Mutual funds are loading up on information technology (IT) stocks on improved valuations and low downside risk after a double-digit correction in top companies like Infosys and Wipro.
IT stocks were MFs' top sectoral buys in April when they invested a net of ₹2,100 crore. In the first four months of 2023, the net investments in IT amounted to ₹9,500 crore, shows an analysis by ICICI Securities.
Infosys, which has had the steepest correction among large-cap IT stocks (down 19 percent in the last six months), was MFs' top stock pick in March and April. MFs added 30.4 million Infosys stocks in their portfolios during the period.
This story is from the May 23, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 23, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Modi Missing, It Is Pawar Vs Pawar In Baramati
Maharashtra's Baramati constituency is witnessing a high-octane battle between the sitting MP Supriya Sule and NCP's Sunetra Pawar, whose husband Ajit Pawar recently cut political ties with uncle Sharad Pawar.
Breweries stir up barrels with mercury rising
Firms ramp up production, diversify offerings on record summer sales forecast Bengaluru,
Spice row: Norms for pesticide residue stringent, says gov
AKSHARA SRIVASTAVA & SANKET KOUL New Delhi, 5 May India has some of the most stringent norms for pesticide residues limit in food items, the government asserted on Sunday, amid reports that the regulator permits higher pesticide residues limit in herbs and spices.
Committed to theaterisation of military: Rajnath
The theaterisation process in the military is making progress as consensus is emerging among the three services on the ambitious initiative, Defence Minister Rajnath Singh (pictured) said in first clear remarks reflecting forward movement in the mega reform initiative.
THE EXPENDABLES
Is the COO position becoming redundant?
Small is beautiful, but not always
For most SFBs, being a small bank is part of their journey, not the destination
A case for making RBI regulations plain, simple
The April bulletin of the Reserve Bank of India (RBI) has an interestin 'Gauging Linguistic Complexity of on Regulatory Communication'.
Sequence of returns' big impact on final corpus
Prem invests 1 lakh per annum for 30 years, earning 12 per cent per annum for the first 15 years and 6 per cent for the next 15 years.
Protecting streedhan: Maintain inventory, store in woman's locker
The husband's family should also document all gifts to avoid false allegations
M&M's growth engines roar to life, launches to drive gains
SUCCESS MILEAGE: Investor confidence accelerates with growth focus
