ET-Wealth 20-11

NG 3.7 PubDate: 20-11-2023 Zone: ETWealthDelhi Edition: 1 Page: DETWDFP User: shashi.
bhushan4 Time: 11-17-2023 18:32 Color:
THE ECONOMIC TIMES

KEEP CALM
DURING A
CRISIS
P7
www.etwealth.co | Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune | Volume 13 No. 47 | November 20-26, 2023 | 24 pages | `8
HOW TO
PROTECT
YOUR
HOME
Home insurance
is as cheap as it
is necessary.
Find out why
you should
buy it. P2
FOMO IS IT LOW BETA

TRIGGERS TIME FOR STOCKS CAN
FOR LARGE MANAGE
INVESTING CAPS TO MARKET
DECISIONS SHINE? RISKS
P5 P6 P10
NG 3.7 PubDate: 20-11-2023 Zone: ETWealth Edition: 1 Page: ETWDP2 User: shashi.bhushan4 Time: 11-17-2023 18:39 Color:
cover story
02 The Economic Times Wealth November 20-26, 2023
How to
protect
your home
Home insurance is as cheap as
it is necessary. Find out why
and how to buy it.
PHOTOS: GETTY IMAGES
By Babar Zaidi `21,551

Nature as insurance salesman
C
hennai resident S. Raman `20,113 7.2%
lost more than `20 lakh The premium income of the fire and allied perils segment 27.9%
on Diwali night. A misdi- tends to shoot up after a natural catastrophe.
rected sky-shot cracker
PREMIUM INCOME (` crore) Aug 2018
landed inside his eighth
Floods wreak `15,729
floor apartment and started a blaze GROWTH (%)
that destroyed the furniture, gadgets
havoc in 34.8%
Kerala
and clothing. Fortunately, Raman and
his family were out, so there were no April 2015
casualties, but many valuables were
Earthquake `11,668
reduced to ashes.
hits Nepal `10,781 8.2%
Though it won’t lessen the emotion- 13.1%
al distress of losing one’s belongings `9,538
and seeing one’s house covered in soot,
`8,057 `8,731 9.2%
a basic home insurance policy can
8.4%
9.4%
cover the financial loss. Home insur-
ance is as cheap as it is necessary. The
`7,363
annual premium of covering a house
May 2020
and its contents for `20 lakh is only
Cyclone
`900-1,200 (see graphic). The cost is Amphan hits
minuscule compared to the coverage it West Bengal
offers. Broken down to daily cost, it is 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
less than half of what you pay for a cup
Source: IRDAI, news reports.
of tea at a roadside vendor.
Yet, barely one in 20 homeowners
30% of India is quake prone
North and Northeast India are more at risk.
purchases this cover. For an average
person, his house is the biggest finan-
“People invest their life
cial investment. “People invest their Delhi savings in a house, but don’t
life savings in building a house, but
don’t do enough to safeguard this in- Jaipur do enough to protect this
43% 27% 18% 12%
vestment,” says Gaurav Arora, Chief
of Underwriting & Claims, Property
Low
intensity
Moderate
intensity
Severe
intensity
Very severe
intensity
asset. A big chunk of the net
& Casualty, ICICI Lombard General
Insurance. “We have a very optimistic
Ahmedabad Kolkata zone zone zone zone
Source: Indian Meteorological Department
worth is exposed to risk.”
Mumbai
outlook and believe that disasters hap- GAURAV ARORA
Pune Hyderabad  Climatic changes  Frequency of  Fire incidents
pen only to other people,” says Vivek
have increased cyclones and are on the rise. CHIEF, UNDERWRITING
Chaturvedi, CMO and Head of Direct Bengaluru & CL AIMS, PROPERT Y
risk of floods. storms has not Mumbai alone & CASUALT Y, ICICI
Sales, Digit General Insurance. “The Chennai Three major increased, but has over 5,000 LOMBARD GENER AL
frequency of disasters may be low, but INSUR ANCE
floods this year. remains a risk. fires in a year.
the severity of loss when the disaster
cover story
The Economic Times Wealth November 20-26, 2023 03
How much does it cost? Cost of reconstruction... Premium

quality with
The extent of cover should be branded
The essential insurance that your house needs is very cheap.
linked to the reconstruction cost. fittings
Class A
ESSENTIAL COVERS construction
with good
`3,500-4,000
Damage to building Basic quality fittings PER SQ FT
The basic home insurance that everybody needs. It covers the structure with
structure for damage by natural calamities, such as earthquake, fittings
lightning, storms and floods, and man-made perils, such as fire, `2,000-2,500
vandalism and riots. The policy pays for repairs and reconstruction of PER SQ FT
the damaged property. `1,200-1,500
PER SQ FT
Cost of cover: `15-30 per `1 lakh
Damage to contents ... and cost of insurance

Apart from the building, you can also cover the contents against these
perils. The premium is slightly higher for this coverage, though some Yearly premium for insuring a 1,000 sq ft house
companies charge the same rate for both the building and contents.
`240-300 `400-500 `700-800
Burglary or theft
to. The mushrooming of high-rise buildings
The house contents also need to be insured against burglary or theft.
The items to be covered (furniture, artefacts, clothing, appliances,
“Flat owners need not depend and growing use of gadgets and appliances have
gadgets) are specified and insured for an agreed value determined by on home insurance taken by the increased the risk of fires. According to one es-
timate, Mumbai witnesses more than 5,000 fire
the customer and insurance company.
housing society. They can buy incidents every year, and 70% of these are caused
by electricity. Both Delhi and Bengaluru record
an additional cover for their about 2,500 fire incidents in a year. “Fire incidents
are on the rise because the use of electrical and
GOOD TO HAVE COVERS unit and its contents.” electronic gadgets has increased the load on elec-
trical wiring, especially in high-rise buildings,”
Breakdown of gadgets GURDEEP SINGH BATRA
says Arora of ICICI Lombard General Insurance.
Gadgets in the house can also be covered against breakdown. Here, In many cases, the fire may not even start, but
HEAD OF PROPERT Y
again, the items have to be listed and insured for an agreed value UNDERWRITING, BAJAJ ALLIANZ the interiors may still get damaged. Chaturvedi
determined by the customer and insurance company. GENER AL INSUR ANCE of points out that once a fire alarm gets activated,
water pressure from the sprinkler system often
Cost of cover: `200-300 per `1 lakh damages the interiors. The electronic gadgets
in the house will also get damaged due to water.
EMI protection Unless the contents are insured against damage,
If the houseowner had taken a loan for the damaged property, he the owner will suffer a loss even if there is no fire.
can buy protection against EMI payments. The insurance company Some people have this misconception that
pays the EMIs for a specified period when the damaged house is if they live in a rented house, they don’t need
being repaired or reconstructed. home insurance. Any damage to the house will,
Cost of cover: `2,500 for six months’ EMIs of course, be the landlord’s headache, but what
about the contents? You also need insurance
Alternative accommodation against any damage to the contents (by natural or
If the house is damaged, a tenant will have to take up alternative man-made disaster), and against burglary.
accommodation. If the rent for this is higher than that being paid
by him for the damaged house, the insurance company will pay the
Essential covers for your house
difference for the period specified in the policy. If we have convinced you to buy home insurance,
here are the things you need to consider. Buy a
Cost of cover: `2,500 for six months’ rent policy that fits your needs. Three years ago, the
insurance regulator made it mandatory for gen-
Loss of rent strikes is very high,” he adds. eral insurers to offer a standard home insurance
If the damage to house makes it unlivable, the owner will suffer loss policy. The Bharat Griha Raksha (BGR) policy of-
of rent. Houseowners can safeguard themselves against this loss Buyers nudged by nature fered by all insurers covers damage to the house
with an add-on cover that pays rent for a chosen period. Perhaps the most effective salesperson for home by natural calamities, fire, explosion or even
Cost of cover: `2,000 for a rent of `25,000 insurance is nature itself. Every time there is a external forces, such as a tree falling or a vehicle
per month for six months natural disaster, home insurance sales pick up. crashing into the wall. It also covers many asso-
In August 2018, floods wreaked havoc in Kerala. ciated costs of damage, such as removal of debris
The following year, the fire and allied perils seg- and fees of the architect or consulting engineer.
ment witnessed a 34% jump in premium income Though this policy offers comprehensive in-
AVOIDABLE COVERS as homeowners rushed to cover their houses and surance, the standard BGR has its limitations.
valuables. In May 2020, cyclone Amphan hit West The policy covers contents up to `10 lakh or 20%
Personal accident Bengal and premium income shot up 27% in 2020- of the cover, whichever is lower. A cover of `10
Houseowners can bundle in a personal accident cover 21 (see graphic). lakh may not sufficiently cover the contents of
with their home insurance policy. This cover is very However, public memory is short, and once the the average middle class home. “If you have high-
cheap, though the insured amount is not very high. memories of disaster recede, home insurance is value items in your house, you should consider
Cost of cover: `300 for `5 lakh relegated to the backseat again. “We saw a paral- buying an additional cover for the contents,”
lel in health insurance recently. When Covid says Gurdeep Singh Batra, Head of Property
Baggage loss struck and medical bills shot to stratospheric Underwriting, Risk Engg, Global Accounts and
Another add-on cover is for loss of baggage during travel. levels, there was a massive surge in the purchase Coinsurance, Bajaj Allianz General Insurance.
This cover may not be very useful. In any case, a travel policy of health insurance. Now that the threat has gone The BGR offers an additional cover for valuable
taken by the individual will also offer baggage cover. away, health insurance is back to normal levels,” contents on an agreed value basis, where the
says Chaturvedi of Digit General Insurance. value is determined by mutual agreement.
Cost of cover: `250 for baggage worth `50,000 Devastating earthquakes, cyclones and floods “One can also buy breakdown cover for gadgets
are not the only risks that your house is exposed and appliances,” says Tarun Mathur, CBO,
cover story
What home insurance will not cover

