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

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EquitiesMutual FundsNewsMarketsadani enterprisesBEMLHDFC BankIRFCOil IndiaONGCTata GroupTCS