An outperforming market tends to attract more allocation from active and passive funds.
Power Grid’s telecom revenue increased by 9.3 per cent year-on-year to Rs 663.3 crore in FY19.
Airtel’s $3b fundraisings and improved free cash could mitigate the risk of AGR payments.
Existing capacity utilisation is north of 70 per cent.
L&T’s stock has underperformed 12 per cent compared with the Nifty in last three months.
Maruti Suzuki’s volume fell 24 per cent in the first half of the current fiscal.
Domestic and foreign investors have increased holding in such companies.
Despite their underperformance, investors have not outrightly lowered exposure to midcaps.
FPIs have raised holdings in the ‘bottoms-up’ stocks in the range of 2-6% in September quarter.
OMC stakes in other energy companies are in the range of 2 per cent to 22 per cent.
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