Equity bets of rich investors have worked well in the March quarter as over 80% of the stocks they bought in the first three months of the year have outperformed the benchmark so far in April.
These individuals increased their stakes in over 210 companies between January and March, of which 170 stocks have gained more than the Nifty since April 1, while 143 have risen compared to a 3.1% fall in the benchmark index during this period.
For instance, high networth investors raised their stakes in Onmobile Global by 1.68% in the March quarter. The stock has risen 33% so far this month. Ujjivan Financial soared 28% since April 1.
Agencies
As of March 31, HNIs held a 13.31% stake in the company, up 104 basis points over December 2021. Similarly, HNIs increased their stake in Shilpa Medicare by 246 bps in the March quarter. The stock rallied 11% in April.
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