Top 5 Stocks Mutual Funds Bought and Sold in November 2023

November 2023 marked the 33rd consecutive month of net inflows for Indian mutual funds, according to data released by the Association of Mutual Funds of India (AMFI).

The month saw equity inflows to the tune of Rs 155.4 bn, which was a decline of 22% when compared to inflows of Rs 199.6 billion recorded in October 2023.

The heavy inflows were a result of six new fund launches in November 2023 which garnered Rs 19.1 bn.

The key highlight was that none of the equity categories witnessed net outflows during the month!

Systematic investment plans (SIPs) continued their good run. Inflows in the segment topped Rs 170 bn for the first time.

Meanwhile, smallcap and midcap funds drew the highest net inflows.

Small-cap and mid-cap mutual fund schemes received net inflows of Rs 37 bn and Rs 26.7 bn, respectively.

This takes the total inflows in smallcap schemes since January 2023 to Rs 371.8 bn while for mid-cap funds, it comes to Rs 215.2 bn.

Midcaps and smallcaps have been in demand and it's clearly visible from MF data. In contrast, largecap funds have logged net outflows of Rs 26.9 bn since January this year. In November, largecap funds saw minor inflows to the tune of Rs 3.1 bn.

Inflows into gold ETFs, which had surged to the highest level since April 2022 recently, dipped to Rs 3.3 bn in November from Rs 8.4 bn it received in October 2023.

Let's take a look at the stocks that mutual funds traded the most during this period...

Top Stocks Sold by Mutual Funds in November 2023

Largecaps: Indian mutual funds trimmed their positions in largecap stocks such as Bank of Baroda (BOB), Coal India, IOC, and BPCL.

TVS Motors, Britannia and SBI Cards were the other largecaps that saw selling.

Midcaps: From the midcap space, mutual funds offloaded Indraprastha Gas, Tata Communications, Polycab India and Jindal Stainless.

Smallcaps: Suzlon Energy, Dish TV, Natco Pharma and Ramkrishna Forgings saw maximum selling by MFs from the smallcap space in November 2023.

Other notable sells from the smallcap space included Sterling & Wilson, NOCIL and Tata Steel Long Products.

Top Stocks Bought by Mutual Funds in November 2023

Largecaps: Coming to buying, GAIL (India), Tata Power, and Bajaj Finance witnessed massive inflows.

Adani Power, Godrej Consumer and IRCTC also witnessed buying.

Midcaps: From the midcap space, mutual funds bought shares of Vodafone Idea, Petronet LNG, Bandhan Bank and SAIL.

Other notable midcaps that saw heavy buying include Bharat Dynamics and Oracle Financial (OFSS).

Smallcaps: Aptus Value Housing, Granules India and Sequent Scientific were the top smallcap buys.

Other smallcaps that witnessed buying include Shipping Corp and Gujarat Ambuja Exports.

Top Equity Mutual Funds in November 2023

Here is the list of top 10 mutual fund houses as per their equity asset under management (AUM) as of November 2023.

Top 10 Equity Mutual Funds as per AUM

Top Fund Houses	Equity AUM (Rs bn)
SBI Mutual Fund	5,702.4
ICICI Prudential Mutual Fund	3,249.8
HDFC Mutual Fund	3,027.4
Nippon India Mutual Fund	2,366.6
UTI Mutual Fund	1,969.8
Kotak Mutual Fund	1,864.6
Axis Mutual Fund	1,539.7
Aditya Birla SL Mutual Fund	1,298.6
Mirae Asset Mutual Fund	1,259.1
DSP Mutual Fund	836.9

Data Source: ACE MF, PersonalFN Research

What India's Top Mutual Funds Bought and Sold in November 2023

• SBI Mutual Fund

  India's largest equity fund held Rs 5,702 bn in equities as of November 2023.

  The top equity holdings of the fund include HDFC Bank, ICICI Bank, and Reliance Industries.

