Domestic fund managers stayed anchored to defensive bets such as pharmaceuticals in April, while selectively adding NBFCs and asset management companies amid concerns over rising oil prices due to geopolitical tensions in West Asia.
Equity schemes stepped up exposure to pharmaceuticals, also on account of significant product-specific opportunities.
The impending patent expiry of semaglutide, a weightloss drug, is seen as a multi-year opportunity for Indian drugmakers, driving buying in stocks such as Aurobindo Pharma, Torrent Pharma, Sun Pharma, Emcure Pharma, Dr Reddy’s, Mankind Pharma, and Divi’s Laboratories.
Agencies
Strong growth visibility in the asset management business led to incremental allocations to Nippon Life, and Aditya Birla Sun Life AMC, where valuations remain relatively attractive compared with peers. Meanwhile, a shift towards retail lending and affordable housing saw funds add exposure to PNB Housing Finance.
Agencies
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