| Fund managers in profit-taking mode |
| Rex Cano / Mumbai March 23, 2009, 0:04 IST |
Smart Portfolios last week witnessed increased activity as fund managers rushed to book profits or exit from select counters as the markets continued their pullback. The Smart Portfolios benchmark, the BSE 200, rallied nearly 3 per cent.
The benchmark’s net worth now stands at Rs 5.91 lakh, up almost 3 per cent from its previous level of Rs 5.74 lakh. However, the benchmark’s portfolio value is still down nearly 41 per cent, since the inception of Smart Portfolios on September 1, 2008.
Cumulatively, fund managers were net sellers of stocks worth Rs 5.43 lakh, with Anand Agarwal alone offloading stocks worth Rs 3.05 lakh. Out of 32 trades executed last week, only six were on the buy side.
For more details on Smart Portfolios please visit www.business-standard.com/smartportfolios
SMART GAINS
KASHYAP PUJARA
Fund Manager, ENAM Direct
Kashyap Pujara executed ten trades last week, of which just two were on the buy side. He bought shares worth Rs 0.68 lakh and sold stocks worth Rs 2.23 lakh. The balance was net sales of Rs 1.55 lakh. He raised his holding in Bank of Baroda, and also added Idea Cellular to his portfolio.
On the other hand, Pujara booked smart gains of over 17 per cent in Punjab National Bank, 14 per cent in Reliance Industries and 11 per cent each in Gail and Sesa Goa. He also booked a loss of around 40 per cent in Sterlite.
| Top Holdings | % of assets | Cost (Rs) Price | Current price (Rs) | Value (Rs lakh) |
| SBI | 11.00 | 1099.56 | 953.55 | 0.95 |
| Bank of Baroda | 7.08 | 227.94 | 204.40 | 0.61 |
| Idea Cellular | 5.35 | 47.55 | 46.35 | 0.46 |
| Century Textiles | 4.36 | 343.87 | 189.10 | 0.38 |
| Reliance Comm | 3.65 | 269.42 | 158.35 | 0.32 |
| Total investments | 35.06 | - | - | 3.04 |
| Cash | 64.94 | - | - | 5.63 |
| Net worth | - | - | - | 8.67 |
| Returns (%) | -13.33 | - | - | - |
In doing so, Pujara has decreased his investment exposure to 35 per cent from 52.4 per cent, and raised his cash levels to Rs 5.63 lakh from Rs 4.08 lakh a week ago. At the end of the week, Pujara’s net worth stood at Rs 8.67 lakh, up 1.3 per cent from previous week.
BALANCED TRADES
SADANAND SHETTY
Vice President, Kotak Securities
Sadanand Shetty balanced his trades last week executing eight trades, four each on the buy and sell sides. Shetty bought shares worth Rs 0.36 lakh, and sold scrips worth Rs 0.48 lakh.
He raised his holdings in Power Finance and Godrej Consumer. Meanwhile, he also booked gains of 9.5 per cent in Power Finance, 7.8 per cent in Maruti, 5.7 per cent in Tata Steel and 2.3 per cent in Godrej Consumer.
| Top Holdings | % of assets | Cost (Rs) Price | Current price (Rs) | Value (Rs lakh) |
| Reliance Ind | 4.53 | 1169.58 | 1338.55 | 0.40 |
| Godrej Consumer | 4.02 | 121.76 | 119.00 | 0.36 |
| Balrampur Chini | 3.38 | 55.14 | 45.15 | 0.30 |
| SBI | 3.22 | 1154.76 | 953.55 | 0.29 |
| Areva T&D | 3.22 | 185.31 | 178.40 | 0.29 |
| Total investments | 35.74 | - | - | 3.17 |
| Cash | 64.24 | - | - | 5.70 |
| Net worth | - | - | - | 8.87 |
| Returns (%) | -11.26 | - | - |
At the end of the week, Shetty’s net worth has risen 0.6 per cent to Rs 8.87 lakh from Rs 8.82 lakh the week before.His cash levels have increased marginally from Rs 5.58 lakh to Rs 5.70 lakh.
EXIT MODE
ANAND AGARWAL
Fund Manager, Reliance Money
Anand Agarwal was an aggressive seller last week, as he executed 12 trades–all ont he sell side. In the process, he sold stocks worth Rs 3.05 lakh. Agarwal booked profits in each of his trades, with a maximum of nearly 46 per cent in Jet Airways followed by nearly 29 per cent in ICICI Bank.
He also gained 25.5 per cent in Axis Bank, and over 19 per cent in Indian Bank. In fact, his exit from banking stocks resulted in a net profit of almost 13 per cent on a cumulative basis. At the end of the week, Agarwal continues to hold just two stocks, down from nine, in his portfolio.
| Top Holdings | % of assets | Cost (Rs) Price | Current price (Rs) | Value (Rs lakh) |
| Reliance Comm | 3.65 | 138.30 | 158.35 | 0.32 |
| Indian Bank | 2.19 | 64.62 | 75.95 | 0.19 |
| Total investments | 5.88 | - | - | 0.51 |
