Mutual fund managers made selective purchases of large banks, NBFCs, select auto and pharma names in February. SBI, HDFC Bank, Bajaj Finance, Axis Bank and Kotak Bank were some of their top picks as balance sheet strength is seen enabling these stocks to outperform smaller rivals. Some funds bought select large-cap pharma stocks like Sun Pharma, Dr Reddy’s, and Cipla following the fall in the stock prices.
As flows into mid- and small-cap thematic funds moderated and valuations remained rich, fund managers were cautious in these segments. Campus Activewear, VATech Wabag, and CMS Infosystems were some of the picks among smaller companies
Agencies
