Tech stocks turn attractive for mutual funds amid pandemic
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IANS
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Published on
Wed, Apr 14 2021 17:57 IST
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Tech stocks turn attractive for mutual funds amid pandemic. Image Source: IANS News
Mumbai, April 14 : Technology stocks were among the favoured stocks among mutual funds amid the pandemic.
Technology sector saw a massive rise in weightage in FY21 to 11.9 per cent (up 300 bps YoY). The sector is now the second in terms of sectoral allocation by MFs, said a Motilal Oswal Financial Services Report. A year ago, it was in the third position.
In terms of value increase on a month-on-month increase in March, three of the top five stocks were from technology - Infosys (up Rs 7,000 crore), TCS (up Rs 3,960 crore), and HCL Tech (up Rs 1,690 crore).