Fund managers' calls go awry

Several of the top investment calls by India's leading equity fund managers in June haven't yielded the desired results. While their most-bought stocks have performed in line with the markets, some of the counters they have exited have seen gains. The Sensex is up nearly four per cent in July.

Besides Lupin and YES Bank, shares of other most-bought companies, including Sun Pharma, State Bank of India and Mahindra & Mahindra, have performed in line with or underperformed the Sensex. On the other hand, Vedanta, Tata Motors and Reliance Capital, among the most-sold stocks by fund managers, have gained 28 per cent, 11 per cent and eight per cent, respectively.