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Team Prashant Jain at HDFC MF doubled down on top PSU stock bets in February


Team Prashant Jain at HDFC MF doubled down on top PSU stock bets in February
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Synopsis
Despite the criticism, Prashant Jain has stood by his top conviction ideas in the PSU space, as they aligned with his value investing style and his belief that the real economy would pick up sharply once the Covid-19 pandemic abates.
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In the past, Prashant Jain has come under flak for his bets on certain state-owned companies and public sector banks.
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MUMBAI: The investment team at HDFC Mutual Fund, led by Chief Investment Officer and Executive Director Prashant Jain, doubled down on non-financial state-owned companies in February amid optimism for the real economy and the government’s roadmap for aggressive disinvestment in the coming years. ....

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Burger King shares: What long term? MFs dumped most Burger King shares within a month


MUMBAI: The listing of Burger King in mid-December was seen as one of the highlights of ongoing Bull Run in the Indian stock market. The company’s shares, which were priced at Rs 60 apiece during the IPO, more than doubled investors’ money in market debut.
In the subsequent days, the stock nearly quadrupled from its IPO price to hit a high of Rs 214. Those rapid gains changed the narrative around Burger King’s IPO, as the stock went from being the poster child of the bull market to a symbol of the euphoria among investors.
Domestic mutual funds, who had invested in the company’s anchor issue, perhaps thought the same way, as they dumped a large number of shares of the company once their lock-in period ended in January. Seven out of the eight mutual funds, which had participated in Burger King’s anchor issue, sold a large portion of their allotted shares in January. ....

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