Market Outlook
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August 13, 2020 Highlights Equity funds witnessed outflows for the first time in four years in July 2020 at | 2480 crore. Few investors seem to have used the recent rally Mutual Fund Activity to book profits/reduce equity exposure as gross• inflowsPRODUCTremain 1 stable while redemption increased in the last two months While SIP inflows moderated, they remained strong at | 7831 crore in July compared to | 7927 crore in June Retail Equity Research Equity Retail – Research Analysts Sachin Jain Securities ICICI [email protected] Top buy/sell across AMCs: Large Cap Market Value(crs) Shares(lakhs) Top 10 Buys in Largecap Jul-20 Jun-20 Jul-20 Jun-20 Piramal Enterprises Ltd. 223 176 15 13 UPL Ltd. 1906 1465 399 345 JSW Steel Ltd. 1379 1084 626 572 Among large caps, Piramal Enterprises, UPL, JSW Steel, NMDC Ltd. 1039 929 1240 1145 NMDC and Petronet LNG witnessed highest buying during the Petronet LNG Ltd. 3178 3074 1282 1191 month of July 2020 SBI Cards And Payment Services Ltd. 1903 1535 262 244 Tata Consultancy Services Ltd. 23079 19753 1012 949 Dr. Reddys Laboratories Ltd. 7945 6592 176 167 Nestle India Ltd. 7606 7539 46 44 Bajaj Finserv Ltd. 3909 3562 63 61 Market Value(crs) Shares(lakhs) Top 10 Sells in Largecap Jul-20 Jun-20 Jul-20 Jun-20 DLF Ltd. 427 602 303 407 Siemens Ltd. 993 1155 85 105 Bharti Infratel Ltd. 783 1088 407 491 Large cap stocks, which saw selling by AMCs at a Eicher Motors Ltd. 4422 4660 21 25 Punjab National Bank 517 656 1620 1888 consolidated level were DLF, Siemens, Bharti Infratel, Eicher Bajaj Auto Ltd. 2413 2636 80 93 Motors and PNB Biocon Ltd. 2008 2200 490 564 Research Equity Retail – Vedanta Ltd. 4253 4550 3737 4276 Hindustan Zinc Ltd. 294 300 140 153 Dabur India Ltd. 2779 2752 541 591 ICICI Securities Securities ICICI Source: ACE MF, ICICI Direct Research. Note: Largecaps/Midcaps/Smallcaps as defined by AMFI. Socks above | 50 crore holding were considered ICICI Securities Ltd. | Retail MF Research 2 Top buy/sell across AMCs: Midcap Market Value(crs) Shares(lakhs) Top 10 Buys in Midcap Jul-20 Jun-20 Jul-20 Jun-20 Yes Bank Ltd. 211 1 2009 249 Glenmark Pharmaceuticals Ltd. 422 299 93 66 Mindtree Ltd. 1120 728 103 79 In midcaps, stocks like Yes Bank, Glenmark Pharma, PI Industries Ltd. 5684 3833 323 255 PVR Ltd. 991 764 91 76 Mindtree, PI Industries and PVR buying during the month of Ashok Leyland Ltd. 1372 1147 2821 2442 July 2020 L&T Technology Services Ltd. 665 492 44 38 Metropolis Healthcare Ltd. 1131 862 72 63 Mphasis Ltd. 1671 1127 144 128 Minda Industries Ltd. 611 525 213 192 Market Value(crs) Shares(lakhs) Top 10 Sells in Midcap Jul-20 Jun-20 Jul-20 Jun-20 Vodafone Idea Ltd. 353 891 4205 8402 Mahindra & Mahindra Financial Services Ltd. 654 988 502 965 Future Retail Ltd. 134 252 122 195 Aavas Financiers Ltd. 380 463 28 35 Midcap