New Delhi, May 21 -- Beaten-down large-cap IT stocks were among the most bought stocks by value investor Rajeev Thakkar-led PPFAS Mutual Fund in the month of April, while several public sector stocks faced selling as the fund house reduced cash holdings last month.

PPFAS Mutual Fund deployed Rs.1,768 crore last month, bringing down its cash allocation to 18.71% of the total assets.

The churn in the portfolio comes as the Indian stock market grapples with high volatility in the backdrop of the US-Iran war that began late February and is in its third month now.

According to data from PRIME Database, HCL Technologies, Infosys, and Tata Consultancy Services (TCS) remained the top three stocks in which the fund raised its stake last month, ...