High cash levels in Budget week

Overall, the Smart Portfolios saw marginal losses up to 2 per cent. The benchmark S&P CNX 500 portfolio value was up marginally by 0.66 per cent from Rs 10.68 lakh to Rs 10.75 lakh. In the process, the benchmark's net worth is now up 7.48 per cent since the start of the new edition of Smart Portfolios on September 1, 2009.

NO TRADE WEEK
Phani Sekhar
Fund Manager – PMS, Angel Broking

Phani Sekhar who is almost fully invested preferred to stay on the sidelines in the Budget week. His net worth stands marginally unchanged at Rs 10.42 lakh, down 0.10 per cent, and he holds just Rs 2,044 in cash. Of the 15 stocks in his portfolio, seven are trading above his cost price. eClerx and Axis Bank with gains of around 25 per cent each are the top performers. On the other hand, Reliance Infrastructure and Bharti Airtel with losses of around 15 per cent each are the major laggards.
 

Top Holdings	% of assets	Cost Price (Rs)	Current Price (Rs)	Value (Rs lakh)
Federal Bank	9.32	244.54	258.35	0.97
Reliance	8.83	1046.93	978.95	0.92
Reliance Infra	8.67	1183.00	1003.45	0.90
eClerx	8.29	344.25	431.65	0.86
Esab India	7.90	475.00	567.25	0.82
Total investments	99.81	-	-	10.40
Cash	0.19	-	-	0.02
Net worth	-	-	-	10.42
Returns (%)	4.17	-	-	-

BOOKING LOSSES
Ajay Parmar
Head, Research (Institutional Equities) Emkay

Ajay Parmar executed eight trades, of which just two were on the buy side. His gross purchases totaled Rs 1.07 lakh while gross sales amounted to Rs 2.56 lakh. He averaged his cost in Cadila Healthcare and added Monsanto to his portfolio. On the sell side, Parmar booked a marginal gain of around 2 per cent on his investments in Bhushan Steel. Rest of his exits resulted in losses in the range of 9-15 per cent. The worst, with a loss of 14.56 per cent, was Orbit Corporation. He has now 11 stocks in his portfolio. Sesa Goa and Cadila Healthcare hold the highest weightage accounting for 17 per cent of his investments. Parmar now holds Rs 5.15 lakh as cash, and his net worth is up 21.12 per cent at Rs 12.11 lakh. Last week his net worth appreciated marginally by 0.75 per cent.

Top Holdings	% of assets	Cost Price (Rs)	Current Price (Rs)	Value (Rs lakh)
Sesa Goa	9.09	365.53	400.35	1.10
Cadila Health	7.88	721.02	763.70	0.95
Monsanto	5.63	1763.00	1703.45	0.68
OCL India	5.01	127.75	121.45	0.61
Lupin	4.96	1510.25	1500.70	0.60
Total investments	57.47	-	-	6.96
Cash	42.43	-	-	5.15
Net worth	-	-	-	12.11
Returns (%)	21.12	-	-	-

NET BUYER
Amar Ambani
Vice President (Research), India Infoline

Amar Ambani was the most active of the fund managers. Out of the 31 trades, 17 were on the buy side. In fact, he was a net buyer of stocks worth Rs 1.47 lakh. His gross purchases amounted to Rs 7.49 lakh, as against the gross sales of Rs 6.02 lakh. While he booked notable gains on his investment in Titagarh Wagons and Educomp Solutions, there were significant losses (10-18 per cent) on his investments in Nilkamal, Hindustan Oil Exploration, DLF and Orbit Corporation. Ambani's net worth now stands at Rs 12.19 lakh, up nearly 22 per cent, and his cash levels stand at Rs 4.61 lakh. Last week, his portfolio value declined marginally by 0.33 per cent.
 

Top Holdings	% of assets	Cost Price (Rs)	Current Price (Rs)	Value (Rs lakh)
IFCI	4.22	48.70	51.45	0.51
Ador Welding	4.11	172.00	172.60	0.50
Infotech Ent	3.98	340.00	346.15	0.48
IDFC	3.93	157.95	159.60	0.48