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Fund managers in action as markets ride high

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The last two weeks (From November 23 to December 7) were eventful for . The benchmark indices posted their biggest weekly gain in six months on the back of reforms optimism sparked by the United Progressive Alliance government’s winning the vote on foreign direct investment (FDI) in multi-brand retail in both houses of .

The last fortnight also brought the news that FII (foreign institutional investors) inflows crossed the $20-billion mark for the January-November period. On the global front too, there were positives cues from both the US and Asian markets, as US President hinted at a fiscal cliff deal “in about a week” if Republicans agreed to hiking taxes on the wealthiest Americans.

During the fortnight, all six were active.

A K PRABHAKAR
Sr VP (Equity Research), Anand Rathi Financial Services

Prabhakar carried out several transactions during the period under review. He bought Reliance Capital, Bayer CropScience, Procter and Gamble Hygiene and Health Care, Shoppers Stop, West Coast Paper Mills, Karur Vysya Bank and Bajaj Corp, while he exited from Cummins India, Thermax, HSIL, Bharat Forge, GIC Housing Finance, ING Vysya Bank and BASF India.

Prabhakar believes the overall market sentiment will remain positive as the government won the retail FDI vote, which further creates expectations on other pending bills. He reiterates that stock-specific action is the way forward. Reasoning his buy on West Coast Paper Mills, he says there is potential in the stock if the deal between the world’s largest paper company International Paper and SK Bangur group goes through, which is very much at a premium.
 

A K PRABHAKAR
Top holdings Cost
price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Bajaj Corp  202.45 221.50 1.10
Karur Vysya Bank  482.20 513.90 1.02
P & G Hygiene and Health Care  2575.42 2553.85 1.02
Reliance Capital  450.07 446.55 0.98
EID Parry India  230.17 229.30 0.92
Total investments     7.90
Cash      3.32
Net worth     11.22

His current top holdings include Bajaj Corp, Karur Vysya Bank, Procter and Gamble Hygiene and Health Care, Reliance Capital and EID Parry (India). Prabhakar’s net worth is at Rs 11.22 lakh, up 12.21 per cent.

SHARDUL KULKARNI
Head, Technical Research, Angel Broking

Kulkarni made a few transactions during the week. He exited Hindalco Industries, Lovable Lingerie and Speciality Restaurants, and bought Shree Renuka Sugars. His top holdings, as of now, include Jindal Steel and Power, Reliance Industries, Reliance Infrastructure, CEAT, and Shree Renuka Sugars.
 

SHARDUL KULKARNI
Top holdings Cost
price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Jindal Steel & Power  408.31 376.10 1.10
Reliance Industries  845.62 765.85 1.03
Reliance Infrastructure  480.40 460.15 1.01
CEAT 

108.27

104.70 1.05
Shree Renuka Sugars  31.83 34.10  1.02
Total investments     9.35
Cash      2.03
Net worth     11.38

Kulkarni’s net worth is at Rs 11.38 lakh, up 13.81 per cent.


Fund Manager, Centrum Wealth

Fernandes adjusted his potfolio during the period under review as he exited from Tide Water Oil Co and Bharat Electronics. Meanwhile, he bought Jammu and Kashmir Bank and MRF.

He expects equity market to see a happy 2012 ending with possible gains of close to 30 per cent. He adds the final trigger for the market turnaround will be when domestic institutional investors (DIIs) will turn buyers as it would be difficult for them to remain net sellers when the macro picture turns positive. Foreseeing the good times, he picked two ‘value-based’ names like Jammu and Kashmir Bank and MRF.
 

NAVEEN FERNANDES
Top holdings Cost
price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Karur Vysya Bank  394.99 513.90 1.30
MRF  10603.13 11786.50 1.17
ITC  266.98 301.50 1.14
NESCO  686.71 747.70 1.08
Reliance Capital  412.68  446.55 1.06
Total investments     10.39
Cash      1.02
Net worth     11.41

His current top holdings include Karur Vysya Bank, MRF, ITC, Nesco and Reliance Capital.

Fernandes’s net worth is at Rs 11.41 lakh, up 14.13 per cent.


CMD, CNI Research

Ostwal had a single transaction where he added DLF to his portfolio in the corresponding period.

Ostwal opines that till December 18, the momentum will be high even though sporadic profit booking can be seen. So he would wait till then before making any new moves.

Also, the year-end bonus considerations and NAV (net asset value) will continue to drive the market. He hopes Nifty will test 6,200 if the index does not break 5,820. Commenting on his inactive status for several weeks, he pointed that it’s difficult to find good value bets and also that his picks are still trailing the expected valuations.

His current top holdings include Tata Steel, Karnataka Bank, Century Textiles and Industries, BF Utilities and Siemens.
 

KISHOR OSTWAL
Top holdings Cost
price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Tata Steel  400.50 394.25 0.98
Century Textiles & Industries  368.22 430.10 0.86
Karnataka Bank  118.50 175.50 0.88
Siemens  691.67 682.30 0.68
BF Utilities   400.30 363.80 0.73
Total investments     6.56
Cash      4.24
Net worth     10.80

Ostwal’s net worth is at Rs 10.80 lakh, up 8 per cent

SACHIN SHAH
Fund Manager, Emkay Investment Managers

Shah was the most active during the weeks under consideration. He churned his portfolio by taking positions in Ajanta Pharma, LIC Housing Finance, Cipla, ICICI Bank, NIIT Technologies and Zee Entertainment Enterprises. Meanwhile, he booked profits in Exide Industries, ITC, ICICI Bank, IDFC, LIC Housing Finance, PTC India, Nesco, Zee Entertainment, Karur Vysya Bank, ING Vysya Bank, Hathway Cable and Datacom, Reliance Industries and ICICI Bank.

His current top holdings include Cipla, IDFC, Biocon, Divis Laboratories and PTC India.
 

SACHIN SHAH
Top holdings Cost
price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Cipla  373.26 410.70 0.92
Biocon  288.10 286.50 0.72
IDFC  135.14 175.45 0.61
Divis Laboratories  1048.72 1181.55 0.59
PTC India  63.14 76.25  0.57
Total investments     8.60
Cash      2.83
Net worth     11.43

Shah’s net worth is at Rs 11.43 lakh, up 14.28 per cent.

TAHER BADSHAH
Sr VP and co-head equities, Motilal Oswal AMC - PMS

Badshah carried out a couple of transactions on the buy and sell side. He exited Tata Motors and United Spirits, while he bought Bajaj Auto and Strides Arcolab. Badshah believes markets will remain firm though there maybe sideways movement for a while.

According to him, stock-specific action is set to continue. He added Bajaj Auto to his portfolio as he expects the motorcycle industry volumes to pick up after the recent inventory correction.
 

TAHER BADSHAH
Top holdings Cost
price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Maruti Suzuki India  1332.81 1509.95 1.13
Unitech  26.63 35.05 0.87
Housing Development Finance Corp 740.41 837.75 0.84
Multi Commodity Exchange of India 1290.71 1540.25 0.77
United Spirits  1186.35 1916.80 0.76
Total investments     12.20
Cash      0.01
Net worth     12.21

His top holdings include Maruti Suzuki India, United Spirits, Unitech, HDFC and MCX.

Badshah’s net worth is at Rs 12.21 lakh, up 22.02 per cent.


For , visit www.smartinvestor.in/sp  

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