A home insurance policy will not pay in certain situations. Know about the exclusions of such plans.
W
hile a home insurance policy
will protect you against several Residential or commercial
risks, there are also exclusions Make sure you have taken the right in-
in the contract. Some of these are quite surance policy. “A house leased out to a
obvious and logical, but others may be holiday rental company will be treated as
hidden in the fine print. The following a commercial property and a home insur-
will not be covered: ance policy will not cover it,” says Vivek
Chaturvedi, CMO and Head of Direct
Deliberate damage by owner Sales, Digit General Insurance
If the damage happens due to a deliberate
action of the property owner, the loss will Faulty construction
not be covered by insurance. Likewise, If a house gets damaged due to faulty
any loss due to misuse of a device or appli- construction, the home insurance policy
ance will not be covered. Companies go will not pay. Likewise, if the damage is
to great extents to detect any evidence of due to the use of sub-standard or inap-
fraud or attempts to mislead. propriate material, the loss will not be
compensated.
Outside coverage area
The contents of the house are covered as aged, the loss will not be covered. ture. The contents of the house may not Demolition by authorities
long as these are inside the house. “The be covered. “Homeowners should take If the house is damaged following orders
coverage is limited to within the insured Group cover for structure a separate cover for their unit and its of a public authority, the loss so incurred
area,” says Tarun Mathur, CBO, General Housing societies also take insurance contents,” says Srabasti Dhali, Vice- will not be covered by home insurance.
Insurance & Co-founder, Policybazaar. cover for the housing complex. However, President & National Manager, PCG & The removal of illegal or unauthorised
If the contents are taken out and get dam- this cover is often limited to the struc- Home, TATA AIG General Insurance. constructions will not get compensation.
“A multi-year plan saves HOW TO BRING

one the trouble of annual DOWN HOME
renewals, locks future INSURANCE COST
premiums and hikes the
Worried by the cost of home
cover by 10% every year.” insurance? Here are ways to
SRABASTI DHALI
reduce the premium.
VICE-PRESIDENT &  AGREE TO PAY: If you agree to pay
NATIONAL MANAGER,
PCG & HOME, TATA AIG a minimum amount for the repair of
GENER AL INSUR ANCE your house and contents, the pre-
mium is reduced. However, not all
companies offer this option.
“We tend to believe disasters to cover, mentioning the item, the year of
purchase, model and machine number, and
General Insurance & Co-founder,
Policybazaar.com.
 BE SELECTIVE: Don’t insure all items happen only to other people. its value. Keep in mind that insurance com-
panies value appliances, gadgets and other
in the house. Very old items, with low
Don’t undervalue depreciated values, should be kept
The frequency of disasters items using the standard depreciation for-
mula. The value of the item keeps reducing
While buying home insurance, make
out of the list. may be low, but the severity over the years. So an electronic item bought
sure you have sufficient cover. Yes,  ENHANCE COVERAGE: Some compa- for `50,000 two years ago will now be worth
you need to insure only the value of the nies offer discounts if you take 2-3 of loss is very high.” only `20,000-22,000.
structure, not the cost of the property, add-on covers. This may not bring It’s important to revisit this list every
but make sure you have calculated the down the premium, but will enhance year when the policy comes up for renewal.
reconstruction cost correctly. “Home your coverage. VIVEK CHATURVEDI You may have discarded some items in the
insurance buyers often make the mis- CMO AND HEAD OF list or added new ones. Make sure to notify
 INVEST IN SAFETY: If you install DIRECT SALES, DIGIT
take of linking the cover to the loan safety measures, such as fire safety GENER AL INSUR ANCE
the company for any additional item and fur-
taken for the property,” says Batra alarms and fire-fighting equipment, nish all the required details. If the overall
of Bajaj Allianz general Insurance. you can get discounts ranging from value of the contents is within the insurance
The cost of reconstructing a basic 10-15%. policies increase the base cover by 10% eve- cover opted for, there won’t be any change in
quality structure is only `1,200-1,500 ry year to offset the impact of inflation. “A premium. This is why it is advisable to use
per square foot. But if your house has  CLAIM TAX BENEFITS: If you are a multi-year policy saves the buyer the trou- the services of an insurance agent so that
premium fittings and a lot of branded self-employed professional or busi- ble of renewing it every year, locks in the there is no discrepancy.
stuff, the cost will be much higher at nessman, you can claim deduction for premium amount for the future, and even If you want to insure some art or artefacts,
`3,500-4,000 per square foot (see graph- the amount spent on home insurance. takes care of inflation by way of 10% an- you will need a valuation certificate from
ic). Buy adequate cover for your house. This benefit is not available to sala- nual increase in home building cover,” says a certified agency. This requirement is
The other common mistake is that ried people. Srabasti Dhali, Vice-President & National waived if the item is worth less than `1 lakh
buyers don’t review coverage when the  BUY MULTI-YEAR PLAN: A multi-year Manager, PCG & Home, TATA AIG General and the total value of such items does not
policy comes up for renewal. Inflation plan will increase the cover by 10% Insurance. exceed `5 lakh.
will push up the cost of construction every year. This will not bring down
every year, so you need to increase the the cost per se, but will enhance your Valuation of contents
cover accordingly. One way to do this The valuation of contents is critical. Start by Please send your feedback to
cover at no extra cost.
etwealth@timesgroup.com
is by taking a multi-year policy. Such making an inventory of the items you want
financial planning
FOMO triggers for investing

Be wary of any investment opportunity, whether it’s stocks or properties, that exploits your fear of missing out
and forces your hand by offering time-bound, unique propositions, says Uma Shashikant.
activity with time limits. There will always
be a set of good stocks to buy and proposi-
tions to evaluate. Even entrepreneurs face
this dilemma between business strategy
and opportunity. Grabbing what is seen as a
unique proposition is more attractive than
sitting down and making a business plan,
figuring out how to fund, operate and mar-
ket a business.
Strategy is seen as boring by many. By it-
self, strategy won’t take a business or an in-
GETTY IMAGES
vestor too far. Strategy needs to be combined
with timely action, the motivation for which
tends to be something attractive, but time-
bound, calling for immediate action. Most of
our decisions suffer this behavioural limita-
tion. What can we do?
First, frame the principles that will guide
any investment decision. Anything you do
must satisfy this criterion. This discipline
is developed with practice and conviction.
If we pause to consider that we don’t have
to deal with the markets that still evade the
law and deal in cash, we won’t be buying
those second and third houses, and suffer-
ing poor construction, and unbearable time
H
overruns. We can learn to play by the rules
e insisted that I take a look at his have seen many such cycles, but investors op- that appeal to us and define our investment
portfolio. Unless it is a close friend erate with the desire to be a part of the next big approach.
or family, I refuse to get into the thing in every cycle. Second, resolve not to be pushed into mak-
micro decisions of what to buy, We have had incidents of fleeing finance ing a decision. Anything that is positioned
sell or hold. As expected, there companies that mobilise investor deposits. as ‘do it now, or it will go away’ must be
were a few loss-making IPOs, some good, and The modus operandi primarily focuses on viewed with caution. Good quality invest-
some not-so-good stocks. I suggested he simply pitching the deposit as an extremely attractive ment returns are boring and happen over
buy the Nifty ETF instead. He felt disappoint- proposition that should not be missed. The in- time. Buying businesses and funds with
ed. We began talking about his portfolio and terest rates are high, a local man is appointed track records of performance is always su-
how he had built it over time. He excitedly ex- as branch manager, and there are investors perior to trying something new. Don’t use
UMA SHASHIK ANT plained how he had made money on some of his who have received and encashed interest new offerings as your shot at entrepreneur-
IS CHAIRPER SON, picks. He underplayed the losses, but these did payments. Investors rush in, staking large ship and risk-taking.
CENTRE FOR INVES TMENT nag him. Then I caught the trait that, I believe, sums, sometimes their entire life savings, so Third, minimise what you allocate to
EDUC ATION AND LE ARNING drives most investor decisions—choosing the that they do not miss the opportunity to make these ‘not to be missed’ opportunities. One
right stock is not as important as missing out money. of my banking friends took voluntary retire-
on what seems like a good opportunity. High net worth investors are no exceptions. ment and staked his retirement proceeds in
An investor does not begin with the intent Investment schemes are created with the tag of PSU bank stocks. I know the business very
of being careless about his money. He wants to being exclusive. They love the idea that a port- well, he said. What he relied on was the fact
deploy the money carefully, and make profits, folio has been curated for a select group of peo- that the government won’t let banks fail.
periodically monitoring his choices. However, ple. The idea that this investment opportunity Remain wary of these one-line strategies
Resolve not to be the actual process of choosing where to invest, is not available to others makes it attractive that stake everything based on a single
pushed into making and which stock or funds or bids to buy, is way- for them. The stories of losing money to such premise. If you must, invest a small amount
a decision. Anything laid by the anxiety about not missing a good op- dubious investment ideas in stocks, deriva- so you don’t get hurt.
that is positioned portunity to make money. It is this weakness tives, private equity ventures, and many exotic My friend had just begun wondering
as ‘do it now, or it that is exploited in the marketplace. combinations of the above, are privately rued why I was proposing the Nifty. Aren’t these
will go away’ must A previously unknown name is suddenly by the rich. the same boring stocks, he asked. His son-
be viewed with in the news as ad spends are increased before We have just completed a sales cycle of on- in-law joined in and said, “I invest every
caution. Good quality the IPO is launched. Companies are able to line shopping frenzy, where the best discounts month in the Nifty. Whatever balance I
investment returns allocate expenses for this activity and push were on offer. The seller was only taking ad- have at the end of the month, I swipe it into
are boring and happen positive news about the forthcoming issue of vantage of the buyers’ sense of urgency to get the index, so that the money doesn’t remain
over time. Buying shares. Even if there is criticism, analysis and the best deal. This auto feedback cycle enables idle,” he said. Our man was immediately
businesses and funds adequate cautionary warnings, investors are discounts, which are but sales volume benefits impressed and was ready for action. Such is
with track records of only evaluating if this is too good an opportu- that the seller splits with the buyer. Do not the lure of positioning. We have to see some-
performance is always nity to let go. miss this opportunity, is the credo. Properties thing as an opportunity and feel the need to
Their evaluation is typically weak. If the are sold with the tag, ‘by invitation only’. be included. We can’t stop ourselves from
superior to trying
IPOs that came before this one have listed at a Timeshare holidays are sold as offers expiring acting on it then.
something new.
premium, this information alone is enough to ‘very soon’. As long as something is framed
glorify it as a great opportunity. Subsequently, as an opportunity that should not be missed,
there is an IPO frenzy, wherein everything there are buyers waiting in line.
Please send your feedback to
on offer is lapped up. Investors discard every There is truly no scarcity of investment
shred of rationality to join the bandwagon. We opportunities. Entrepreneurship is not an
mutual funds
Time for large caps to shine?

