The domestic asset management company bought back into one stock, but it was truly four out of four in June 2022, when foreign institutional investors (FII) remained a clean seller of Indian equity for another month.

The special chemical maker Meghmani Finechem is the only stock that is liked by mutual funds, who invested RS 65 Lakh at the counter, said Idbi Capital.

The company benefits from significant revenue growth during FY22, when the profit is more than doubled to RS 253 Crore from RS 101 Crore in the previous year. Income jumped sharply to 1,551 Crore Hospital this year, compared to RS 829 Crore in the previous year; Operating profit almost doubled to RS 509 Crore from RS 261 Crore.

The asset manager is really out of four shares including GTPL Hathway where they sell shares worth RS 1.35 Crore and SML Isuzu, where sales are worth RS 66 LAKH in June, said IDBI Capital.

JK Tire & Industries and Jindal SAW are two other shares that are completely exit by mutual funds that sell RS 0.01 Crore (RS. 1 LAKH). A general meeting in the car room since March may have been used by Dana Houses to get out of additional shares and cars in June.

The car index rose more than 28 percent since the lowest March, turned out to be the biggest winner among the sectors in the same period, especially after the easing of metal prices, the main raw material for car companies.

Overall, the equity segment remains a favorite among mutual funds in June, and see more purchases than other segments. AMCS bought the equity and equity scheme of RS 15,498 Crore which was equity oriented during the month, although lower than RS 18,529 Crore, the purchase of the previous month. The debt -oriented scheme records RS 96,000 crore sales in June.

This seems to be a clear indication that mutual funds have used market correction as an opportunity to buy quality shares.

Even the inflows through the Systematic Investment Plan (SIP) by retail investors remain strong for another month, coming at the price of Rs 12,276 Crore over June against RS 12,286 Crore from the previous month.

During that month, the benchmark index corrected almost 5 percent. The fall in a wider market is higher than the decline in frontliners. MIDCAP 100 index and good Smallcap 100 fell 6.5 percent and 8 percent.

Apart from consistent FII sales, higher inflation, fear of tightening further aggressive policies by the central bank, rising oil prices and decreased revenue that is expected to trigger sales pressure in the market.

Apart from the correction witnessed by the mid -June market, retail investors continue to support equity funds with strong SIP flow. This is evidenced by the inlet that continues to remain strong in all categories,” said Kavitha Krishnan, senior analyst and analyst and senior analyst and analyst and Senior Analysts and Analysts and Analysts and Analysts and Analysts and Senior and Analysts in Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior and Senior Manager, Research, Morningstar India.

We have also witnessed a slight increase in the number of folio compared to last month. This is free from the high sales record of FII which we have witnessed during June 2022,” Krishnan said.

Large hats, large hats and mid-caps and flexi collects the most streams in the category of equity funds, although no new funds have been launched during June, added Krishnan.