| Deep cuts in Smart Portfolios |
| Rex Cano / Mumbai November 02, 2009, 0:50 IST |
In a week when markets went into a tailspin, the Smart Portfolios saw significant losses. An investment of Rs 10 lakh at the start of Smart Portfolios on September 1, 2009, is now valued at Rs 10.03 lakh as against Rs 10.69 lakh in the preceding week.
Ajay Parmar, Phani Sekhar and Praveen Panjwani's net worth slipped into the negative territory. Amar Ambani, however, managed to hold fort with an overall gain of 1.5 per cent so far.
Only two fund managers--Ajay Parmar and Amar Ambani--were active executive 28 trades. At the net level, they sold stocks worth Rs 2.46 lakh during the week.
With Smart Portfolios benchmark at break-even point, and fund managers, barring Amar Ambani, heavily invested it would be very interesting to see how the fund managers react to the current market situation.
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ON A BUYBACK MODE
Ajay Parmar Head, Research, Institutional Equities, Emkay
Ajay Parmar sold stocks worth Rs 4.68 lakh mid-week, only to buy most of them back with buy orders worth Rs 4.56 lakh. On a weekly basis, Parmar saw his net worth plunge 9.2 per cent. His total investments are now valued at Rs 9.58 lakh, and his cash component has increased to Rs 13,500 from negligible levels earlier.
| Top Holdings |
% of assets |
Cost Price (Rs) |
Current price (Rs) |
Value (Rs lakh) |
| Torrent Pharm | 10.12 | 321.15 | 327.65 | 0.98 |
| Bhushan Steel | 5.94 | 1195.30 | 1153.65 | 0.58 |
| Bajaj Auto | 5.71 | 1494.20 | 1388.15 | 0.55 |
| Coromandal Fert | 5.57 | 194.50 | 216.50 | 0.54 |
| Sabero | 5.46 | 42.85 | 44.20 | 0.53 |
| Total investments | 98.61 | - | - | 9.58 |
| Cash | 1.39 | - | - | 0.13 |
| Net worth | - | - | - | 9.72 |
| Returns (%) | -2.83 | - | - | - |
He now holds 20 stocks in his portfolio. Coromandel Fertilisers with a gain of 11.3 per cent is the top performing stock in his portfolio. Torrent Pharma, Sabero Organics, IRB Infrastructure and Sesa Goa are the only other stocks above his cost price. TV18 down 30.7 per cent from his buy price is the worst performing stock in Parmar's portfolio followed by Hinduja Ventures and Reliance Capital. His net worth is now valued at Rs 9.72 lakh, down 2.8 per cent.
CASHING OUT
Amar Ambani, Vice President (Research), India Infoline
Amar Ambani executed 12 trades last week of which nine were on the sell side. At the net level, he sold stocks worth Rs 2.33 lakh, with gross sales totaling Rs 3.75 lakh. His cash component has now risen significantly to Rs 5.72 lakh from Rs 3.39 lakh. His portfolio is now down to nine stocks as against 15 in the preceding week.
| Top Holdings |
% of assets |
Cost Price (Rs) |
Current price (Rs) |
Value (Rs lakh) |
| 3i Infotech | 8.16 | 91.80 | 82.80 | 0.83 |
| MRF | 5.73 | 4659.70 | 5289.85 | 0.58 |
| Sesa Goa | 5.36 | 281.70 | 302.45 | 0.54 |
| Escorts | 4.91 | 107.05 | 106.00 | 0.50 |
| Indiabulls Sec | 4.43 | 57.10 | 46.35 | 0.45 |
| Total investments | 43.65 | - | - | 4.43 |
| Cash | 56.35 | - | - | 5.72 |
| Net worth | - | - | - | 10.15 |
| Returns (%) | 1.50 | - | - | - |
Ambani has made fresh investments in Escorts and Sesa Goa while averaging his holdings in 3i Infotech. Off the nine sell trades he executed he managed to book gains in Dhampur Sugars, Lanco Infratech and Consolidated Construction. Suzlon, Dish TV and Punj Lloyd were the major loss making stocks for him. Ambani’s net worth now stands Rs 10.15 lakh, up 1.5 per cent. His total investments are valued at Rs 4.43 lakh.
HIT BY BHARATI
Phani Sekhar Fund Manager – PMS, Angel Broking
Phani Sekhar continued to remain on the sidelines for the third straight week, while his investments saw a decline of 5.7 per cent last week. Of the 11 stocks in his portfolio five are trading above his buy price. His top three picks are Crompton Greaves up 24.2 per cent from his cost price followed by eClerx Services (up 12 per cent) and HDFC Bank (up 6.9 per cent).
| Top Holdings |
% of assets |
Cost Price (Rs) |
Current price (Rs) |
Value (Rs lakh) |
| Eclerx | 11.07 | 344.25 | 385.45 | 1.08 |
| Federal Bank | 9.85 | 245.60 | 240.10 | 0.96 |
| Reliance | 9.31 | 2093.85 | 1931.15 | 0.91 |
| Axis Bank | 9.31 | 901.30 |