Given the relative valuations and shifting market dynamics, experts expect a resurgence in large-cap stocks.
GETTYIMAGES
The brokerage recently removed SRF from

the model large-cap portfolio and allocated
the weight to HDFC Bank, ICICI Bank and
Reliance Industries.
Analysts at Motilal Oswal expect the secto-
ral rotation to continue based on valuations.
“There are significant divergences in the
performance of large caps versus mid/small
caps and across sectors. We believe that in
the midst of volatility over the next couple of
quarters, sectoral rotation could be a more
important driver than the general market
uptrend.” According to Motilal Oswal ana-
lysts, the sectors that are still trading at rea-
sonable valuations include banking, auto,
healthcare and select large-cap IT stocks.
Their top large-cap ideas include ICICI
Bank, ITC, Bajaj Finance, L&T, HCL Tech,
M&M, Titan, Avenue Supermarts, Ultratech
Cement, M&M, BoB, and Zomato.
Apart from the comfort of valuations,
large caps could benefit from the ongoing
pullback in the market, owing mostly to the
flight of foreign capital on the escalation of
geopolitical tensions and other global wor-
ries. Once the global risk appetite improves,
foreign investors are likely to flock back to
the Indian markets. These flows will mostly
be pumped into the large-cap basket.
This is not to suggest that the mid- and
small-cap story is over. In a growing econo-
my like India, the big, long-term wealth will
by Sanket Dhanorkar The divergent return profile has led to cap, compared to 74% in January 2020. continue to be created in mid- and small-cap
T
compression in the historical premium of Meanwhile, their current share in the total space. However, given the current dynamics,
he mid-cap and small-cap large-cap stocks relative to mid and small profit pool stands at 70%. Comparatively, the experts reckon the probability is higher that
segments of the market caps. Even as the bellwether Nifty 50 index combined market cap of mid and small cap large caps will outperform the broader mar-
have held sway for a while trades at 20.45 times trailing 12-month earn- comprises 25% of the total universe, com- ket in the coming year. The investors who
now. Large caps have ings, the Nifty Midcap 150 is valued at 25 PE pared to 22% in January 2020. The current are underweight in large caps may consider
merely plodded along. For and the Nifty Smallcap 250 at 23.5 times. share of mid and small caps in the corporate rejigging their allocation to take advantage
year-to-date returns in 2023, the Nifty Amid the broader market rally, the contri- profit pool is 23%. of this shift. It is critical that you continue
50 has gained 5%, even as the Nifty bution of mid and small caps to the overall “In our view, large-cap stocks offer better allocating to mid and small caps. Deepak
Midcap 150 and Nifty Smallcap 250 market cap has risen sharply over the past reward-risk balance, given the more reason- Jasani, Head of Retail Research, HDFC
indices have soared 23% and 27%, year. According to data from Capitaline, able valuations, versus the lofty valuations Securities, believes that the Nifty could do
respectively. Given the relative valua- the top 100 companies by market cap now of most mid- and small-cap stocks,” contend better than small and mid caps over some
tions and emerging market scenario, account for just 65% of the total market the analysts at Kotak Institutional Equities. months or quarters, but on an overall basis,
experts reckon that conditions could the broader market may still do well. “Small-
be ripe for large caps to take over the and mid-cap space is where one can hope to
performance charts over the next year. Large-cap risk-reward Bigger firms cede space gain alpha (excess return) and, hence, out-
The recent mania in the mid- and
small-cap space sent stock prices to
appears favourable to broader market performance in individual stocks can hap-
pen through the year,” he says. Jasani also
dizzy heights, often without the earn- The recent market correction has barely Large caps’ share of market value has de- feels that the valuations of small-cap and
ings tagging along. The correction in made a dent in mid and small caps. clined even as they dominate profit pool. mid-cap indices seem higher as these indices
the broader segments may give the include some loss-making companies.
impression that the froth in the space
YTD return (%) 26.82 Share in total market cap
Interestingly, among actively managed eq-
has receded. However, this is far from 10 Jan 2020 10 Nov 2023 uity funds, the past year has seen the highest
reality. Even as several mid- and small-
22.55 proportion of large-cap funds outperforming
cap stocks have seen sharp cuts, the Top 100 companies (large caps) their benchmarks. Most mid-cap and small-
correction is modest against the meaty cap funds, on the other hand, have lagged
rise witnessed in their stock prices their respective indices, even as the broader
over the past six-seven months. It has 70% 65% market saw a sharp rally. This is in sharp
barely made a dent in the lofty valua- contrast to the previous few years, when
tions for some of the high-flying stocks large-cap equity funds underperformed woe-
in this basket. “We do not find value in fully. If large caps start outperforming, it
most mid- and small-cap stocks in our 5.38 101-400 companies (mid and small caps)
will be worth monitoring if large-cap equity
coverage universe, given the extent PE funds keep pace with the benchmark or if
of re-rating in multiples seen in the 20.45 25.08 23.46 they start underperforming again.
past 9-12 months despite weakening
Nifty50 Nifty Nifty 23% 25%
business models and eroding business Midcap Smallcap
moats,” observe analysts at Kotak 150 250 Please send your feedback to
Institutional Equities. Source: NSE Source: Capitaline | Compiled by ETIG Database
guest column
Keep calm during a crisis

During market turbulence, simply focus on the long term, says Dhirendra Kumar.
I
n theory, every inves- In any case, volatility is an in- and low-quality stocks, creating principles, long-term investors
tor knows that the stock tegral part of the package. There buying opportunities. Our best can ride out periods of decline
market is a fickle beast. In will always be downturns, cor- bet is that, during such times, and continue compounding
practice, when the markets rections, and bear markets mixed we avoid panic and actively wealth over their investing
enter a period of decay, it’s with uptrends. However, histori- hunt for opportunities. horizon. ‘Time in the market
normal for investors, even the cally, the overall trajectory of the In uncertain times, having a beats timing the market’ may
seasoned ones, to feel uneasy and stock market has been up through prudent strategy focused on the be an old cliche, but it’s a cliche
stay awake with unanswerable wars, crashes, bubbles, and pan- long term is critical. The win- because it’s true.
questions: will it keep dropping ics. Maintain a long-term mindset ners avoid emotional reactions,
until it hits zero? How long will and ignore short-term noise. The take advantage of volatility to
this downturn last? Is now a good nature of investors’ errors has buy low and stay disciplined. Please send your feedback to
time to buy into the dip? These changed in the past decade or so. With a level head and sound
DHIRENDR A KUMAR questions may not have answers, There is now a lot of noise gener-
CEO, VALUE RESE ARCH but there are some tried and tested ated by mainstream and social
principles that long-term inves- media. Trends like crypto and
money
tors can follow to help ride out profitless digital companies have
periods of volatility. made it worse. This constant bar-
mysteries Resist the urge to panic when

