Quant Mid Cap Fund bought Rs 94 crore worth of shares of IndusInd Bank in February, before the crash

Quant Mid Cap Fund bought 9.50 lakh shares of IndusInd Bank in February which had a market value of Rs 94 crore just before the crash. The crash happened after multiple brokerages downgraded the stock and slashed target prices in the wake of an accounting discrepancy in its forex derivatives portfolio.

The midcap fund bought around 9.50 lakh shares of IndusInd Bank in February and added two other stocks to the portfolio in the mentioned period.

Other new entry

The midcap fund added 7.43 lakh shares of United Breweries and around 5.87 lakh shares of Premier Energies to the portfolio in the mentioned period.

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Complete exits

The fund made a complete exit from four stocks which include HUDCO, Mazagon Dock Shipbuilders, ITC Hotels, and GlaxoSmithKline Pharmaceuticals. Around 8.75 lakh shares of Mazagon Dock Shipbuilders and 38.99 lakh shares of HUDCO were sold out from the portfolio in February.

The fund also sold 4.13 lakh shares of GlaxoSmithKline Pharmaceuticals and 9.78 lakh shares of ITC Hotels from the portfolio in the same period.

Increase in stake

Quant Mid Cap Fund increased its stake in only one stock. Around 43.90 lakh shares of IRB Infrastructure Developers were added to the portfolio taking the total number of shares to 12.77 crore in February against 12.33 crore in January.

Reduced stake

Quant Mid Cap Fund reduced its stake in only one stock. Around 86.95 lakh shares of Steel Authority of India (SAIL) were reduced from the portfolio in the said period taking the total number of shares to 3.36 crore in February against 4.23 crore in January.

Status quo

The exposure in 22 stocks remained unchanged which includes Aditya Birla Fashion and Retail, LIC, IRCTC, NMDC, CRISIL, MRF, Bharat Forge, RIL, Aurobindo Pharma, Container Corporation of India, Tata Communications.

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According to the monthly release by the fund house, the majority of the portfolio of the fund is composed of mid-cap stocks and from both a medium-term and long-term perspective and this scheme is apt for long-term investors. Potential leaders of tomorrow form the bulk of the portfolio, with a broad range of companies at every stage of the business cycle. This provides a good mix of stocks with high growth potential and moderate risk levels.

The primary investment objective of the scheme is to seek to generate capital appreciation and provide long-term growth opportunities by investing in a portfolio of mid cap companies.

The fund manages an asset of Rs 7,616 crore as on February 28, 2025. Launched on March 20, 2001 the scheme is managed by Sandeep Tandon, Ankit Pande, Varun Pattani, Ayusha Kumbhat, Sanjeev Sharma. It is benchmarked against NIFTY MIDCAP 150 TRI.