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Smallcap stocks: SBI Mutual Fund goes all out for NHPC; picks more midcaps & smallcaps


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NEW DELHI: Fund managers at SBI Mutual Fund continued to accumulate smallcaps and midcaps and dumped big names from the Nifty pack in November, as they saw limited upsides in largecaps after a record rally since March.
The fund house went all out for NHPC, buying over 1 crore shares of the hydroelectric power generator. Power consumption in the country has grown past pre-Covid level with projections for further growth. This has made analysts bullish on the sector.
“If I have to look at it from a two-three years’ perspective, the power sector could be a great turnaround story from the current level. We were power deficit once, but are now in power-surplus mode,” said Yogesh Mehta, Founder of Yield Maximisers. ....

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