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Fund managers in exit mode

Source : BUSINESS_STANDARD
Last Updated: Thu, Jan 06, 2011 20:30 hrs

As we moved from one calendar year to another, the markets too changed tack and witnessed a bout of profit-taking in the three trading sessions. Fund managers were seen in exit mode, as a vast majority, 19 of the 24 trades, were on the sell side. The three active portfolio managers, Ajay Parmar, Shishir Bajpai and Vinay Khattar, cumulatively sold stocks worth Rs 8.77 lakh.

The S&P CNX 500 index’s benchmark portfolio value declined 0.7 per cent to Rs 10.72 lakh. Meanwhile, fund managers exhibited a mixed outing. Bajpai and Siddharth Bhamre logged gains of 0.3 and 0.7 per cent each. On the other hand, Parmar incurred a loss of almost one per cent and Khattar’s net worth was down 0.3 per cent.

Ajay Parmar
Ajay Parmar executed eight trades, all of which were on the sell side. He booked sharp gains of 29 per cent on his investment in Unichem Laboratories. Chambal Fertilisers and GEI Industrial Systems also gave him decent returns of 8.5 and 12 per cent, respectively. Parmar still holds 14 stocks in his portfolio. Stocks from the pharma, sugar and chemicals sectors and select midcap information technology stocks form the core of his portfolio. His total investments are valued at Rs 6.67 lakh and he now holds cash worth Rs 3.74 lakh, having raised Rs 2.45 lakh this week.
 

Ajay Parmar
Head Research Institutional Equities, Emkay
Top Holdings Cost 
price (Rs)
Current 
price (Rs)
Value
(Rs lakh)
Natco Pharma 291.03 310.15 0.85
eClerx Services 546.00 691.10 0.69
Infinite Comp 181.60 197.40 0.59
Bajaj Hindusthan 120.60 117.80 0.59
Jubilant Food 535.40 623.80 0.50
Total investments     6.67
Cash      3.74
Net worth     10.41

Shishir Bajpai
Shishir Bajpai executed eight trades, of which just one was on the buy side. He bought 1,200 shares of Power Grid for a consideration of Rs 1.19 lakh. Overall, he sold stocks worth Rs 5.76 lakh. Bajpai exited from metal stocks — Hindalco, Sesa Goa and Sterlite — for gains of 3.7-5 per cent each. He now holds just four stocks in his portfolio – Moil, Selan Exploration, Coal India and his latest buy. His investments are valued at Rs 4.09 lakh and he holds Rs 9.51 lakh in cash.
 

Shishir Bajpai
Senior Vice President, IIFL Private Wealth
Top Holdings Cost 
price (Rs)
Current 
price (Rs)
Value
(Rs lakh)
MOIL 458.17 448.35 1.35
Selan Exp. 386.67 401.40 1.32
Power Grid 99.50 99.00 1.19
Coal India 313.98 309.10 0.23
Total investments     4.09
Cash      9.51
Net worth     13.60

Siddharth Bhamre
Siddharth Bhamre remained on the sidelines this week. He has 20 stocks in his portfolio, a mix of large and smallcap stocks. Currently, Reliance holds the highest weigthage in his portfolio and 3i Infotech the lowest. His portfolio value has been dented on account of significant losses in IVRCL Infra, HCC, Patel Engineering, Unitech, Kingfisher Airlines and JK Tyre & Industries. Bhamre is almost fully invested with a net worth of Rs 9.83 lakh.
 

Siddarth Bhamre
Head-Equity Derivatives, Angel Broking
Top Holdings Cost 
price (Rs)
Current 
price (Rs)
Value
(Rs lakh)
Reliance Inds 1034.60 1085.60 0.81
Great Offshore 379.20 395.05 0.79
CESC 372.75 376.70 0.75
Aban Offshore 809.00 794.10 0.64
McLeod Russel 232.60 217.95 0.54
Total investments     9.83
Cash      0.00
Net worth     9.83

Vinay Khattar
Vinay Khattar executed eight trades, four on each side. However, his gross sales exceeded gross purchases by a margin of Rs 56,650. He booked gains of 1.3-4.4 per cent on his investments in Essel Propack, Reliance Power, MphasiS and Firstsource. His fresh purchases are Shree Renuka Sugars, Orbit Corp, eClerx Services and Unitech. Kattar’s investments are valued at Rs 4 lakh and he holds Rs 6.64 cash.
 

Vinay Khattar
Head – Research of WAIS, Edelweiss
Top Holdings Cost 
price (Rs)
Current 
price (Rs)
Value
(Rs lakh)
Hexaware   113.15 120.30 1.08
Unitech 65.05 61.60 0.99
Orbit Corp 78.20 76.65 0.77
eClerx Services 726.90 691.10 0.69
Shree Renuka 95.90 95.10 0.48
Total investments     4.00
Cash      6.64
Net worth     10.64




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