MFs rebalance new-age, IT portfolios ahead of Q3 result season
Mutual fund managers adjusted portfolios in December, buying Swiggy and Zomato amid underperformance and favoring Tata Consultancy Services over Infosys. They also rotated allocations in InterGlobe Aviation following a selloff due to mass flight c...
While fund managers bought Tata Consultancy Services and trimmed exposure to Infosys, they rotated allocations in InterGlobe Aviation, parent of IndiGo, which bore the brunt of a selloff after the mass flight cancellations by the airline operator.
Mutual fund managers shuffled bets across new-age businesses, IT and bank stocks in December ahead of the third quarter results season in January. Within new-age businesses, they purchased online food delivery platforms Swiggy and Zomato, whose shares had underperformed since October. While fund managers bought Tata Consultancy Services and trimmed exposure to Infosys, they rotated allocations in InterGlobe Aviation, parent of IndiGo, which bore the brunt of a selloff after the mass flight cancellations by the airline operator.
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