stock prices are falling sharply.
rage of information, opinions, and
hysteria surrounding short-term
More often than not, impulsive market moves can lead to poor
selling during downturns locks decision-making driven by FOMO
in losses and makes it hard to par- (fear of missing out), YOLO (you
ticipate when the recovery eventu- only live once), FOBI (fear of being
ally takes place. A better strategy included), and their older counter-
An investing is to focus on your long-term goals parts, greed and panic. It’s crucial
framework based and avoid making fear-based deci- to tune out the noise, stick to the
on logic, rather than sions. Remember that the market fundamentals, focus on intrinsic
emotions, provides corrections and bear markets value, and keep your eyes on long-
are normal in an investing cycle. term portfolio goals.
stability during
Historically, Indian markets have An investing framework based
manic markets.
always recovered to attain new on logic, rather than emotions,
Diversification is the highs, and that too, in a fairly provides stability during manic
cornerstone of stock short periods. Times like these are markets. Despite these apparently
investing safety. an opportunity to rebalance one’s new phenomena, diversification is
However, only a few investment portfolio. Rebalancing the cornerstone of stock investing
investors realise essentially means selling assets safety. However, only a few inves-
that have increased significantly tors realise that diversification
that diversification
and buying those that have fallen. works consistently over the long
works consistently
This allows you to buy low and sell term. Markets tend to converge
over the long term. high. Rebalancing also returns to the mean over time. Over short
Markets tend to your portfolio to original target periods, almost any principle
converge to the asset allocation, controlling risk. can collapse. Instead of panick-
mean over time. Downturns present a good oppor- ing over price fluctuations in the
tunity to rebalance the stocks at broader market, focus on finding
lower prices. high-quality companies trading
Interestingly, when stock at a discount. Market downturns
markets are down, many inves- indiscriminately punish high-
tors’ reactions and panic
are directly fed by how
well they manage their
financial lives outside
the markets. To be a good
equity investor, ensure
you have an emergency
fund with enough cash
to cover a few months of
expenses. Do the obvi-
ous things like paying
off high-interest debt,
defer large discretionary
purchases, and explore
income diversification, if
possible. The people who
do these things become
better equity investors
even though these have
nothing to do with equity.
A panicky person will not
make good decisions in
any aspect of life.
QA
your queries
&
We are three brothers and have inherited an I am retiring on 30 November 2023. I shall get `75
ancestral property that was purchased in Kolk- lakh from my PF and gratuity. My PPF balance is
ata, in 1946. The land acquisition cost was `25 lakh. I shall get `75 lakh in November 2025
`10,000, and a two-storied house was built at from a Ulip. We are a family of three and live in my
a cost of `14,000, in 1950. This year, the prop-
own house in the suburbs of Kolkata. I don’t have
erty was redeveloped, and the builder gave us
`45 lakh and three flats. I sold the flat for `40
any financial liabilities. I want to earn `50,000 per
lakh in September 2023. My cash share was month from my savings. Please advise.
`15 lakh, received in August 2023. What is my
capital gains tax obligation?
Our panel of experts will We can use a two-bucket system to generate `50,000 a
month after your retirement. First, put `30 lakh in the
The first part denotes the long-term capital answer questions related to Senior Citizens’ Savings Scheme, which, at 8.2% per
gain on the sale of your right in the ances- annum, will generate `2.46 lakh in annual interest
tral property which was held for more than any aspect of personal income. Put another `30 lakh in bank FDs, which will
24 months. In this part, you received cash finance. If you have a query, give 7-7.5%. This will give another `2.2 lakh in inter-
consideration and a flat in exchange for est income. Third, assuming your PPF account with
your rights in the ancestral property. To mail it to us right away. `25 lakh has completed its first 15 years and is in a
calculate this, you need to subtract your five-year extension period with contribution, you
share (one-third) of the cost indexed fair
market value of the ancestral property QUESTION OF THE WEEK can make one tax-free withdrawal each year. At
7.1%, an interest income of `1.7 lakh is generated
from the fair market value of the redevel- each year, which you can withdraw, leaving the prin-
oped flat on the date of allotment, and `15 cipal of `25 lakh intact. The FD portfolio can also act
lakh cash received. The resultant value, if as an emergency/medical contingency fund and an
positive, will be subject to 20.8% long-term
My stock portfolio is worth `48 lakh. ongoing liquidity reserve. The remaining `15 lakh
capital gains tax. The second part denotes The shares were bought by my parents can be invested in equity to grow and generate infla-
the short-term capital gain on the sale of in India and gifted to me. I am currently tion-beating returns, if your risk appetite allows it.
redeveloped flat since it was held for less employed in Canada. I want to buy a The money can be diversified and put in 2-3 schemes
than 24 months. In this part, you sold the house in Canada by selling all my equi- from categories like large-cap index funds, flexi-cap
asset as a part of the redevelopment agree- funds, and aggressive hybrid funds. The corpus of
ty holdings in India. What will be my
ment. To calculate this, you need to sub- `75 lakh in Ulip, which will become available only in
tract the fair market value of the flat on the tax liability? 2025-26, can also be deployed in these two buckets
day of allotment from `40 based on the market conditions and any change in
lakh sale consideration re- your income or other requirements.
When assets are inherited or gifted, and
ceived. This value will be You also need to make sure that
subsequently sold by the taxpayer, it gives rise
taxed at your slab rate. you have adequate health insur-
to capital gains. The taxpayer will have to pay
ance in place.
tax on short-term capital gains (STCG) or long-
Shubham Agrawal term capital gains (LTCG) depending on the profit
Senior Taxation Adviser, from the sale of such assets as per the holding Dev Ashish
TaxFile.in period. After the computation of capital gains, Founder, StableInvestor, and
cost of acquisition, cost of improvement and any Sebi-registered investment adviser
expenses related to the transfer of capital asset
I am 28 years old. I have a mutual fund portfo- shall be deducted from the full value of
lio of about `38 lakh, fixed deposits worth `10 I am about to retire in a month and want to have
consideration, that is, sales consideration. In the
lakh and liquid funds worth `5 lakh. I also have regular income from my funds, which are worth `1.5
case of gift or inheritance, the purchase price of crore. I have my own house and no liabilities. I have
life insurance worth `1.5 crore. I have vested
restricted stock units (RSUs) of a Nasdaq listed
the previous owner is treated as the purchase zero appetite for risk. Please suggest how to gener-
company worth `48 lakh, and non-vested RSUs price for computing capital gains of the taxpayer. ate about `1 lakh per month.
of another company worth `30 lakh. As compa- Hence, to calculate the capital gains on the sale
ny stocks are a large part of my annual compen- of the inherited share, the period of holding will
An assumption of `12 lakh per annum today would be
sation, how should I diversify this amount? commence from the original date of acquisition
about `35 lakh per annum 22 years from now, assum-
by your parents.
ing 5% inflation and life expectancy of 80 years. A
The capital gain will be treated as short term if
risk-averse portfolio will give a lower post-tax return
As a preliminary step, understand the terms the period of holding is up to 24 months in case
of 6.5-7%. The corpus of `1.5 crore, if invested in a
and conditions for your RSUs. An RSU can be of unlisted shares, and 12 months in case of
risk-averse option, with `1 lakh monthly outflow, will
liquidated only after vesting and this may be listed shares and securities. Generally, LTCG is
last for only 14 years. This may entail the need for an
contingent on factors like employment dura- taxable at the rate of 20% in case of unlisted
additional corpus of about `65-70 lakh. You could
tion, performance milestones and ongoing em- shares and STCG is taxable at slab rate. However,
consider a systematic withdrawal plan (SWP) from
ployment with the company. RSUs also entail the LTCG on listed equity shares and units of
debt mutual funds, bonds or annuity plans. You may
complex tax treatment. Taxation is due both equity-oriented mutual funds would be taxable
also want to include your PPF/EPF investments in the
on vesting and selling, with implications for at the rate of 10% on the amount exceeding `1
computation or try increasing your corpus to ensure
LTCG or STCG depending on the holding dura- lakh, and at 15% on STCG in case of listed shares.
no slippages. We assume you have enough health
tion and the company’s listing status. As a first Therefore, assuming that these are listed shares
cover. Alternatively, at close to half of equity market
step in assessing your net assets and crafting a and have been held for more than a year, your
risk, you can bring `30 lakh investment and invest in
diversification strategy, take counsel from le- tax liability is 10% on the capital gains earned on
balanced advantage funds or a basket of hybrid funds
gal and tax experts to understand your options the sale of these shares.
with a slightly higher risk (9-12% returns). If the cor-
regarding vested and unvested RSUs. Based on Further, for any shares bought by your parents
pus cannot be raised, this strategy will last for about
this, you can consider liquidating vested RSUs before 1 February 2018, the cost of these shares
19 years. You can also consider ICICI Mutiasset Fund,
partially and reinvesting in mutual funds for would be considered as higher of the
which comes with higher risk, but a well-diversified
diversification. Tailor your investments to spe- actual cost or the closing price
portfolio across asset classes, which can
cific short-term, medium-term, and long-term of these shares as on 31
potentially help you achieve your
objectives. Select the right instrument for each January 2018. Your
target.
of your goals, say, ELSS for re- residential status will not
tirement planning, and track make a difference,
your progress towards each whether you are based Anupam Guha
goal individually. Head, Private Wealth
in Canada or India.
Management, ICICI Securities.
Amit Maheshwari
Adhil Shetty Partner, AKM Global Have a question for the experts?
CEO, BankBazaar etwealth@timesgroup.com
financial planning
PAPER WORK
:: Home loan overdraft facility
The concept of home loan with overdraft facility is gaining
popularity as a financial tool. It is basically an extension of
a conventional home loan, which provides the borrower the
option of parking any additional funds in a linked account. This
offsets the interest payable on the outstanding loan amount
and becomes a flexible and cost-effective way to manage home
loans. Here is how one can go about availing of the facility.
Choose a lender with overdraft option

The first step is to identify lenders that offer overdraft
facilities. Not all financial institutions or banks provide
this option, so it is crucial to conduct thorough research.
GETTY IMAGES
Meet eligibility criteria
Prospective borrowers must meet the eligibility
criteria. This includes factors such as creditworthiness,
How to transmit
income stability, and value of the property being financed.
Apply for home loan
wealth to children
The borrower initiates the application process. During
this stage, it’s essential to express interest in the over-
draft facility and understand the associated terms and conditions.
N
Surjeet is a retired civil omination is a simple have to provide documenta- Application evaluation by lender
way to ensure that in- tion, as required. It is also im- The lender evaluates the borrower’s financial profile
servant, who has accu- vestments are trans- portant to note that transmis- and assesses the feasibility based on credit history
mulated a good amount mitted to children. sion does not amount to final and repayment capacity of the borrower.
of wealth in his lifetime However, there is documenta- settlement under succession
tion involved. Gifting to chil- laws. The nominee only holds
through his investments. Documentation
dren is simpler, but irrevoca- the wealth as a trustee until
Completing the necessary documentation is a critical
He has just turned 62 and ble. A will that seeks formation disputes, if any, are settled. He
phase. Borrowers must provide proof of income, prop-
of a trust or Hindu Undivided can consider writing a will,
lives with his son’s fam- erty documents, and other standard documents.
Family (HUF) is tax-efficient. which can also be amended by
ily. He knows that both Surjeet needs to seek options him at anytime. The will can
his son and daughter are that are flexible and help save list all his wealth, including Approval and disbursement
tax. Inheritance itself is still residential property and gold, On successful evaluation and documentation, the lender
aware of the personal not subject to tax, though the which do not have nomination approves the home loan with overdraft feature. The
wealth he holds and are income from inherited wealth facilities. sanctioned amount is then disbursed.
hoping to inherit it. He is taxable. If the taxability of inherited
Surjeet may not be able to income is to be optimised, his
wants to ensure that avoid the documentation is- children can create a Hindu
Interest savings
Surplus funds in the linked account offset the interest
his wealth is equitably sues that are involved in the Undivided Family structure.
transmission of his wealth. If Inheritance is the basis for cre- on the outstanding amount. Interest savings can lead to
distributed among his he chooses nomination as the ating an HUF, whose income faster repayment of principal, reducing the loan tenure.
children, without dispute
:: Points to note
route, he can change it any and wealth could grow over
or procedural hassles and number of times during his time and be taxed. Creating a
lifetime. In order to get the trust with his children as ben- Borrowers can withdraw and deposit funds from the linked
in a tax-efficient manner. investments transmitted to eficiaries will also enable such account at their convenience. While this option offers flexibility,
What are his choices? themselves, his children will separation of incomes. borrowers should be mindful of any associated charges or fees.
Content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
smart things to know

