Offshore fund trims India play

Foreign portfolio investors generally tend to be quiet around the year end, but one fund is said to be trimming its India holdings in recent days. Market grapevine has it that an offshore fund, which shares the name of an ancient university, is offloading some of the stocks that it has held for a while.

The talk is that the fund has been selling Page Industries, Mindtree, Supreme Industries, V-Guard and Kewal Kiran Clothing.

Most of these stocks have declined between 7 per cent and 9 per cent since January 1, while the Sensex was almost flat during this period.


It is not clear whether the selling is because of a bearish view or the scheme maturing.