Mutual funds sold Rs 1441 crore worth of Tata Motors shares in Jan

SBI Mutual Fund led January’s selling spree among mutual funds, offloading over 58 lakh shares worth Rs 476 crore. Axis and Bandhan Mutual Funds followed, selling over 28 lakh shares and 16 lakh shares worth Rs 225 crore and Rs 132 crore, respectively

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Mutual funds capitalized on Tata Motors’ recent upswing, pocketing a profit of around Rs 1441 crore in January. They reduced their collective holdings to 32.80 crore shares from 34.58 crore shares in December, selling around 1.78 crore shares. The Tata Motors stock has risen nearly 2.5x so far this financial year. Sentiment for the stock was further bolstered when the automaker reported a sturdy set of earnings for the December quarter, with revenues rising 25 percent and net profit by 137 percent year-on-year.

SBI Mutual Fund led January’s selling spree in Tata Motors shares, offloading over 58 lakh shares worth Rs 476 crore. Axis and Bandhan Mutual Funds followed, selling over 28 lakh shares and 16 lakh shares worth Rs 225 crore and Rs 132 crore, respectively. Additional net sellers included Edelweiss, ICICI Prudential, DSP, Aditya Birla Sun Life, and Kotak Mahindra Mutual Funds, each selling just above Rs 100 crore.

Mirae Assets MF increased its Tata Motors shares by around Rs 84 crore in January, with HSBC MF and Franklin Templeton MF following suit, adding around Rs 65 crore and Rs 60 crore to their portfolios, respectively.

Even after the sales, SBI Mutual Fund leads in Tata Motors stakes with holding over 7.96 crore shares which is worth Rs 7034.44 crore, followed by Axis and UTI Mutual Fund with over 3.91 crore and 88.54 lakh shares which is worth Rs 3452 crore and Rs 3058 crore. Other stakeholders include HDFC MF, Nippon India MF, Aditya Birla Sun Life MF, and DSP Mutual Fund, holding approximately Rs 2782 crore, Rs 1916 crore, Rs 1830 crore, and Rs 1118 crore, respectively.

The stock has risen for four consecutive months, boasting a 26% increase in 2024 so far. It has shown consistent gains since January 2023, experiencing negative returns only in February, August, and October for a total of three months.

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