Stocks favoured by rich Indians poised to defy market selloff
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Last Updated: May 04, 2021, 07:16 AM IST
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A custom basket of 30 stocks with retail ownership of at least 20%, favoured by wealthy individual investors, has outperformed the Nifty 200 index by 7% this year, according to Gaurav Patankar and Nitin Chanduka.
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By Ronojoy Mazumdar
India’s ultra-rich are fleeing the country as the world’s second-most populous nation deals with a deadly wave of the coronavirus pandemic, but that is unlikely to push wealthy investors to dump their stock holdings, according to Bloomberg Intelligence.
“Despite lower trading activity, our analysis shows that stocks with high retail ownership don’t appear to be at a risk of a sell-off,” Gaurav Patankar, head of EM Equity Strategy, and Nitin Chanduka, strategist, said in a note.