Sunday, October 4, 2009


The market mood remained upbeat during September 2009 on sustained buying interest from domestic as well as foreign institutions amidst good liquidity flow. This was despite rising discomfort on valuations. During the month, the Sensex and Nifty gained 9.2% and 8.6% respectively and our portfolio of top picks performed much in line with these indices delivering returns of 8.2%. Two additions made to the portfolio of top picks in September 2009—IDBI Bank and IPCA Laboratories—proved to be portfolio out performers rising by handsome 17.5% and 14.4% respectively.

For October 2009, we are making two changes to the basket of top picks. We are replacing Bajaj Holdings and Investment, which ran up by sharp 14.3% in September, with UltraTech Cement. We believe, UltraTech Cement would attract substantial buying on the proposed merger of Grasim Industries’ cement business with UltraTech Cement. We are also replacing Emco Transformers with Torrent Pharmaceuticals, which is trading cheap on valuations despite strong growth prospects and expectations of good results for the quarter ended September 2009.

  • Apollo Tyres
  • Bharti Airtel
  • Bharat Heavy Electricals
  • Godrej Consumer
  • IDBI Bank Ltd.
  • IPCA Lab
  • ITC
  • Reliance Industries
  • Torrent Pharma
  • Ultra Tech Cement
To see full report: TOP PICKS