Mutual funds bought Kotak-HDFC shares worth Rs 10 thousand crores, FIIs sold HDFC shares
Market: Among those buying shares of Kotak Bank are Nippon, Birla Sunlife, HDFC, Kotak, and SBI Mutual Fund. Due to the strictness of the RBI, Kotak's shares fell by 9 percent in April.
The sharp decline in the stocks of Kotak Mahindra and HDFC, two significant private sector banks, has been exploited by mutual funds. Investment firms purchased shares of these two banks in April for approximately Rs 10,000 crore. In the Nifty this year, these two stocks have lost the most value.
At an estimated cost of Rs 7,884 crore, mutual funds have purchased 4.65 crore Kotak Mahindra Bank shares. Spent Rs 1,859 crore to purchase 1.22 crore HDFC Bank shares. Axis, Nippon, Franklin Templeton, Kotak, SBI, HDFC Mutual Fund, and Nippon are the fund houses that have purchased shares of HDFC Bank.
Among those buying shares of Kotak Bank are Nippon, Birla Sunlife, HDFC, Kotak and SBI Mutual Fund. Due to the strictness of RBI, Kotak's shares fell by 9 percent in April. On the other hand, fund houses have sold shares worth Rs 1,634 crore of SBI, Rs 1,140 crore of Bajaj Finance and Rs 1,271 crore of Jio Financial.