  Here's what SBI Mutual Fund bought in November 2023. The fund house did not make any complete exit from its portfolio in November 2023.

  Company Name
  New Buys	Value as on 30 November 2023 (Rs m)
  Tata Technologies Ltd.	1,459.30
  Indian Renewable Energy Development Agency Ltd.	682.30
  Flair Writing Industries Ltd.	381.10
  Top Increase / Decrease in Stakes	Change in No. of Shares
  Campus Activewear Ltd.	1,489,427
  Gujarat Ambuja Exports Ltd.	916,129
  Aptus Value Housing Finance India Ltd.	15,184,816
  The New India Assurance Company Ltd.	-3,820,863
  Tata Communications Ltd.	-518,931
  Polycab India Ltd.	-163,075

  Data Source: ACE MF, PersonalFN Research

• ICICI Prudential Mutual Fund

  ICICI Prudential Mutual Fund was the second largest equity fund house with Rs 3,250 bn in equities as of November 2023.

  The top three equity holdings of ICICI Prudential Mutual Fund include ICICI Bank, Infosys, and HDFC Bank.

  Here's what the fund bought and sold in November 2023.

  Company Name
  New Buys	Value as on 30 November 2023 (Rs m)
  Tata Technologies Ltd.	1,102.90
  Indian Renewable Energy Development Agency Ltd.	612.20
  Gandhar Oil Refinery (India) Ltd.	476.70
  ASK Automotive Ltd.	156.80
  Andhra Paper Ltd.	141.50
  Arvind Smartspaces Ltd.	5.30
  Complete Sell	Value as on 31 October 2023 (Rs m)
  Ashoka Buildcon Ltd.	181.90
  Utkarsh Small Finance Bank Ltd.	135.70
  Techno Electric & Engineering Company Ltd.	42.10
  Top Increase / Decrease in Stakes	Change in No. of Shares
  Godrej Agrovet Ltd.	124,426
  Nesco Ltd.	28,667
  Star Health and Allied Insurance Company Ltd.	756,805
  Archean Chemical Industries Ltd.	-491,697
  Alembic Pharmaceuticals Ltd.	-206,091
  Ajanta Pharma Ltd.	-167,978

  Data Source: ACE MF, PersonalFN Research

• HDFC Mutual Fund

  Following ICICI Prudential Mutual Fund we have HDFC Mutual Fund with Rs 3,027 in equities as of November 2023.

  The top five equity holdings of the fund include ICICI Bank, HDFC Bank, State Bank of India, Infosys, and NTPC.

  Here's what HDFC Mutual Fund bought and sold in November 2023.

  Company Name
  New Buys	Value as on 30 November 2023 (Rs m)
  Indian Renewable Energy Development Agency Ltd.	634.00
  Gandhar Oil Refinery (India) Ltd.	476.70
  Fedbank Financial Services Ltd	250.40
  Flair Writing Industries Ltd.	100.00
  Complete Sell	Value as on 31 October 2023 (Rs m)
  Landmark Cars Ltd.	243.30
  Harsha Engineers International Ltd.	119.60
  Top Increase / Decrease in Stakes	Change in No. of Shares
  Piramal Pharma Ltd.	10,593,980
  Dalmia Bharat Ltd.	75,284
  Deepak Nitrite Ltd.	21,206
  Polycab India Ltd.	-64,423
  Suzlon Energy Ltd.	-25,318,265
  Century Plyboards (India) Ltd.	-67,848

  Data Source: ACE MF, PersonalFN Research

How the mutual fund buying and selling trend pans out in the month of December 2023 remains to be seen.

We will keep you updated on all the developments from this space.

Stay tuned.

As you're interested in what mutual funds are buying and selling, check out Equitymaster's Indian Stock Screener.

This tool tracks the stocks recently bought by mutual funds along with the stocks recently sold by them.

Happy investing!

PS: The above piece relies on data from PersonalFN. PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...