MFs buy renewables, cement and pharma in October
Rising electricity demand and ambitious targets for renewable energy capacity expansion, over the next few years led to fund managers buying stocks like NHPC, KEI, Inox Wind Energy and IEX.
With government spending likely to resume in the second-half of the fi nancial year, some fund managers bought into cement stocks like Ramco Cement and Ambuja Cement.
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Some valueconscious fund managers, who believe that the markets are likely to correct further, moved a part of their portfolio to defensive pharma stocks like Zydus Lifesciences, Laurus Labs, Torrent Pharma and Aarti Drugs.
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