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Bajpai, Khattar adopt converse strategies

Last Updated: Thu, Dec 16, 2010 20:41 hrs

The markets, although volatile, largely traded with a positive bias and that’s what helped the Smart Portfolios log gains this week. The two most striking features of the week were: Ajay Parmar and Siddarth Bhamre, who are fully invested, stuck to their holdings and Shishir Bajpai and Vinay Khattar adopted converse strategies. While the former turned a net seller for the week, the latter was an aggressive buyer. The Smart Portfolios benchmark, the S&P CNX 500 index, portfolio value was up 3.4 per cent at Rs 10.57 lakh. The benchmark’s net worth is up 5.7 per cent when compared to the start of Smart Portfolios season III on September 1, 2010.

Ajay Parmar
Ajay Parmar has been on the sidelines for exactly a month now. This week, his portfolio value appreciated nearly 5 per cent to Rs 10.35 lakh. As mentioned last week, his net worth seems to be under pressure mainly on account of significant exposure to midcap and smallcap stocks. Stocks like LIC Housing Finance, Manali Petrochemical, Gulf Oil Corporation, Gitanjali Gems and Zuari Industries are the major laggards. However, select stocks like Unichem Laboratories, eClerx Services and Aurobindo Pharma have performed well. His total investments are valued at Rs 10.26 lakh, and he holds marginal cash of Rs 8,866.

AJAY PARMAR, Head Research Institutional Equities, Emkay
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Unichem Labs 185.98 263.75 1.32
Natco Pharma 291.03 319.45 0.88
eClerx Services 546.00 701.35 0.70
Chambal Ferts 75.38 82.85 0.66
Infinite Comp 181.60 177.25 0.53
Total investments     10.26
Cash     0.09
Net worth     10.35

Shishir Bajpai
Shishir Bajpai has revamped his entire portfolio in the last couple of trading days. From his earlier holdings, the prominent exits include a gain of 6.5 per cent and 3.5 per cent each in Pipavav Shipyard and Delta Corp respectively. Cipla and Hindalco with losses of 4.4 per cent and 2.8 per cent were the top losers. Interestingly, despite being a net seller of stocks worth Rs 3.58 lakh, he also made fresh purchases in quite a few heavyweights: TCS, Tata Motors, ONGC and HCL Technologies. Also, the debutant MOIL features in his portfolio. Crest Animation with a gain of over 24 per cent is the top performer in his portfolio. Bajpai’s net worth soared 10.5 per cent to Rs 13.28 lakh, and he now holds cash of Rs 3.61 lakh.

SHISHIR BAJPAI, Senior Vice President, IIFL Private Wealth
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Sterlite 170.10 172.55 1.29
Crest Animation 67.75 84.15 1.26
TCS 1092.90 1140.70 1.14
Jai Balaji 255.00 267.05 1.07
Tata Motors 1313.65 1347.00 1.01
Total investments     9.67
Cash      3.61
Net worth     13.28

Siddarth Bhamre
Siddarth Bhamre was also on the sidelines, while his net worth rose 4.3 per cent to Rs 9.53 lakh. Just like Parmar, the sudden deep cut in some of the midcap and smallcap stocks has been a cause of worry for Bhamre’s net worth as well. Some of the prominent laggards are IRVCL Infrastructures, Hindustan Construction, Unitech, Moser Baer, Century Textiles, Electrosteel Castings, Kingfisher Airlines and JK Tyre.

SIDDARTH BHAMRE, Head-Equity Derivatives, Angel Broking
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Reliance Inds 1034.60 1056.85 0.79
CESC 372.75 371.15 0.74
Great Offshore 379.20 368.55 0.74
Aban Offshore 809.00 708.75 0.57
IVRCL Infra 161.55 126.75 0.51
Total investments     9.52
Cash     0.00
Net worth     9.53

Vinay Khattar
Vinay Khattar was the only other active fund manager. He was an aggressive buyer of stocks worth Rs 3.96 lakh. Incidentally, his current holdings are just a week old. Some of his top picks are DLF, Shree Renuka Sugars, SAIL and Unitech. On the other hand, he booked losses in the range of 2-3.5 per cent on his holdings in Idea Cellular, Bharti Airtel and Dr Reddy’s Laboratories. Khattar’s total investments are valued at Rs 7.18 lakh and he holds 3.32 lakh cash.

VINAY KHATTAR, Head – Research of WAIS, Edelweiss
Top Holdings Cost
price (Rs)
price (Rs)
(Rs lakh)
Shree Renuka 76.55 89.70 1.16
Whirlpool of India 255.00 272.25 1.05
SAIL 180.85 188.25 1.04
Lupin 446.70 454.45 1.02
Aurobindo Phar 1321.40 1323.00 1.00
Total investments     7.18
Cash     3.32
Net worth     10.50

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