MoM. Mutual funds cut their stake to 5.28 crore shares in NBCC. RITES’ mutual fund holding stood at 66 lakh at the end of August. CDSL saw mutual fund holdings trimmed by 4.1% month on month to 2.48 crore shares.

Total inflows in mutual funds fell by 42% from ₹1.89 lakh crore in July to ₹1.08 lakh crore in August. Infows into equity mutual funds gained 3% to ₹38,239.16 crore. 

Read Next: Why These 2 Global Brokerages Are Strongly Bullish On Tata Motors, See Up To 30% Upside