Parag Parikh Flexi Cap doubles IGL, MGL; adds ITC
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- Parag Parikh Flexi Cap Fund (₹1.42 lakh crore) added no new stocks in May, choosing instead to deepen existing bets across the portfolio.
- Indraprastha Gas (IGL) and Mahanagar Gas (MGL) recorded the largest percentage increases, with IGL's allocation rising from 0.45% to 1% and MGL's from 0.03% to 0.07% of assets.
- ITC saw holdings jump from 24.3 crore to 28.8 crore shares — an increase of more than 4.4 crore shares during the month.
- HDFC Bank, ICICI Bank, and Kotak Mahindra Bank each received additional buying, with HDFC Bank remaining the fund's top holding at 7.88% of assets.
- Cipla was the only stock trimmed, and the fund made no full exits; cash, debt and arbitrage allocation fell roughly 1 percentage point to about 15% of assets.
- Overseas holdings in Alphabet, Amazon, Meta Platforms, and Microsoft were unchanged, while among REITs only Brookfield India Real Estate Trust saw added exposure.
Why it matters: As India's largest active equity fund at ₹1.42 lakh crore, Parag Parikh's portfolio moves carry weight — and the doubling of IGL and MGL stakes marks a clear tactical bet on city gas distribution. The absence of any new stock pick and the lack of any full exit reinforce the scheme's low-turnover, conviction-led approach.