e-Gold
1
Investors
who like to
buy gold can
now do so
electroni-
2 3 4 5
Gold units
represent-
e-Gold
can be
convert- Gold units
Buying e-Gold
units involves
brokerage,
cally using ing 1 gram ed into have to be transaction
the trading of gold physical bought in costs, stamp
platform each, can be gold at a demat duty, demat
of the Na- purchased any time, account account charges
tional Spot through at centres opened and cost of
Exchange a trading specified with a trad- converting the
Limited member on by the ing member units into physi-
(NSEL). a t+2 basis. NSEL. of the NSEL. cal gold.
stocks
despite high inflation is likely to keep policy

rates high, which can impact the FPI inflows
in the near term,” says a recent Prabhudas
Lilladher report. The Lok Sabha elections
are also going to be the most important event
for markets over the next 12 months.
Though the Brent crude price has cooled
to $86 per barrel against $98 in the last week
of September, analysts fear that the fall could
also indicate the slowing global economy.
V.K. Vijayakumar, Chief Investment
Strategist at Geojit Financial Services, ex-
pects the three drivers of the global economy
(US, China, Euro Zone) to struggle in 2024.
He believes that though India is outperform-
ing now, it would be difficult to decouple
from this global slowdown.
Measuring market risk

The market risks can be evaluated by look-
ing at the beta statistic that measures the
sensitivity of a stock’s return to an index
GETTYIMAGES
return. A stock with a beta greater than 1 is

considered volatile as its share price varies
at a higher intensity compared to the market
index (benchmark). The data compiled from
the Reuters-Refinitiv database, using weekly
returns for the Nifty 500 stocks, shows that
over 60% of the constituents have seen a
Low beta stocks can

rise in beta value in the past year, between
November 2022 and November 2023, com-
pared to the corresponding period of the
previous year. Nearly 59% of the stocks have
had a beta of more than 1 in the past year.
manage risks better

ET Wealth tried to identify the stocks that
have maintained a low volatility profile over
a period of time. The beta for the constituent
stocks of the Nifty 500 index were calcu-
lated for the last one year, three years and
five years using weekly returns data from
With volatility intensifying amid rising external risks, stocks with low November 2018 to November 2023. The lat-
est data is for the week ending 10 November
sensitivity to general market movements can prove useful. 2023. The beta was calculated with respect
to the Nifty 500 index. The companies with a
US bond yields. The differential hit a multi- sold over `45,000 crore worth of Indian equi- beta of less than 1 in all the three time peri-
by Sameer Bhardwaj year low in October 2023 as US bond yields ties since September 2023. ods were screened, resulting in the following
W
climbed close to 5%. The current differential “Global geopolitical situation remains five stocks. These stocks have been covered
hile the domestic fun- stands at 2.7% against the last one-year aver- grim and Israel war has added to the already by a decent number of analysts and are cur-
damentals continue to age of 3.3%. The rising US bond yields have crippled global order due to Russia-Ukraine rently offering a double-digit share price
be promising, external made the US markets attractive. FPIs have war. The strong resilience of the US economy potential.
risks have risen in
the past few months.
Volatile bond yields, stronger USD CESC
index, geopolitical conflicts in the UPSIDE
12-month Current 1-year target ANALYSTS’ RECOMMENDATIONS
Middle East, higher interest rates and POTENTIAL
forward PE price (`) price (`)
11.5%
BUY HOLD SELL
fluctuating oil prices are straining the
performance of equity markets. The 7.7 90 101 7 2 0
external risks, also known as market
risks, are non-diversifiable and cannot THE POWER UTILITY company’s PAT numbers. CESC
be eliminated through diversification, September quarter revenue and net Analysts believe the company will 119.64
but can be minimised. With such risks profit were 14.2% and 13.7% higher, benefit from the potential turnaround
expected to remain firm in the near respectively, than the Reuters-Re- of Rajasthan and Malegaon distribu- 100
future, considering stocks that are finitiv estimates. The performance tion franchisees over the next 1-2
resilient to such risks can help inves- was supported by strong growth in years and higher PLFs due to stable
tors optimise the risk profiles of their power demand across all circles and demand. Moreover, the regulated RoE
investment portfolios. a robust show by subsidiaries. The model provides earnings visibility
demand was boosted by an unusually and will support the standalone busi-
Increased market risks dry weather, plunge in hydroelectric ness. The management is planning to
imply high volatility output, and higher economic activity. explore investment opportunities in Nifty 500
Vedanta
The benchmark indices, BSE Sensex Among subsidiaries, a higher PLF renewable energy generation, which 110.67
119.64
and Nifty 50, have fallen on 22 out of (plant load factor) supported the is expected to support overall growth
38 trading days (or 58% of days) since performance of Haldia Energy, while in the future. A recent JM Financial
15 September 2023, when the markets the rise in volumes and power pur- report is bullish on the company due
closed at lifetime high values. The chase agreement (PPA) with Central to its steady earnings growth, led by
recent jump in volatility is also attrib- Railways helped Dhariwal Infrastruc- moderating losses at franchises, PPA
uted to erratic foreign inflows, which ture. Rajasthan distribution franchise at Dhariwal, steady growth in regulat- 11 Nov 2022 13 Nov 2023
are being influenced by the narrowing posted a lower loss, while Crescent ed profitability, with limited earnings Current price as on 13 November 2023.
yield differential between India and Power reported a 50% y-o-y jump in risk and healthy dividend yield. Nifty 50 12-M forward PE: 18.4. Source: Refinitiv.
stocks
ITC
ITC
12-month Current 1-year target UPSIDE ANALYSTS’ RECOMMENDATIONS
POTENTIAL 122.35
forward PE price (`) price (`)
16.8%
BUY HOLD SELL
24.7 436 509 32 4 0
100
THE DIVERSIFIED COMPANY missed estimates in the Sep- impacted by low-priced Chinese supplies, subdued de-
tember quarter due to muted performance of its agricul- mand and a fall in pulp prices. On the other hand, the agri
ture and paper segments. The revenue and EBITDA were segment was hit by export restrictions on wheat and rice.
4.2% and 5.1%, respectively, lower than the Reuters-Refin- Analysts believe that the paper and paperboard business
itiv estimates. However, the company witnessed momen- is bottoming out, and expect margin improvement over
tum in the cigarette, FMCG and hotel segments. Stability in the next few quarters. A recent report by Systematix
Nifty 500
taxes and deterrent actions by enforcement agencies on is bullish on the company and believes that the strong
illicit trade led to sustained volumes in the cigarette seg- cash generation and solid dividend yield will continue to 110.67
ment, while a robust growth in urban and rural markets, provide downside support. Moreover, the hotel business
and across channels helped the FMCG segment. demerger is positive and there could be accelerated re-
The hotel segment saw growth led by strong ARRs rating if similar actions are followed in FMCG or IT busi-
across properties, driven by retail and MICE segments, nesses. It estimates 8% and 11% revenue and PAT CAGR,
and cost initiatives. However, the paper segment was respectively, over 2022-23 and 2024-25. 11 Nov 2022 13 Nov 2023
GUJARAT STATE PETRONET KOTAK MAHINDRA BANK

12-month Current 1-year target UPSIDE ANALYSTS’ RECOMMENDATIONS 12-month Current 1-year target UPSIDE
POTENTIAL POTENTIAL
forward PE price (`) price (`) BUY HOLD SELL forward PBV price (`) price (`)
10.2 279 331 19.0% 19 1 1 3.3 1,748 2,060 17.8%
THE NATURAL GAS transmission company’s stan- Gujarat State Petronet ANALYSTS’ RECOMMENDATIONS
dalone revenue and PAT surpassed Reuters-Refinitiv 119.58 BUY HOLD SELL
estimates by 14.5% and 38.7%, respectively, in the
100
September quarter. The performance was supported 18 16 4
by higher than expected tariffs that grew 11% q-o-q.
Also, higher dividends from Gujarat Gas, owing to the THE PRIVATE SECTOR Though the slippage ratio
new dividend policy by the Gujarat government, have bank reported a mixed increased marginally, better
led to a sharp jump in the other income. performance in the Sep- recovery and upgrades led
The total volume grew by 2.8% on a sequential tember 2023 quarter, with to an improvement in the
basis, led by growth in transmission volumes across a 35 basis point sequential GNPA ratio. The RBI’s ap-
Nifty 500
CGD, fertiliser and power sectors. However, the decline in NIMs, led by an proval for the appointment
volumes declined for refinery/petrochemicals due to
110.67 increase in the cost of funds. of a new CEO will settle the
maintenance shutdowns at several refineries. However, the net profit long-standing overhang. The
The transmission volumes are expected to jump in surpassed Reuters-Refinitiv management is focusing on
the future, supported by stable domestic gas prices estimates by 1.9%. The net strengthening backend plat-
and softer LNG prices. Moreover, the new PNGRB profit grew by 24% y-o-y forms in all the segments
11 Nov 2022 13 Nov 2023 and was driven by a higher through digital initiatives.
pipeline tariff policy reduces the risk of any cut in
tariff, which bodes well for the company’s growth. of the Mehsana-Bathinda pipeline will improve its fee income and trading The bank’s subsidiaries
A Motilal Oswal report is bullish on the company growth prospects. The report estimates the LNG gains. The bank registered a also reported a strong per-
and believes that the upcoming LNG terminals in Gu- capacity in Gujarat to grow 55% over the next 2-3 robust credit growth of 18% formance during the quarter.
jarat, improved demand owing to the focus on reduc- years, and most of this volume will flow through y-o-y, led by strong traction Kotak Securities’s profit
ing industrial pollution, and commissioning of Phase-II the company’s network. in credit cards, personal grew 45% y-o-y and Kotak
loans and consumer banking. AMC’s AUM jumped 28% y-o-
GODREJ CONSUMER PRODUCTS On the other hand, deposits

