Sliding equity markets erode gains

The market, which was already lingering under the fears of a global turmoil caused by the tensions in Korean neighbourhood, fear of a Chinese rate hike and persistent euro debt crisis, had to deal with an additional pressure on account of the real estate loan scam and derivatives expiry for the November series. These factors dented the Smart Portfolios, which saw the benchmark S&P CNX 500 portfolio's value plunging 4 per cent over the last five trading days to Rs 10.45 lakh. Similarly, fund managers too saw value erosion of 2.5-6 per cent each.

Ajay Parmar
Ajay Parmar remained on the sidelines last week. The absence of financial and realty stocks in his portfolio saw a limited damage of 2.7 per cent in his net worth. This happened due to exposure to LIC Housing Finance, which now trades almost 13 per cent lower than his cost price. Other key losers were-Zuari Industries, Gulf Oil and Gitanjali Gems- which were down 12 per cent each. Top performers included Unichem Laboratories up 38 per cent. It was followed by eClerx Services and Greaves Cotton up 25 per cent and 20 per cent, respectively. Parmar's net worth now stands at Rs 10.75 lakh and he almost fully invested with just Rs 9,000 as spare cash.
 

Ajay Parmar, Head Research Institutional Equities, Emkay
Top Holdings	Cost  price (Rs )	Current  price (Rs )	Value (Rs  lakh)
Unichem Labs	185.98	256.45	1.28
Natco Pharma	291.03	327.20	0.90
Chambal Ferts	75.38	87.50	0.70
eClerx Services	546.00	682.25	0.68
Bajaj Auto	1485.45	1633.75	0.57
Total investments			10.66
Cash			0.09
Net worth			10.75

Shishir Bajpai
Shishir Bajpai executed four trades last week, two on either side. While he exited from Power Grid and Coal India, he bought shares of IFCI and Apollo Tyres of an equivalent amount. Bajpai's portfolio value saw a deep cut of 6 per cent to Rs 12.74 lakh from Rs 13.56 lakh. Barring Apollo Tyres, rest of his investments are currently below his cost price. Top losers included, Microsec Financial Services, Mercator Lines, Crest Animation, Jindal South West Holdings and Ajmera Realty which were all down 17-25 per cent. Bajpai, too, is almost fully invested with cash balance of just Rs 3,175.
 

Shishir Bajpai, Senior Vice President, IIFL Private Wealth
Top Holdings	Cost  price (Rs )	Current  price (Rs )	Value (Rs  lakh)
Tata Motors	1,227.80	1,205.80	1.21
Reliance Inds	1,113.25	979.50	1.17
Selan Explorations	401.05	376.75	1.13
JSW Energy	125.00	106.85	1.07
Microsec Fin	89.97	67.95	1.02
Total investments			12.71
Cash			0.03
Net worth			12.74

Siddarth Bhamre
Siddarth Bhamre, despite, remaining on the sidelines saw a cut of over 5 per cent on his net worth Rs 9.82 lakh. This was mainly on account of exposure in infra related companies viz Hindustan Construction and Unitech. Currently, Bhamre's stocks are trading below his cost price. JK Tyre, Tata Chemicals, Electrosteel Castings, Kingfisher Airlines, Unitech, Moser Baer, Hindustan Construction and IVRCL Infrastructure are the major laggards. Bhamre holds Rs 17,200 in cash.
 

Siddarth Bhamre, Head-Equity Derivatives, Angel Broking
Top Holdings	Cost  price (Rs )	Current  price (Rs )	Value (Rs  lakh)
Great Offshore	379.20	379.00	0.76
Reliance Inds	1034.60	979.50	0.73
CESC	372.75	356.85	0.71
MphasiS	645.30	587.90	0.59
Aban Offshore	809.00	724.40	0.58
Total investments			9.64
Cash			0.17

Vinay Khattar
Vinay Khattar was the most active fund managers, with 19 trades to his credit. His top buys include - Shoppers Stop, Bata India, Sesa Goa, Bharti Airtel and Orchid Chemicals in which he has invested over Rs 1 lakh each. He has exited from Marksans Pharma, TVS Motor, IFCI, 3i Infotech, ISMT, Jayaswal Neco and Rolta for losses of 1-17 per cent each. However, he booked notional gains on his investment in Sintex and Spice Mobility. Khattar now holds Rs 2.10 lakh cash, while his portfolio is valued at Rs 10.13 lakh.
 

Vinay Khattar, Head – Research of WAIS, Edelweiss
Top Holdings	Cost  price (Rs )