Parag Parikh Flexi Cap Fund Boosts Stakes in ITC, TCS, HDFC Bank and More
Parag Parikh Flexi Cap Fund increase stake ITC, TCS, HDFC Bank and 14 other stocks in April
The Economic Times
Image: The Economic Times
In April, Parag Parikh Flexi Cap Fund increased its stakes in major companies including ITC, Tata Consultancy Services, and HDFC Bank. The fund added 1.91 crore shares of ITC, bringing its total to 24 crore shares. The total assets under management rose to ₹1.40 lakh crore.
- 01Parag Parikh Flexi Cap Fund increased its stake in ITC by adding 1.91 crore shares.
- 02The fund also boosted its holdings in Tata Consultancy Services and HDFC Bank.
- 03It made a complete exit from Balkrishna Industries, selling 22.74 lakh shares.
- 04The fund's total assets under management reached ₹1.40 lakh crore in April.
- 05The fund maintains a cash holding of 15.51% for future investments.
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In April, Parag Parikh Flexi Cap Fund significantly increased its investment in major companies, particularly adding 1.91 crore shares of ITC, raising its total to 24 crore shares. The fund also acquired 34.62 lakh shares of Tata Consultancy Services and 47.60 lakh shares of HDFC Bank. Additionally, it increased its stake in Indraprastha Gas by 3.73 crore shares and HCL Technologies by 1.04 crore shares. However, the fund completely exited its position in Balkrishna Industries, selling 22.74 lakh shares. The fund's total assets under management grew to ₹1.40 lakh crore from ₹1.28 lakh crore in March. The fund's strategy focuses on individual company merits rather than macroeconomic conditions, maintaining 15.51% of its portfolio in cash for potential long-term investments.
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The increased investment in major companies could lead to greater stability and growth in the stock market, benefiting investors and stakeholders in these firms.
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