Mutual funds add defensives IT & pharma as Omicron, valuations weigh
Invesco India bought into Vodafone Idea as the company could be a benefi ciary post the 25% tariff hike, Mirae bought into Bayer CropScience and DSP bought into Thangamayil Jewellery ahead of the wedding season.
They also picked specific mid- and small-cap stocks with earnings visibility. Among pharma stocks, fund managers found comfort in Laurus Labs and Alembic Pharma.
Amid steep valuations, uncertainty over the omicron variant, and subsequent lockdowns, and a 6% correction in the Nifty in November, fund managers bought into defensive sectors like IT and Pharma.
They also picked specific mid- and small-cap stocks with earnings visibility. Among pharma stocks, fund managers found comfort in Laurus Labs and Alembic Pharma.
In midcap IT, they preferred Zensar Tech and Firstsource Solutions. Invesco India bought into Vodafone Idea as the company could be a benefi ciary post the 25% tariff hike, Mirae bought into Bayer CropScience and DSP bought into Thangamayil Jewellery ahead of the wedding season.
ET takes a look at some of mutual funds’ prominent purchases and sales
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