stocks, which saw selling by AMCs were Vodafone Steel Authority Of India Ltd. 353 376 1037 1236 Idea, M&M Financial Services, Future Retail, Aavas Syngene International Ltd. 1407 1362 289 340 Research Equity Retail Alembic Pharmaceuticals Ltd. 793 855 80 94 Financiers and SAIL – Polycab India Ltd. 248 278 30 35 Adani Enterprises Ltd. 192 195 109 125 Indian Railway Catering & Tourism Corpn. Ltd. 241 280 18 21 ICICI Securities Securities ICICI Source: ACE MF, ICICI Direct Research. Note: Largecaps/Midcaps/Smallcaps as defined by AMFI. Socks above | 50 crore holding were considered ICICI Securities Ltd. | Retail MF Research 3 Top buy/sell across AMCs: Smallcap Market Value(crs) Shares(lakhs) Top 10 Buys in Smallcap Jul-20 Jun-20 Jul-20 Jun-20 KRBL Ltd. 105 28 39 11 Indiamart Intermesh Ltd. 495 211 18 9 Arvind Fashions Ltd. 176 163 143 98 In small caps, stocks like KRBL, IndiaMART Intermesh, Arvind E.I.D. Parry (India) Ltd. 68 50 24 18 Fashions, EID Parry and TeamLease witnessed highest buying TeamLease Services Ltd. 381 285 21 17 in July 2020 Suven Pharmaceuticals Ltd. 271 172 43 37 Gulf Oil Lubricants India Ltd. 177 155 31 27 DCM Shriram Ltd. 81 67 24 21 Apex Frozen Foods Ltd. 50 51 22 20 Ceat Ltd. 257 245 30 27 Market Value(crs) Shares(lakhs) Top 10 Sells in Smallcap Jul-20 Jun-20 Jul-20 Jun-20 FDC Ltd. 167 220 56 79 Lakshmi Machine Works Ltd. 149 190 5 7 Tejas Networks Ltd. 61 65 106 136 Small cap stocks, which saw selling by AMCs were FDC, eClerx Services Ltd. 301 356 63 80 Future Lifestyle Fashions Ltd. 87 137 76 92 Lakshmi Machine Works, Tejas Network, eClerx Services and NCC Ltd. 199 231 688 793 Future Lifestyle Fashions Research Equity Retail Mangalore Refinery & Petrochemicals Ltd. 138 160 379 436 – Cochin Shipyard Ltd. 257 267 78 89 IRB Infrastructure Developers Ltd. 257 212 213 239 Laurus Labs Ltd. 472 293 51 56 ICICI Securities Securities ICICI Source: ACE MF, Note: Largecaps/Midcaps/Smallcaps as defined by AMFI. Socks above |50 crores holding were considered ICICI Securities Ltd. | Retail MF Research 4 AMC wise: Top Buys and Top Holdings SBI AMC SBI AMC Market Value(crs) Shares(lakhs) Market Value(crs) Shares(lakhs) Top 10 Buys Top 10 Holdings Jul-20 Jun-20 Jul-20 Jun-20 %Change Jul-20 Jun-20 Jul-20 Jun-20 %Change PVR Ltd. 78 0.3 7 0.03 23284% Reliance Industries Ltd. 17986 15432 870 906 -4% City Union Bank Ltd. 174 49 144 40 256% HDFC Bank Ltd. 16936 17444 1640 1637 0% Supreme Industries Ltd. 64 17 5 2 233% Infosys Ltd. 11411 8563 1181 1164 2% HDFC Life Insurance Co Ltd. 1450 793 231 145 60% ICICI Bank Ltd. 8628 8898 2488 2532 -2% GE T&D India Ltd. 151 87 181 116 56% Housing Development Finance Corporation Ltd.8411 8372 472 477 -1% Torrent Pharmaceuticals Ltd. 118 69 4 3 53% Kotak Mahindra Bank Ltd. 7796 7772 571 571 0% NHPC Ltd. 130 91 638 457 40% Bharti Airtel Ltd. 6921 7021 1247 1254 -1% Voltas Ltd. 139 96 23 18 