Domestic mutual funds increased HDFC Bank stake despite March drop
Business
Even though HDFC Bank's shares dropped over 15% in March, their sharpest fall since 2020, domestic mutual funds actually bought more.
Their stake jumped to 29.54% by the end of March (up from 26.66% in December), while foreign investors trimmed their holdings a bit.
Retail shareholders rose above 4.1 million
It wasn't just big funds making moves: retail investors also got in, with the number of small shareholders climbing to over 4.1 million.
Despite the dip and market jitters, both mutual funds and regular folks seem to be betting on HDFC Bank for the long haul.