New stock picks and exits by top mutual funds last month

As investors continued to pour money into the stock market through mutual funds, AMCs were net buyers of around Rs 4,700 crore worth of equities in July. An analysis by IDBI Capital shows that the top new picks by mutual funds were Pitti Engineering, Morepen Lab and IOL Chemicals and Pharma. On the other hand, Butterfly Gandhimathi, Welspun Enterprises, Seya Industries, Ambika Cotton Mills & Shakti Pumps were on the list of top exits.

Here's a list of some of the stocks that top mutual funds entered and exited last month:

SBI Mutual Fund
India's largest asset manager, which handles AUM worth around Rs 6.7 lakh crore, bought over 1 lakh shares of Chambal Fertilisers and Chemicals during the month. On the other hand, it sold Escorts Kubota, NBCC, Firstsource Solutions, Whirlpool of India, Solara Active Pharma, Indiabulls Housing Finance and Intellect Design Arena.

HDFC Mutual Fund
HDFC MF picked 8,000 shares of Deepak Nitrite. The list of exits includes Blue Star, Angel One, Rain Industries, Astral and Metropolis Healthcare.

ICICI Prudential Mutual Fund
The fund house exited Ashoka Buildcon during the month by selling around 5.8 crore shares of the company. Top holdings include ICICI Bank, Infosys, HDFC Bank and Bharti Airtel.

Kotak Mahindra Mutual Fund
During the month, Kotak added two new stocks and exited six. New additions include GMR Infra and Hindustan Copper, while the list of exits have NBCC, Brightcom Group, JSW Energy, KEI Industries, ICICI Securities and CAMS.

Nippon India Mutual Fund
Nippon sold six stocks - Neogen Chemicals, Chennai Petroleum, PTC India, Welspun Enterprises, Kolte-Patil Developers and Seya Industries.

Axis Mutual Fund
Axis Mutual Fund bought nearly 1.3 crore shares of SKF India worth about Rs 55 crore. Besides, it also picked 1.35 lakh shares of Aditya Birla Capital.

UTI Mutual Fund
UTI Mutual Fund picked REC and RBL Bank while exiting GE Power and Indiabulls Housing Finance.