Mutual funds invested nearly ₹6,000 crore in Reliance Industries in September, while strong SIP and small-cap inflows pointed to renewed appetite for growth stocks despite market volatility.
Mutual funds turned buyers of Reliance Industries in September, making the energy-to-retail conglomerate the most-added stock in their portfolios for the month, according to data compiled by Prime Database and reported by Business Standard. Fund managers deployed nearly ₹6,000 crore into the stock, with the buying tied in part to expectations around the proposed initial public offering of Jio Platforms, Reliance’s digital subsidiary.
BSE was the next biggest purchase, drawing more than ₹5,500 crore in net mutual fund inflows. Business Standard said the demand was lifted by a block trade on September 30, when mutual funds absorbed much of the stock sold by Goldman Sachs and BNP Paribas. HDFC Bank, ICICI Bank and Swiggy also featured among the most-bought names, highlighting continued interest in financials and consumer-facing businesses.
The National Stock Exchange also attracted heavy buying, with around ₹3,408 crore of investments, including pre-IPO and anchor allocations, according to the same data. PB Fintech, which had fallen sharply after new regulatory norms were introduced, still found a place among the 15 most-bought stocks, with mutual funds adding shares worth roughly ₹1,747 crore.
The buying spree came alongside a marked appetite for equity mutual funds more broadly. Livemint reported that systematic investment plan inflows hit a record ₹32,490 crore in September, while Moneycontrol said small-cap funds drew ₹9,039 crore, the highest across equity categories. Mid-cap funds also saw strong interest, suggesting investors remained willing to back growth-oriented segments despite market volatility.
At the same time, fund managers trimmed exposure to several large technology and industrial names. Business Standard said Wipro, Larsen & Toubro and Tata Consultancy Services were among the most-sold stocks during the month. That contrast points to a broader portfolio rotation, with mutual funds concentrating fresh money in index-heavy financial and infrastructure-linked names while taking profits in other established holdings.
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