grew by 23% y-o-y led by
y. On the other hand, Kotak
Mahindra Investments reg-
12-month Current 1-year target UPSIDE ANALYSTS’ RECOMMENDATIONS term deposits. istered a strong growth of
forward PE price (`) price (`) POTENTIAL BUY HOLD SELL The bank’s asset qual- 62% y-o-y. However, Kotak
44.6 981 1,118 14.0% 27 5 2 ity remains strong, with
a decline in restructured
Life witnessed a sequential
jump in net profit, but the
THE CONSUMER GOODS company reported a con- loans during the quarter. profit declined y-o-y.
Godrej Consumer Products
solidated revenue growth of 6% y-o-y, whereas the
119.74 Nifty 500
gross margins jumped 700 basis points due to a
fall in the prices of key inputs (palm oil and crude- 100 110.67
linked derivatives) in the September quarter. The 100
India business posted a modest 9% y-o-y growth. The
performance was impacted by muted volume growth
across segments (home care, personal care and hair
colour). Indonesia registered a strong revenue growth
of 16% y-o-y in rupee terms. The revenue from Africa
declined 5% y-o-y due to the devaluation of Naira. Nifty 500 Kotak
The management has hinted at an enhanced formu- 110.67 Mahindra Bank
lated household insecticide product that is expected 92.05
in the fourth quarter. The enhanced product will help
improve penetration and market share. Moreover, the
cost synergies from the integration of the recently
acquired businesses of Park Avenue and KamaSutra 11 Nov 2022 13 Nov 2023
are expected in the second half of 2023-24. Another report from Ambit Capital believes that the
A BoB Capital report says that the company’s em- company’s focus on sustainable double-digit growth,
phasis on category development, brand investment, supported by initiatives like media investments,
market penetration and business reorganisation is democratisation of pack sizes and distribution expan-
expected to support profitable growth in the future. sion, will bode well for the company in the future. 11 Nov 2022 13 Nov 2023
financial planning
WEALTH
WHINES
Should you share money
Money &
Relationships
information with kids?
It requires discretion on the part of parents and maturity in children to be
able to share and understand financial information, says Riju Mehta.
T
here is no dearth of advice for fact, it can have an adverse impact as these the nature of outcome in front of the chil-
parents on making their chil- can induce anxiety, guilt and frustration dren. This is important because any short-
dren financially savvy, wheth- since the child does not know how to pro- age of funds in the household or curtailing
er it is teaching them about cess or solve the issues. It can also shape of pocket money needs to be explained so
spending and investing, or the long-term reactions to financial crises that they do not panic and cooperate as a
age at which they should be introduced to that can continue into adulthood. If the family till the crisis is averted.
it. However, there is little to go on when it child senses any tension in the household This will not only give them a sense of
comes to discussing the family’s earnings, regarding money, both the parents need participation, but also relieve any feeling
budgeting, financial goals, or monetary to explain and comfort the child that they of helplessness to deal with the situation.
crises that the family can face from time will handle and resolve the issue without If they are old enough to do small jobs and
to time. Is it really wise and discreet to be him having to worry about it. earn, it will induce a sense of accomplish-
talking about serious financial matters When it comes to pre-teens and teenag- ment in them. Make sure you do not cre-
with children, or should such information ers, emergencies such as job loss or threat ate a sense of panic, argue or fight about
be kept among adults? While most parents to livelihood due to medical crisis or death money issues in kids’ presence, blame the
would be inclined to keep their kids out of family member, unmanageable debt spouse of kids, or lie about a difficult finan-
BCCL
of complex financial discussions, and or other financial liabilities, inability cial situation.
this would indeed be advisable in certain to provide adequately for kids’ needs When it comes to achievement of their
cases, they should not impose a blanket should be discussed. These topics should, goals, especially higher education and
ban on talking to children about money however, be broached in a calm manner, weddings, openly discuss your financial
matters. Depending on the kids’ ages and with the clear import that the problem is ability to meet these. For overseas educa-
maturity levels, certain issues need to be temporary and that the adults are trying tion, discuss all options for financing it,
discussed with them as a family. to resolve it. If the issues are likely to take be it an education loan or the need to work
When it comes to financial crises or a long time to deal with, explain the impli- part-time while studying. This is bound to
other money problems, children below cations and how the kids can help by slash- instill a sense of responsibility in the child
the ages of 8-9 years should be kept out as ing unnecessary expenses. It’s best to take as he transitions into adulthood.
they are unlikely to have the maturity the help of financial planners in case of As for the need to talk about your income
and ability to grasp or deal with these. In extreme crises, and to project optimism on and earnings, it is best not to disclose such
information till the child attains the age of
majority. You should, however, explain the
Disclaimer: The advice in this column is not from financial workings of a household, includ-
IF YOU HAVE A WEALTH WHINE, WRITE TO US... a licensed healthcare professional and should ing budgeting, spending and investing,
All of us have been in a financial dilemma when it comes to relationships. How do you say no to a friend not be construed as psychological counselling,
who wants you to invest in his new business venture? Should you take a loan from your married brother? therapy or medical advice. ET Wealth and the types of investing instruments and their
Are you concerned about your wife’s impulse buying? If you have any such concerns that are hard to writer will not be responsible for the outcome of objectives, the process of formulating and
resolve, write in to us at etwealth@timesgroup.com with ‘Wealth Whines’ as the subject. the suggestions made in the column. achievement of financial goals, including
their education, among others.
READERS’ QUERIES
Q
My parents died when I was six and was raised by my maternal grandparents. My
grandfather passed away recently without a will. Do I have a right to his property? — Deeksha
Assuming that the property was self-acquired, in the absence of a will, it will go to all class I legal heirs of your grandfather, including his wife and children. Since
your mother predeceased your grandfather, you will have the same rights to this property as your mother and her siblings, if any.
I am 76 years old and have one your son cannot stake a claim to the Penal Code, if a person marries for years ago. Do I have a right to my fa-
Q son. My wife expired two
years ago. I have a self-occu-
property in the presence of a valid, reg-
istered will, he can contest it in a court
the second time during the lifetime of
his first wife or husband without a le-
ther’s self-acquired property, or will it
go only to my brother?
pied property that I bought and built of law since he is a class I legal heir. gal divorce, his second marriage will — Vineeta
with my own money. I do not want to be considered void. This is also a pun- As per the Hindu Succession
leave this property to my son. Can I do I have been married for five ishable offence with fine and impris- (Amendment) Act, 2005, a daughter has
so through a written will? Can my son
contest the will after I pass away?
Q years and have one child.
However, a year ago, my hus-
onment of up to seven years. Since the
second marriage is considered null
the same right to her father’s property
as the son. Hence, the self-acquired
Please advise. band left us and got married again and void, your husband’s other part- property of your father will be shared
—K.S. Singh even though there was no legal sepa- ner will have no legal rights. However, equally among all class I legal heirs. In
Since your property is self-acquired, ration or divorce. My husband has two if there are any children from the sec- the absence of your mother and grand-
you can leave it to anyone you want residential properties. Does his second ond marriage, they will have the same mother, the property will be shared
through a will. It is, however, advisable wife have any legal right to these right to your husband’s properties as equally between you and your brother.
to specify the beneficiary clearly in the properties? Also, will his children from your son.
will and have it registered as well. It is the second marriage have any right to Disclaimer: The responses are based on limited facts
also important to mention the reason his properties? My father passed away in- provided by the queries. It is advisable to consult
for not leaving the property to your son

since he is a class I legal heir. Though
—Anonymous
According to Section 494 of the Indian
Q testate and I have one broth-
er. My mother died two
a legal practitioner after presenting full facts and
documents. Responses should not be considered as
legal advice in any manner whatsoever.
SMART STATS
The Economic Times Wealth
November 20-26, 2023
In This Section
MUTUAL FUNDS - P14
LOANS AND DEPOSITS - P16
ET WEALTH TOP 50 STOCKS

ALTERNATIVE INVESTMENTS- P17
Every week we put about 3,000 stocks through four key filters and rate them on a mix of factors. The end result
of this is the listing of the top 50 stocks based on the composite rating to help ease your fortune hunt.
RANK PRICE ` GROWTH%* VA LUAT I O N R AT I O S RISK R AT I N G

Current Previous Stock Net Div Downside Bear No. of Consensus
Rank Rank Price Revenue Profit PE PB Yield PEG Risk Beta Analysts Rating
1 Fast growing stocks

