Poonawalla Fincorp, Dixon Tech, RHI Magnesita among top 20 stocks shopped by MFs in April

Indian mutual funds increased their holdings in midcap and smallcap stocks across various sectors following the recovery that the domestic equity market saw in April. The S&P BSE Midcap and Smallcap indices net gained 6% and 7.3%, respectively, outperforming the Sensex. Some of the top midcap buys included Star Health Allied Insurance, Poonawalla Fincorp, Dixon Technologies, GMR Airports and Piramal Enterprises, while the top smallcap buys included PNB Housing Finance, RHI Magnesita, Mastek and Eureka Forbes. Mutual funds have been increasing their ownership in these stocks consistently over the last few months.