What fall in Infosys stock means for Mutual fund houses

Infosys is one of the most owned stocks by mutual funds in equity schemes.

Vishal Sikka, resigned from his post of MD & CEO of Infosys effective today. The stock was the top loser on both S&P BSE Sensex and Nifty.

The stock is down nearly 5 percent so far in 2017 compared to 20 percent rally seen in Nifty.

As per mutual fund research firm Morningstar, in July, the market value of mutual fund holdings in Infosys stood at Rs 21,094 crore compared with Rs 16,376 in July 2016.

Mutual funds held 21.23 crore shares of Infosys as on July 2017 compared with 15.42 shares a year ago.

According to the research data by Motilal Oswal that was released recently, during July, certain fund managers had shown conviction in Infosys as 12 funds had more than 2 percent exposure, while 8 had less than 2 percent holding.

Get Stock Market Tips by Ripples Financial Advisory- Or Call on 9644405056