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After a sharp correction at the start of the week which saw Smart Portfolios slip into the red, the markets bounced back sharply and recouped losses.
- Marginal decline in networth - Big gains for Smart Portfolios - "Expect earnings upgrade in Q2FY10" - Marginal decline in networth - Big gains for Smart Portfolios - "Expect earnings upgrade in Q2FY10"
Fund managers adopted different strategies to tackle the swings. Amar Ambani was on a shopping spree picking up stocks worth Rs 3.14 lakh at the net level and Praveen Panjwani cut his losses with net sales totaling Rs 2.84 lakh. Ajay Parmar and Phani Sekhar opted to watch from the sidelines.
While two fund managers are sitting on losses, Ajay Parmar and Amar Ambani have out-performed the Smart Portfolios benchmark. An investment of Rs 10 lakh in the benchmark S&P CNX 500 index would have today yielded a net return of 2.87 per cent, which is equivalent to a net worth of Rs 10.29 lakh. Whereas Parmar and Ambani"s portfolio value today stand appreciated at Rs 10.35 lakh and Rs 10.41 lakh, respectively.
TORRENT GAINS
Ajay Parmar
Head, Research, Institutional Equities, Emkay
Ajay Parmar opted to remain on the sidelines; however, his portfolio value saw a sharp appreciation of 6.48 per cent last week. Parmar"s net worth is now Rs 10.35, up 3.55 per cent as against Rs 9.72 lakh in the preceding week. Among the 20 stocks in his portfolio, 12 are trading above his cost price. Torrent Pharma, the stock which has the single highest (11.09 per cent) weight age in his portfolio, is the top performing stock with a gain of 19.17 per cent.
Top Holdings
% of
assets
Cost
Price (Rs)
Current
price (Rs)
Value
(Rs lakh)
Torrent Pharma
11.09
321.15
382.70
1.15
Bhushan Steel
5.89
1195.30
1219.00
0.61
Bajaj Auto
5.62
1494.20
1455.60
0.58
Orbit Corp
5.40
243.05
266.45
0.56
Sabero Org
5.38
42.85
46.45
0.56
Total investments
98.70
10.22
Cash
1.30
0.13
Net worth
10.35
Returns (%)
3.55
It is followed by Phoenix Mills and IRB Infra with gains of 15.16 per cent and 10.56 per cent, respectively. On the other hand, TV18 with a loss of 27.08 per cent remains the worst performing stock in his portfolio followed by Hinduja Ventures (down 21.18 per cent) and Anant Raj Industries (down 16.76 per cent). His cash levels stands at just Rs 13,500.[----------]
BUY, BUY, BUY
Amar Ambani,
Vice President (Research), India Infoline
After having cashing out in the preceding week, Amar Ambani went shopping deploying over 50 per cent of his cash reserves into the market. His cash levels have dropped significantly from Rs 5.72 lakh to Rs 2.58 lakh. Ambani"s portfolio value appreciated by 2.66 per cent in the week under review. His net worth now stands at Rs 10.42 lakh, up 4.18 per cent. He has 16 stocks in his portfolio, of which 10 are trading above his cost price.
Top Holdings
% of
assets
Cost
Price (Rs)
Current
price (Rs)
Value
(Rs lakh)
3i Infotech
8.05
91.80
83.90
0.84
MRF
6.32
4659.70
5983.85
0.66
RNRL
5.49
61.80
71.45
0.57
Sesa Goa
5.40
281.70
312.65
0.56
Gujarat Petronet
5.26
81.25
88.40
0.55
Total investments
75.24
7.84
Cash
24.76
2.58
Net worth
10.42
Returns (%)
4.18
MRF with a gain of 28.42 per cent is his top pick followed by Reliance Natural Resources (up 15.61 per cent) and Sesa Goa (up 10.99 per cent). Meanwhile, PVP Ventures down 31.52 per cent from his purchase price is a major drag on his net worth followed by Indiabulls Securities (down 26.36 per cent) and Anant Raj Industries (down 10.54 per cent).[----------]
A MIXED BAG
Phani Sekhar
Fund Manager – PMS, Angel Broking
Phani Sekhar continued to remain on the sidelines for yet another week. While his portfolio value was up 2.15 per cent last week, his net worth continued to remain in red at Rs 9.96 lakh, down 0.41 per cent till date. His portfolio is a mixed bag, with six stocks trading above his cost price with five laggards.
Top Holdings
% of
assets
Cost
Price (Rs)
Current
price (Rs)
Value
(Rs lakh)
eClerx
11.72
344.25
416.80
1.17
Axis Bank
9.42
901.30
937.90
0.94
Reliance Industries
9.24
2093.85
1957.50
0.92
Federal Bank
9.13
245.60
227.25
0.91
Rel Infra
8.78
1194.80
1093.10
0.87
Total investments
81.22
8.09
Cash
18.78
1.87
Net worth
9.96
Returns (%)
-0.41
Crompton Greaves up 24.72 per cent from his purchase price is his top pick followed by eClerx up 21.07 and HDFC Bank up 8.14 per cent. On the other hand, Bharati Shipyard continues to remain a drag on his net worth with a loss of 25.59 per cent. It is followed by Bharti Airtel (down 10.58 per cent) and Reliance Infrastructure (down 8.51 per cent).[----------]
EXIT MODE
Praveen Panjwani
AVP, Edelweiss
Praveen Panjwani after being on the sidelines for over a month was seen exiting loss-making investments. All in all, Panjwani got out of 10 stocks which resulted in losses ranging from 1.55 per cent - 32.97 per cent. Aptech, down 32.97 per cent from his acquisition price, was the biggest drag on his portfolio followed by Indian Overseas Bank (loss of 24.67 per cent) and Bhushan Steel (loss of 20.52 per cent).
Top Holdings
% of
assets
Cost
Price (Rs)
Current
price (Rs)
Value
(Rs lakh)
CMC
11.41
1070.28
1244.35
1.12
Gujarat Petronet
10.80
81.75
88.40
1.06
McNally Bharat
7.83
193.00
198.20
0.77
KEC International
5.15
530.25
532.70
0.51
Godrej Industries
4.84
194.70
186.25
0.47
Total investments
54.24
5.33
Cash
45.76
4.49
Net worth
9.82
Returns (%)
-1.81
Panjwani now holds just nine stocks in his portfolio, with VIP Industries up 24.62 per cent from his cost price, his top performer. It is followed by CMC up 16.26 per cent and Gujarat Petronet (up 8.13 per cent). Despite booking losses, Panjwani"s net worth saw a weekly gain of 1.87 per cent. His portfolio value now stands at Rs 9.82 lakh, down 1.81 per cent, and he holds Rs 4.49 lakh cash.