Quant Mutual Fund Exits IRFC, Tata Steel In August, Enters ONGC, Oil India

As per August data, Quant Mutual Fund exited several stocks including HDFC Bank, BEML, IRFC, Adani Enterprises and Tata Steel.

What Happened: The company’s biggest exit in terms of value was HDFC Bank. The fund house sold over 1.73 crore shares of the private bank worth close to ₹2,800 crore, data compiled by IDBI Capital showed. The second biggest one was the National Aluminium Company. The mutual fund sold 4.12 crore shares worth around ₹800 crore.

See Also: Mutual Funds Dump Suzlon, NBCC, CDSL, Tata Tech Shares In August

The company sold 3.6 lakh shares of Adani Enterprised worth ₹114 crore, and 1.50 lakh shares of BEML worth ₹68 crore. IRFC saw the fund house selling 37.58 lakh shares worth around ₹72.77 crore. The asset management company also sold over 1.23 crore shares of Tata Steel worth over ₹200.

In turn, it entered another Tata Group giant, Tata Consultancy Services, buying 12.33 lakh shares worth over ₹560 crore. The company also made major investments in PSU oil firms Oil India and ONGC. The fund manager pumped close to ₹90 crore in Oil India to pick up 12.14 lakh shares. ONGC saw the fund house buying 21.06 lakh shares worth around ₹70 crore.

Read Next: Govt Receives ₹1,610 Cr Dividend From NTPC