The markets witnessed volatile trades throughout the week under review, as they reacted to reports that the government would not target participatory notes (P-notes) under the new General Anti-Avoidance Rules (GAAR). Due to this, the markets slipped below 17,000 on subdued foreign institutional investment flows. The fund managers of Smart Portfolios’ Season 4 commented on the markets and their individual portfolios.
For the week, Rikesh Parikh’s net worth stands at Rs 1026,000, up 2.61 per cent; Ashish Mittal’s net worth is at Rs 1025,000, up 2.49 per cent; Alex Mathews’ net worth is at Rs 1027,000, up 2.72 per cent; and Ajay Parmar’s net worth totals Rs 1055,000, up 5.53 per cent.
RIKESH PARIKH
Parikh carried out 11 transactions during the period. As the markets corrected, he exited fast moving consumer goods and pharma sectors. He switched to large caps, with allocation in Maruti, Reliance and Tata Consultancy Services (TCS), “as the markets have corrected to attractive levels”.
Commenting on his portfolio, he said he would increase exposure to rate-sensitive sectors, expecting a rate cut at the next Reserve Bank of India (RBI) meet. His current top holdings include TCS, Bharti Airtel, Maruti Suzuki, Housing Development Finance Corporation and Hindalco Industries.
| RIKESH PARIKH, VP Equity Strategies, Motilal Oswal Securities | |||
| Top Holdings | Cost price (Rs) | Current price (Rs) | Value (Rs lakh) |
| Cadila Healthcare | 716.94 | 720.00 | 0.47 |
| Mahindra & Mahindra | 701.00 | 684.00 | 0.41 |
| Pidlite Industries | 144.72 | 157.00 | 0.39 |
| Bharti Airtel | 347.57 | 324.00 | 0.32 |
| Power Grid Corp of India | 101.93 | 106.00 | 0.32 |
| Total investments | 3.30 | ||
| Cash | 6.88 | ||
| Net worth | 10.18 | ||
ASHISH MITTAL
Mittal carried out only one transaction during the week, as he bought BASF India. The strategy behind the buy was to capitalise on the fundamentally strong MNC names which didn’t participate in the recent rally and which can reward decently from the current levels.
He expects the markets to recover significantly during the April-June quarter on account of a record level of food grain in the current crop year, a cut in benchmark rates by the RBI and a significant improvement in headline inflation numbers.
His top holdings include Balmer Lawrie & Company, Karur Vysya Bank, ITC, Bharat Electronics and Tide Water Oil Co (I).
| ASHISH MITTAL, Fund Manager, PMS, Centrum Wealth | |||
| Top Holdings | Cost price (Rs) | Current price (Rs) | Value (Rs lakh) |
| Balmer Lawrie & Company | 618.00 | 542.00 | 0.70 |
| Karur Vysya Bank | 373.00 | 378.00 | 0.64 |
| Bharat Electronics | 1,583.00 | 1,550.00 | 0.62 |
| ITC | 199.00 | 219.00 | 0.60 |
| Tide Water Oil Co(I) | 6,751.00 | 7,336.00 | 0.61 |
| Total investments | 9.70 | ||
| Cash | 0.53 | ||
| Net worth | 10.23 | ||
ALEX MATHEWS
During the week, Mathews took some fresh positions in Hindalco, L&T, Adani Enterprises and NBFCs, which he sees as value buys. His current top holdings are Aptech, ITC, Cairn India, IVRCL and L&T.
He said the outlook for markets was still wary, given the uncertainty persisting around GAAR and its impact on foreign funds, especially P-notes. He added fourth-quarter numbers were not going to show any firework and the CPI numbers were still at highs.
| ALEX MATHEWS, Head, Technical and Derivatives Research, Geojit BNP Paribas Financial Services | |||
| Top Holdings | Cost price (Rs) | Current price (Rs) | Value (Rs lakh) |
| Tech Mahindra | 653.00 | 725.00 | 1.08 |
| Oracle Fin Services | 2,625.00 | 2,540.00 | 0.97 |
| Infosys | 2,956.00 | 2,827.00 | 0.93 |
| Aptech | 90.00 | 84.00 | 0.92 |
| TCS | 1,250.00 | 1168.00 | 0.76 |
| Total investments | 7.93 | ||
| Cash | 2.42 | ||
| Net worth | 10.35 | ||
AJAY PARMAR
Parmar remained inactive during the week. His current top holdings include L&T, Bajaj Auto, Allahabad Bank, IVRCL and Tree House Education and Accessories.
On being inactive, Parmar said he would wait till a clear trend emerged, before taking any action on either side. “We have to watch a lot of domestic data before the RBI meet in April. Also, we have to keep an eye on the crude price and the rupee,” he said.
| AJAY PARMAR, Co-head, Investment Banking, Emkay Global | |||
| Top Holdings | Cost price (Rs) | Current price (Rs) | Value (Rs lakh) |
| Bajaj Finserv | 640 | 601 | 0.6 |
| Axis Bank | 1,247.00 | 1,177.00 | 0.59 |
| IRB Infrastructure | 192.00 | 192.00 | 0.57 |
| JP Associates | 84.00 | 77.00 | 0.46 |
| ICICI Bank | 936.00 | 899.00 | 0.45 |
| Total investments | 9.15 | ||
| Cash | 1.57 | ||
| Net worth | 10.72 | ||
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