Bandhan Bank 1 1 222.20 22.86 85.03 16.31 1.83 0.68 0.19 1.31 0.57 28 4.25
LIC Housing Finance 2 2 462.25 23.26 62.37 8.87 0.95 1.82 0.16 1.13 1.31 33 4.03
Samvardhana Motherson 3 4 91.10 34.91 116.81 41.02 2.74 0.72 0.34 1.27 0.88 22 4.64 Top 5 stocks with the highest
revenue growth (%) over the
Kalpataru Projects Intnl. 4 3 653.60 35.60 83.34 22.64 2.26 1.06 0.30 1.31 1.13 15 4.60
previous year
Natco Pharma 5 5 773.35 44.50 83.61 19.80 2.90 1.19 0.25 1.17 0.39 15 3.53
Bajaj Finance 46
Axis Bank 6 6 1,026.35 9.78 92.23 24.43 2.25 0.10 0.24 0.81 0.80 50 4.80
PSP Projects 46
Manappuram Finance 7 7 160.50 30.82 43.32 8.51 1.32 2.03 0.21 1.78 1.80 20 4.40
Maruti Suzuki India 8 8 10,484.50 34.88 57.26 38.47 5.11 0.86 0.72 0.69 0.81 49 4.16 Natco Pharma 45
Zydus Lifesciences 9 10 631.85 17.49 69.74 32.10 3.59 0.97 0.48 0.84 0.26 37 3.68 Ujjivan Small
41
Finance Bank
Aurobindo Pharma 10 18 976.55 20.39 75.67 29.39 2.11 0.31 0.40 1.05 0.48 30 3.97
Nippon Life 40
Apollo Tyres 11 9 427.85 9.91 74.30 24.63 2.11 1.05 0.33 1.22 0.65 29 3.79 India Asset
Larsen & Toubro 12 12 3,051.15 26.49 46.46 41.13 4.82 0.98 0.86 0.81 0.46 36 4.64
Somany Ceramics
Balrampur Chini Mills
13
14
11
13
674.60
435.00
18.74
30.65
99.46
114.22
40.11
31.33
3.64
3.04
0.44
0.57
0.40
0.27
1.41
1.28
0.52
1.03
22
11
4.68
4.09
2 Least expensive stocks
Top 5 stocks with the lowest
Adani Ports & SEZ 15 15 813.60 31.31 71.79 32.98 3.84 0.62 0.42 2.13 2.51 20 4.80 price-earnings ratio
Blue Star 16 14 967.85 31.63 97.50 47.49 14.00 0.62 0.17 1.06 -0.10 23 3.96 Manappuram
8.51
Finance
Biocon 17 -- 231.90 22.04 124.13 54.94 1.45 0.65 0.47 1.21 0.68 20 3.85
LIC Housing 8.87
Bajaj Auto 18 16 5,550.90 27.11 27.65 26.06 5.33 2.53 0.90 0.83 0.23 47 3.74 Finance
IndusInd Bank 19 21 1,498.65 16.40 22.79 13.91 1.99 0.94 0.60 1.16 2.11 48 4.81 CESC 9.01
Ujjivan Small Finance Bank 20 19 57.50 41.25 22.62 9.88 2.86 2.13 0.57 1.55 1.83 15 4.80 Ujjivan Small 9.88
Finance Ban
Cipla India 21 25 1,234.80 19.69 50.15 35.76 4.28 0.68 0.70 0.85 0.38 40 4.03
Federal Bank 10.03
Endurance Technologies 22 17 1,594.00 27.05 69.33 46.79 5.09 0.44 0.67 1.04 -0.02 20 4.30
3 Best PEGs
UTI Asset Management Co 23 20 776.35 16.74 41.22 22.51 2.55 2.82 0.54 1.11 0.58 15 4.07
PSP Projects 24 24 789.60 46.09 55.57 21.59 3.56 0.32 0.39 1.18 1.94 12 4.58
Top 5 stocks with the least
Voltas 25 26 821.20 30.18 71.01 202.07 5.00 0.52 0.53 0.99 0.51 44 3.43 price earnings to growth ratio
UltraTech Cement 26 22 8,775.05 19.76 72.67 49.92 4.65 0.43 0.71 0.76 0.93 45 4.24 Blue Star Manappuram
Finance
Steel Authority of India 27 23 88.00 2.06 68.78 16.74 0.67 1.13 0.23 1.23 1.56 26 2.85
NTPC 28 27 252.35 6.03 25.06 14.49 1.67 3.84 0.62 0.84 0.99 23 4.78
0.16 0.17 0.19 0.21 0.23
Cyient 29 28 1,713.90 29.98 47.10 36.42 5.46 1.67 0.80 1.54 0.37 20 4.10
Mahindra & Mahindra 30 32 1,569.50 18.10 13.44 16.71 3.41 1.05 0.63 1.01 1.22 43 4.53
LIC Housing Bandhan Bank Steel Authority
M&M Financial 31 33 275.15 24.86 20.70 16.44 1.84 2.17 0.69 1.43 1.22 40 3.58
Finance of India
Alembic Pharmaceuticals 32 30 744.80 20.53 85.52 43.41 3.40 1.06 0.51 1.09 0.88 19 3.21
HeidelbergCement India
CESC
33
34
34
31
187.15
96.05
13.37
17.70
146.08
13.95
43.05
9.01
2.92
1.11
3.75
4.93
0.30
0.69
0.96
1.00
1.26
0.45
17
14
2.71
4.64
4 Income generators
Top 5 stocks with the highest
Federal Bank 35 35 150.20 22.25 27.08 10.03 1.44 0.67 1.10 1.14 1.69 39 4.67 dividend yield (%)
Kajaria Ceramics 36 37 1,288.15 19.62 58.63 59.13 8.76 1.17 1.01 0.99 0.23 35 4.34 CESC 4.93
NTPC 3.84
EPL 37 29 192.50 19.34 39.25 27.02 3.09 2.23 0.68 1.34 0.76 10 4.50
HeidelbergCement
Bajaj Finance 38 40 7,362.45 46.29 47.75 37.92 8.03 0.42 0.81 0.98 0.97 34 4.24 3.75
India
Exide Industries 39 44 272.15 9.29 52.12 28.20 2.08 0.73 0.54 0.93 1.23 23 4.00 Nippon Life India
3.21
Asset
Orient Cement 40 43 218.50 19.91 88.43 36.62 2.80 0.66 0.41 1.47 1.31 13 3.62 ICICI Securities 3.15
5 Least risky
Nippon Life India Asset 41 36 417.20 39.69 34.13 35.68 7.34 3.21 1.07 1.04 0.83 18 4.33
Torrent Pharmaceuticals 42 45 2,039.55 21.46 52.55 55.85 11.22 1.07 1.06 0.84 0.19 34 4.24
Top 5 stocks with the lowest
Ipca Laboratories 43 -- 1,071.85 31.86 87.36 56.91 4.59 0.38 0.66 1.07 0.11 21 3.05
downside risk
Eicher Motors 44 41 3,836.75 22.94 38.48 36.04 7.01 0.96 0.92 1.00 0.76 44 3.82 UltraTech
Cement Larsen & Toubro
Finolex Industries 45 39 202.30 11.74 132.61 50.58 2.58 0.78 0.40 1.51 1.34 18 3.83
Ajanta Pharma 46 42 1,930.10 20.24 49.85 42.48 7.29 1.28 0.83 1.03 0.41 16 4.50
0.69 0.76 0.81 0.81 0.83
Ramco Cements 47 -- 1,003.15 24.46 133.79 72.30 3.43 0.20 0.56 0.86 1.16 36 3.14
JK Cement 48 47 3,480.95 23.27 107.74 62.64 5.70 0.43 0.60 1.04 1.57 27 3.85
Maruti Suzuki Axis Bank Bajaj Auto
ICICI Securities 49 46 693.30 34.24 34.31 19.49 7.64 3.15 0.53 0.94 1.14 10 3.90 India
Shree Cement 50 48 26,174.40 23.39 88.19 74.21 5.06 0.42 0.79 1.06 0.59 43 2.67 SEE DOWNSIDE RISK AND BEAR BETA COLUMNS
IN THE ADJACENT TABLE.
*REVENUE AND NET PROFIT GROWTH IS BASED ON CONSENSUS ANALYSTS' EXPECTATIONS. NR: NOT IN THE RANKING. DATA AS ON 16 NOVEMBER 2023. SOURCE: BLOOMBERG
smart stats
LAGGARDS & LEADERS

ETW FUNDS 100
BEST FUNDS TO BUILD YOUR PORTFOLIO
Taking a long-term view of fund returns, here is a list of 10
funds in each category—five leaders (worth investing) and
five laggards (that may be a drag on your portfolio).
LAGGARDS LEADERS
Equity: Large cap 5-year returns

ET Wealth collaborates with Value Research to identify the top-performing
10.89 17.14
funds across categories. Equity funds and equity-oriented hybrid funds are Groww Large Cap Fund BHARAT 22 ETF
ranked on 3-year returns while debt-oriented hybrid and income funds are 10.96 17.10
LIC MF Nifty Next 50 Index Fund ICICI Prudential BHARAT 22 FOF
ranked on 1-year returns.
11.07 16.80
Taurus Largecap Equity Fund Quant Focused Fund
RETURNS (%)
Value Research Net Assets Expense 11.08 15.23
Fund Rating (` Cr) 3-Month 6-Month 1-Year 3-Year 5-Year Ratio (%)
ICICI Prudential Nifty Next Canara Robeco Bluechip Equity Fund
EQUITY: LARGE CAP

