Synopsis
Analysts said V-Mart has seen a better recovery than other apparel retailers due to its focus on smaller towns and largely on high streets.
Only stocks that were part of the BSE500 pack and had seen at least 500 basis points rise in MF holding over the last one year were picked for this study.
NEW DELHI: Domestic fund managers raised exposure to 17 stocks for the fourth straight quarter, only to see half of them lag Sensex’s 43 per cent return for the last one year.
They included Zydus Wellness, V-Mart Retail, Page Industries, Westlife Development, CCL Products (India), Fortis Healthcare, Can Fin Homes, Orient Electric and Phoenix Mills (See Table). Only those stocks were picked for this study, which were part of the BSE500 pack and had seen at least 500 basis points rise in MF holding over the last one year.
Half of Indian fund managers conviction ideas fail to match Sensex returns
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market outlook: Ahead of Market: 12 things that will decide stock action on Thursday
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Basic materials stocks were trading in the positive zone, with the S&P BSE Basic Materials index rising 61.45 points or 1.58% at 3953.67 at 09:49 IST. Among the components of the S&P BSE Basic Materials index, Hindustan Copper Ltd (up 15.6%), Indian Metals & Ferro Alloys Ltd (up 7.17%),Camlin Fine Sciences Ltd (up 6.55%),Vedanta Ltd (up 5.18%),Gujarat Narmada Valley Fertilizers & Chemicals Ltd (up 5.02%), were the top gainers. Among the other gainers were Steel Authority of India Ltd (up 4.98%), Vikas Wsp Ltd (up 4.98%), Hindalco Industries Ltd (up 4.59%), Sharda Cropchem Ltd (up 4.02%), and Godawari Power & Ispat Ltd (up 3.69%). On the other hand, Mangalore Chemicals & Fertilizers Ltd (down 4.07%), DCW Ltd (down 2.87%), and Century Plyboards (India) Ltd (down 2.11%) moved lower.