32% Tata Consultancy Services Ltd. 6595 6004 289 288 0% PI Industries Ltd. 999 674 57 45 27% ITC Ltd. 6167 6229 3177 3200 -1% Petronet LNG Ltd. 340 288 137 112 23% Hindustan Unilever Ltd. 4935 4918 223 226 -1% HDFC AMC HDFC AMC Market Value(crs) Shares(lakhs) Market Value(crs) Shares(lakhs) Top 10 Buys Top 10 Holdings Jul-20 Jun-20 Jul-20 Jun-20 %Change Jul-20 Jun-20 Jul-20 Jun-20 %Change Yes Bank Ltd. 196 96% 1639 4 43826% ICICI Bank Ltd. 8328 8451 2401 2404 0% ACC Ltd. 76 4 5 0 1809% Infosys Ltd. 8328 6198 862 842 2% Muthoot Finance Ltd. 96 8 8 1 963% State Bank Of India 6281 5855 3281 3281 0% Wipro Ltd. 419 73 149 33 347% Larsen & Toubro Ltd. 5632 5857 617 621 -1% Tech Mahindra Ltd. 339 133 50 24 104% ITC Ltd. 5369 5414 2765 2781 -1% Jindal Steel & Power Ltd. 460 319 249 198 26% Reliance Industries Ltd. 5183 5567 251 327 -23% HCL Technologies Ltd. 383 242 54 43 25% HDFC Bank Ltd. 4739 5129 459 481 -5% Research Equity Retail United Spirits Ltd. 52 46 9 8 15% Power Grid Corporation Of India Ltd. 4144 4061 2324 2323 0% – Sun Pharmaceutical Industries Ltd. 884 690 166 146 14% NTPC Ltd. 3862 4258 4439 4445 0% Britannia Industries Ltd. 91 78 2 2 11% Aurobindo Pharma Ltd. 3661 3387 419 439 -5% ICICI Securities Securities ICICI Source: ACE MF, ICICI Direct Research. Note: Stock holding above | 50 crore is considered ICICI Securities Ltd. | Retail MF Research 5 AMC wise: Top Buys and Top Holdings ICICI Prudential AMC ICICI Prudential AMC Market Value(crs) Shares(lakhs) Market Value(crs) Shares(lakhs) Top 10 Buys Top 10 Holdings Jul-20 Jun-20 Jul-20 Jun-20 %Change Jul-20 Jun-20 Jul-20 Jun-20 %Change Metropolis Healthcare Ltd. 107 37 7 3 151% Bharti Airtel Ltd. 8486 8543 1529 1526 0% Alkem Laboratories Ltd. 123 53 5 2 106% Infosys Ltd. 7330 6136 759 834 -9% Arvind Fashions Ltd. 65 49 53 29 80% ICICI Bank Ltd. 6500 6508 1874 1852 1% Divis Laboratories Ltd. 351 196 13 9 56% NTPC Ltd. 6461 7115 7427 7427 0% Hexaware Technologies Ltd. 95 62 25 18 35% HDFC Bank Ltd. 5992 6683 580 627 -7% Torrent Pharmaceuticals Ltd. 118 81 4 3 30% Reliance Industries Ltd. 4934 4203 239 247 -3% JSW Steel Ltd. 83 57 38 30 26% Sun Pharmaceutical Industries Ltd. 3955 3641 744 770 -3% PI Industries Ltd. 1257 922 71 61 16% ITC Ltd. 3847 3883 1981 1995 -1% Hindustan Petroleum Corporation Ltd. 279 243 130 112 16% Hindalco Industries Ltd. 2939 2721 1802 1861 -3% Adani Ports and Special Economic Zone Ltd.120 114 38 33 15% Axis Bank Ltd. 2686 2873 622 707 -12% Nippon AMC Nippon AMC Market Value(crs) Shares(lakhs) Market Value(crs) Shares(lakhs) Top 10 Buys Top 10 Holdings Jul-20 Jun-20 Jul-20 Jun-20 %Change Jul-20 Jun-20 Jul-20 Jun-20 %Change Crompton Greaves Consumer Electricals Ltd.54 3 22 1 1575% HDFC Bank Ltd. 5231 5341 507 501 1% PVR Ltd. 121 21 11 2 424% ICICI Bank Ltd. 4511 4199 1301 1195 9% JK Cement Ltd. 52 11 3 1 314% Infosys Ltd. 3444 2884 357 392 -9% KRBL Ltd.