Retail bounty fuels MFs’ Jan value buys in sectoral leaders
Companies such as Hindustan Copper, Vedanta, Saregama, Thermax, Kennametal India, Electrosteel Castings, Indian Energy Exchange, and Hindustan Aeronautics saw significant buying interest from mutual funds
Synopsis
Some money managers nibbled at industrials on expectations of a revival in the capex cycle in the coming quarters as they expect earnings of companies in the space to grow by 15-25% in the next couple of years. They booked profits in IT companies — mostly mid- and small-caps that have run up sharply without any significant rise in earnings.
Domestic mutual fund managers flush with cash, thanks to sharp inflows from retail investors, lapped up some of the beatendown shares of companies with a dominant presence in their sectors. Some money managers nibbled at industrials on expectations of a revival in the capex cycle in the coming quarters as they expect earnings of companies in the space to grow by 15-25% in the next couple of years. They booked profits in IT companies — mostly
