Axis Bank, Infosys, ICICI Bank, Indiabulls Housing on fund managers' radar

Axis Bank, Infosys and ICICI Bank have emerged in the most-bought list of mutual fund managers for a second straight month. In November, fund managers pumped in Rs 11.8 billion, Rs 9.3 billion and Rs 6.3 billion, respectively, in these three stocks. Coal India and Indiabulls Housing Finance were also among the stocks that saw huge buying interest from equity mutual funds (MFs). On the other hand, money managers pulled money out of Maruti Suzuki, HDFC and IndusInd Bank. Shares of all three companies gained close to 15 per cent each in November. Experts say fund managers could have taken advantage of the rally to book profits. The Nifty gained 5 per cent in November after back-to-back months of correction when it fell as much as 15 per cent. The gains were supported by fall in Brent crude prices and rebound in the rupee against the dollar.


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