Mutual funds cut stakes in stocks such as Tata Motors, CDSL, HDFC Life and Tata Elxsi during October. October was a torrid month for investors as the benchmark index Nifty 50 slumped around 6%.

What Happened: As per a Motilal Oswal research note, mutual fund holding in Tata Motors went down by 0.7% to 38.19 crore shares in October. Mutual funds had bought a net 9.36 crore shares of the Tata Group company in September.

Fellow Nifty 50 stock HDFC Life also saw mutual holding go down by 1.6% to 15.76 crore shares. CDSL saw mutual fund holding go down by 6.6% to 2 crore shares. The stake is worth around ₹3,100 crore.

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Other Tata Group stocks that saw selling from mutual funds were Tata Elxsi, Tata Communications, and Voltas. Mutual fund holding in Voltas went down by 3.8% to 7.22 crore shares. Mutual funds cut their stake in Tata Elxsi by 3% and now hold 11 lakh shares of the company.

Tata Communications witnessed mutual fund holdings decrease by 1.8% to 2.85 crore shares.

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