Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Lupin helped Jhunjhunwala’s portfolio beat market returns at the index level since April 2020. These stocks collectively added half, or Rs 1,246 crore, of the total Rs 2,514 crore gain in Rakesh Jhunjhunwala’s portfolio during the period under review. Titan, however, underperformed the market by gaining 7 per cent. In comparison, the S&P BSE Sensex was up 26.7 per cent during the same period.
Given the sharp run in the markets
since their March 2020 lows, most analysts are now cautious and suggest the trajectory will depend on the number of Covid-19
cases and the progress of the vaccine to battle the pandemic. That said, equity as an asset class, they believe, should deliver good return from a long-term horizon.
“Given the significant rally already, we believe the global equity market may remain on the sidelines over the next few months as profit booking may set in. Within equities, Indian equities could underperform their Asian peers in the next few months given the lack of a demand stimulus,” wrote Jitendra Gohil, head of India equity research at Credit Suisse Wealth Management India in a July 16 note co-authored with Premal Kamdar, their equity research analyst. They remain bullish on agri-linked, telecom, FMCG, and utility sectors.
Ajit Mishra, vice-president for research at Religare Broking, too, echoes a similar view and maintains a cautious stance on the markets
given the runaway rally.
are largely focusing on the earnings and the recent announcements from the index majors have positively surprised, which in turn is fueling the recovery. Besides, the global markets are also not showing any signs of slowing down, helping the index to maintain the momentum. However, the rising Covid-19
cases and talks of community transmission could dent the pace ahead. We suggest focusing more on risk management and opting for quality counters for investment," he says.