Synopsis
Why is that so? For a start, defensive stocks should protect downside risks in a global environment that even the surest of soothsayers wouldn’t describe as predictable. Then, valuations in India aren’t cheap by any stretch of imagination, which puts territorial limits on how far the investing equivalent of explorers would go.
ET Intelligence Group: If you’ve been wondering why Hindustan Unilever shares climbed 14% in six months while the top indices barely climbed, you have to look far beyond Mumbai’s shores for an answer.
Foreign funds have traditionally been among the biggest buyers of consumer stocks in India, but their shopping cart has had a distinct utilitarian, defensive flavour since they dropped anchor in Mumbai after a relatively long gap.
Why is that so?
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