Two of India’s top fund managers betting on Vodafone Idea’s revival

NEW DELHI: Vodafone Idea’s financial position remains precarious to say the least. Many on Dalal Street have pronounced it all but dead. But buy-sell data of mutual funds for June is throwing up some interesting trends.

Prashant Jain of HDFC AMC and Mahesh Patil of Aditya Birla MF, who are among top five fund managers in the country by assets, have put in big bets on Vodafone Idea’s survival. A couple of more prominent fund managers have also added the stock to their portfolios.

HDFC AMC bought 1.41 crore shares of the beleaguered telecom company in June. Vodafone was its biggest buy of the month in terms of the number of shares. Aditya Birla MF bought around 19 lakh shares of the company.