Parag Parikh Financial Advisory Services Limited (PPFAS) Buys Private Banks, Sells Reliance Group Stocks in March

PPFAS Mutual Fund, led by Rajeev Thakkar, made major portfolio changes in March. The fund used the market correction to buy strong large-cap stocks while reducing exposure to select holdings.

Its cash allocation dropped slightly from 23% to 22%, but it still remains among the highest in the mutual fund industry.

Big Buying in Private Banks

The fund increased exposure to large private sector banks during the dip.

Key purchases:

• HDFC Bank – Bought shares worth ₹1,866 crore after the stock fell sharply in March.
• ICICI Bank – Added shares worth ₹563 crore.
• Kotak Mahindra Bank – Bought shares worth ₹861 crore.

HDFC Bank had fallen due to governance concerns after its chairman’s resignation, but reassurance from management and the RBI helped restore confidence.

Other Stocks Added

The fund also increased stakes in:

• Coal India – Added ₹605 crore worth of shares.
• Infosys – Bought shares worth ₹788 crore.

These purchases show the fund’s focus on strong large-cap businesses.

Major Stocks Sold

The fund reduced exposure to Reliance group companies and some other stocks.

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Top sales:

• Reliance Industries – Sold shares worth ₹595 crore.
• Jio Financial Services – Sold ₹135 crore worth of shares.

Other notable stake reductions:

• Eternal – Sold ₹189 crore.
• Bajaj Finance – Sold ₹169 crore.
• Balkrishna Industries – Sold ₹137 crore.

Conclusion

PPFAS used the market correction to strengthen its portfolio by buying quality banks and large caps while booking profits in the Reliance group and select stocks. This reflects its long-term, value-focused investment strategy.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.