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Active managers continue to churn

Last Updated: Thu, Dec 30, 2010 20:51 hrs

T he broader markets picked-up steam in the last two trading days, otherwise, it could have been an extremely dull-week. Smart Portfolios saw reasonable activity with participation from three money managers who continued to churn their portfolios. Cumulatively, these three active managers, Ajay Parmar, Shishir Bajpai and Vinay Khattar were net sellers of stocks worth Rs 10,500.

Their purchases totaled Rs 11.24 lakh, while sales scaled to Rs 11.35 lakh. The benchmark S&P CNX Portfolio value appreciated 1.6 per cent to Rs 10.80 lakh. Similarly, fund managers, too, clocked gains of 1-4 per cent each.

Ajay Parmar
Ajay Parmar executed seven trades in the last five trading days, he bought stocks worth Rs 1.55 lakh and sold worth Rs 1.56 lakh. He holds a diverse portfolio of 21 stocks. His recent picks are from the sugar space — Bajaj Hindusthan, Balrampur Chini and Shree Renuka. He booked a loss of 20 per cent on his investment in Gulf Oil. Parmar also exited from GMDC and Gujarat NRE Coke for a loss of nearly 6 and 1 per cent, respectively. His net worth stands at Rs 10.51 lakh, up over 5 per cent, following a near 4 per cent surge this week.

Ajay Parmar, Head Research Institutional Equities, Emkay
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Unichem Labs 185.98 239.85 1.20
Natco Pharma 291.03 308.85 0.85
eClerx Services 546.00 720.50 0.72
Chambal Ferts 75.38 87.80 0.70
Bajaj Hindusthan 120.60 122.45 0.61
Total investments     10.42
Cash     0.09
Net worth     10.51

Shishir Bajpai
He was again seen churning his portfolio. He executed 18 trades this week, nine on each side. His gross purchases for the week exceeded gross sales by a margin of Rs 40,250 at Rs 7.17 lakh. He now holds nine stocks in his portfolio. Interestingly, he has the two newly listed PSUs, Coal India and Moil, in his portfolio. Given the high amount of churn, his oldest stock in the portfolio is hardly a fortnight old. Bajpai still holds Rs 3.75 lakh in cash, while his net worth has scaled up to Rs 13.51 lakh, up a whopping 35 per cent since the inception of season III.

Shishir Bajpai, Senior Vice President, IIFL Private Wealth
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
MOIL 458.17 451.35 1.35
Sterlite 178.70 188.70 1.32
Coal India 313.98 308.05 1.31
Tata Motors 1266.00 1300.15 1.30
Selan Exp. 425.34 415.45 1.25
Total investments     9.75
Cash      3.76
Net worth     13.51

Siddharth Bhamre
Siddharth Bhamre was the only fund manager to sit on the sidelines this week. His net worth appreciated by over 2 per cent to Rs 9.80 lakh. His last transaction dates December 7. Currently Bhamre holds 20 stocks in his portfolio. JK Tyres, Electrosteel Castings, Kingfisher Airlines, IVRCL Infrastructures, Century Textiles and Patel Engineering are some of the major laggards in his portfolio. He is fully invested in the markets, and would be very interesting to see how he turns things around in the time to come.

Siddharth Bhamre, Head-Equity Derivatives, Angel Broking
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Reliance Inds 1034.60 1051.20 0.79
Great Offshore 379.20 393.20 0.79
CESC 372.75 361.50 0.72
Aban Offshore 809.00 810.25 0.65
McLeod Russel 232.60 217.30 0.54
Total investments     9.80
Cash      0.00
Net worth     9.80

Vinay Khattar
Vinay Khattar executed six trades, three on each side. His net worth increased by a little over a per cent to Rs 10.80 lakh and is now up nearly 7 per cent since the start of Season-III. He holds just five stocks in his portfolio, all trading above his cost price. His investments at valued at Rs 4.60 lakh, while he holds cash of Rs 6.07 lakh. In the recent sell transactions, he booked a gain of almost 5 per cent on his investment in Bharti Airtel, while booked marginal losses in Petronet LNG and Aurobindo Pharma.

Vinay Khattar, Head – Research of WAIS, Edelweiss
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Hexaware Tech  113.15 116.95 1.05
Firstsource Solutions  24.50 24.80 1.01
MphasiS Ltd  661.35 673.00 1.01
Reliance Power Ltd  153.25 154.45 1.00
Essel Propack Ltd  58.35 58.65 0.52
Total investments     4.60
Cash     6.07
Net worth      10.66

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