ICICI Bank, Lenskart, Gujarat Gas Top May Mutual Fund
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- ICICI Bank emerged as the most-bought large-cap stock in May, attracting nearly ₹10,000 crore of mutual fund inflows, with HDFC Bank (₹7,530 crore) and Reliance Industries (₹7,000+ crore) rounding out the top three.
- Adani Enterprises and Eternal each drew more than ₹2,200 crore in large-cap buying, completing the top five alongside the banking and energy heavyweights.
- Lenskart Solutions topped the mid-cap list with ₹3,549 crore in inflows, followed by Billionbrains Garage Ventures (Groww's parent) at ₹2,937 crore and JSW Energy at ₹2,345 crore—the only energy name in the mid-cap top three.
- Gujarat Gas was the most-bought small-cap at nearly ₹4,000 crore, alone accounting for more than half of total buying among the top five small-cap names.
- Pine Labs (₹1,140 crore), Indraprastha Gas, Bandhan Bank and Sona BLW Precision Forgings filled the remaining small-cap slots, with Gujarat Gas and Indraprastha Gas together drawing about ₹4,724 crore from city gas distribution bets.
- Cross-segment themes: energy-related names (Reliance, JSW Energy, Gujarat Gas, Indraprastha Gas) collectively attracted ₹14,000+ crore, while digital and platform-led businesses (Eternal, Lenskart, Billionbrains, PB Fintech, Pine Labs) drew ₹10,500+ crore.
- Financials remained the dominant destination across all three categories, with ICICI Bank, HDFC Bank, Bandhan Bank, Billionbrains, PB Fintech and Pine Labs all featuring among the month's biggest purchases.
Why it matters: For retail investors tracking institutional money, the May flows show fund managers concentrating heavily in three baskets—private banks (₹17,530 crore into ICICI and HDFC alone), newly listed digital-platform plays like Lenskart and Groww-parent, and city gas distributors where Gujarat Gas alone was over half of all small-cap buying—signaling where professional research teams are placing conviction bets as the financial year-end approaches.
