According to a report by The Economic Times, Jio Financial and Tata Power were among the top 10 large-cap stocks bought by mutual funds in September 2022. Mutual funds were net buyers of these stocks, indicating that they have a positive outlook on their future performance. Jio Financial, the financial services arm of Reliance Industries, saw a net inflow of Rs 2,541 crore (approximately $335 million USD) from mutual funds, making it the third most-bought large-cap stock by funds in September. Tata Power, India’s largest power utility company, received a net inflow of Rs 1,444 crore (approximately $187 million USD). Other top buys included Maruti Suzuki, Hindustan Unilever, and ITC. The move by mutual funds to invest in these large-cap stocks suggests that they expect these companies to perform well in the coming quarters, driven by factors such as their market share, financials, and future growth prospects.
Jio Financial and Tata Power figure among the top 10 large-cap stocks acquired by mutual funds in September.