11.28 15.06
Quant Focused Fund  417.18 5.12 17.64 13.86 24.38 16.8 2.38 24.38% UTI Nifty Next 50 Index Fund DSP Nifty 50 Equal Weight Index
DSP Nifty 50 Equal Weight Index Fund - Regular Plan  752.26 5.07 13.68 14.45 23.22 15.06 0.92 THE 3-YEAR
ICICI Prudential Bluechip Fund  41,269.16 4.4 13.54 14.55 20.36 15.06 1.58 RETURN OF
Kotak Bluechip Fund - Regular Plan  6,405.55 2.43 9.33 10.45 16.84 14.89 1.79 QUANT Equity: Flexi cap 5-year returns
UTI Nifty 50 Index Fund - Regular Plan  12,597.69 1.34 7.73 7.67 16.61 14.08 0.41 FOCUSED
FUND IS
HDFC Index Fund Nifty 50 Plan  9,809.26 1.33 7.68 7.58 16.45 13.85 0.4
THE 10.82 23.62
DSP Nifty 50 Index Fund - Regular Plan  404.81 1.34 7.69 7.56 16.41 — 0.4 HIGHEST Axis Focused 25 Fund Quant Flexi Cap Fund
 IN ITS
Bandhan Nifty 50 Index Fund - Regular Plan 931.71 1.28 7.58 7.33 16.21 13.93 0.6
CATEGORY.
10.89 21.69
HDFC Index Fund - S&P BSE Sensex Plan  5,493.12 0.52 6.28 7.07 15.61 13.97 0.4
Motilal Oswal Flexi Cap Parag Parikh Flexi Cap Fund
ICICI Prudential S&P BSE Sensex Index Fund  1,120.07 0.52 6.3 7.06 15.55 14.05 0.35
Canara Robeco Bluechip Equity Fund - Regular Plan  10,182.11 2.34 8.35 9.62 15.36 15.23 1.71 10.92 21.22
Taurus Flexi Cap Fund 360 ONE Focused Equity Fund
EQUITY: LARGE & MIDCAP
HDFC Large and Mid Cap Fund - Regular Plan  11,883.08 6.42 20.33 23.34 29.03 18.4 1.78
11.16 19.51
ICICI Prudential Large & Mid Cap Fund  8,847.08 5.04 15.27 17.41 27.93 17.49 1.8 Nippon India Retirement JM Flexicap Fund
SBI Large & Midcap Fund  15,648.67 2.88 12 13.52 24.55 17.05 1.71 11.43 18.87
Kotak Equity Opportunities Fund - Regular Plan  15,260.53 5.35 14.96 17.88 22.2 17.71 1.66 Shriram Flexi Cap Fund HDFC Retirement Savings Fund Equity
Tata Large & Mid Cap Fund - Regular Plan  5,248.36 1.81 10.89 13.23 20.85 16.8 1.87
Mirae Asset Emerging Bluechip Fund - Regular Plan  28,103.78 4.39 15.58 15.9 20.74 18.27 1.59
EQUITY: FLEXI CAP Equity: Mid cap 3-year returns

HDFC Flexi Cap Fund  39,395.62 4.12 14.37 17.19 28.58 16.88 1.59
28.58% 18.65 36.47
HDFC Retirement Savings Fund Equity Plan  3,739.41 3.42 14.37 22.39 27.5 18.87 1.87
THE 3-YEAR DSP Midcap Fund Quant Mid Cap Fund
JM Flexicap Fund  717.77 8.06 24.12 26.81 27.29 19.51 2.34 RETURN OF
ICICI Prudential Retirement Fund - Pure Equity Plan  367.25 5.7 17.97 19.89 26.61 — 2.4 HDFC FLEXI 20.68 35.35
Franklin India Flexi Cap Fund  11,940.27 6.17 17.65 17.22 24.6 16.5 1.79 CAP FUND Axis Midcap Fund Motilal Oswal Midcap Fund
IS THE
Franklin India Focused Equity Fund  9,236.66 3.64 13.35 12.82 24.31 16.64 1.81
HIGHEST 22.03 32.60
ICICI Prudential Focused Equity Fund  5,588.85 3.12 14.13 15.45 23.85 16.04 1.85 IN ITS LIC MF Midcap Fund HDFC Mid-Cap Opportunities Fund
Parag Parikh Flexi Cap Fund - Regular Plan  44,037.86 7.86 15.73 24.87 22.72 21.69 1.4 CATEGORY.
360 ONE Focused Equity Fund - Regular Plan  4,886.84 6.28 14.46 17.07 21.06 21.22 1.87
23.00 32.17
Franklin India Prima Nippon India Growth Fund
Union Flexi Cap Fund  1,621.04 5.68 16.41 16.38 20.64 17.12 2.09
PGIM India Flexi Cap Fund - Regular Plan  5,633.11 2.07 8.2 8.87 18.63 17.75 1.79 23.11 31.92
HSBC Midcap Fund SBI Magnum Midcap Fund
EQUITY: MID CAP
Quant Mid Cap Fund  3,267.99 9.65 26.6 25.33 36.47 24.58 1.92 36.47%
Motilal Oswal Midcap Fund - Regular Plan  6,059.92 10.17 24.02 27.65 35.35 22.82 1.81 THE
HDFC Mid-Cap Opportunities Fund  47,846.43 9.35 27.79 34.14 32.60 21.40 1.52 3-YEAR Equity: Small cap 3-year returns
Nippon India Growth Fund  19,081.97 10.61 27.4 32.77 32.17 22.53 1.69 RETURN OF
QUANT MID 26.33 44.31
SBI Magnum Midcap Fund  13,202.34 7.57 16.94 22.75 31.92 21.13 1.73 CAP FUND
Edelweiss Mid Cap Fund - Regular Plan  3,792.81 10.19 22.22 24.2 29.55 21.33 1.86 IS THE ITI Small Cap Fund Quant Small Cap Fund
Kotak Emerging Equity Fund - Regular Plan  33,699.92 6.9 19.94 21.84 28.74 21.09 1.52 HIGHEST 28.53 42.56
IN ITS
Mirae Asset Midcap Fund - Regular Plan  11,783.59 5.94 22.78 21.33 28.44 — 1.72 Aditya Birla Sun Life Small Cap Nippon India Small Cap Fund
CATEGORY.
PGIM India Midcap Opportunities Fund - Regular Plan  9,101.52 4.83 12.94 11.16 27.44 22.98 1.72 29.60 40.44
EQUITY: SMALL CAP SBI Small Cap Fund HSBC Small Cap Fund
Nippon India Small Cap Fund  37,319.33 9.41 28.11 37.37 42.56 26.04 1.55 31.47 38.80
Tata Small Cap Fund - Regular Plan  6,146.73 7.64 20.68 29.04 37.47 24.54 1.76
Bandhan Emerging Businesses HDFC Small Cap Fund
Kotak Small Cap Fund - Regular Plan  12,162.88 5.1 19.4 22.29 32.84 24.38 1.68
Axis Small Cap Fund - Regular Plan  16,369.16 9.57 22.19 27.04 31.8 25.57 1.64
31.80 37.76
Axis Small Cap Fund Franklin India Smaller Companies
EQUITY: VALUE ORIENTED
SBI Contra Fund  16,667.16 6.62 18.8 24.96 35.09 22.40 1.68 35.09%
Bandhan Sterling Value Fund - Regular Plan  6,672.01 3.52 15.24 20.74 32.37 17.58 1.8 THE 3-YEAR Hybrid: Aggressive 5-year returns
ICICI Prudential Value Discovery Fund  32,493.63 4.76 15.63 19.94 28.25 18.67 1.64 RETURN OF
SBI CONTRA 20.39
EQUITY: ELSS FUND IS
9.07
Quant Tax Plan  4,956.53 7.9 19.8 13.04 33.46 25.74 1.85 THE HIGH- Nippon India Equity Hybrid Quant Absolute Fund
Bandhan ELSS Tax Saver Fund - Regular Plan  5,039.66 3.11 14.19 16.82 27.09 17.52 1.79 EST IN ITS 9.31 18.58
Bank of India Tax Advantage Fund - Regular Plan  860.31 8.46 18.73 21.05 23.05 20.85 2.26 CATEGORY.
LIC MF Aggressive Hybrid Bank of India Mid & Small Cap Equity
Parag Parikh Tax Saver Fund - Regular Plan  2,137.73 7.39 13.68 15.75 22.55 — 1.87
DSP Tax Saver Fund  11,693.11 4.75 14.75 15.73 21.96 17.29 1.69
9.93 17.62
PGIM India ELSS Tax Saver Fund - Regular Plan  556.68 1.66 8.84 10.81 21.37 15.78 2.33 Bandhan Asset Allocation ICICI Prudential Equity & Debt Fund
JM ELSS Tax Saver Fund  91.18 5.72 17.85 20.11 21.35 17.61 2.4 10.19 15.52
Union Tax Saver (ELSS) Fund  695.17 5.53 15.75 15.61 21.26 17.45 2.35 Shriram Aggressive Hybrid Kotak Equity Hybrid Fund
Kotak ELSS Tax Saver - Regular Plan  4,122.24 4.01 12.2 13.7 21.1 16.7 1.8
10.26 15.41
Mirae Asset Tax Saver Fund - Regular Plan  17,531.53 2.84 12.34 13.33 19.3 17.1 1.61
PGIM India Hybrid Equity HDFC Children’s Gift Fund
Canara Robeco ELSS Tax Saver Fund - Regular Plan  6,041.96 4.01 10.55 11.05 19.12 17.16 1.74
ANNUALISED RETURNS IN % AS ON 15 NOV 2023.

smart stats
ETW FUNDS 100 Value Research Net Assets

RETURNS (%)
Expense
1 Top 5 SIPs
Fund Rating (` Cr) 3-Month 6-Month 1-Year 3-Year 5-Year Ratio
HYBRID: EQUITY SAVINGS

HDFC Equity Savings Fund  3,166.65 2.7 6.87 9.44 12.78 9.35 2 Top 5 equity schemes based
UTI Equity Savings Fund - Regular Plan  296.53 2.43 7.37 11.01 11.92 9.3 1.5 on 10-year SIP returns
SBI Equity Savings Fund - Regular Plan  3,072.61 3.78 10.37 14.14 11.51 10.23 1.14
Nippon India Small Cap Fund
Kotak Equity Savings Fund - Regular Plan  3,292.26 2.93 7.19 11.17 10.54 9.59 1.94
ICICI Prudential Equity Savings Fund  7,324.66 1.25 5.98 9.12 9.68 8.14 0.99 24.47
HYBRID: AGGRESSIVE (EQUITY-ORIENTED) Quant Small Cap Fund

ICICI Prudential Equity & Debt Fund  26,182.92 5.53 14.8 17.99 28.38 17.62 1.68 23.55
Bank of India Mid & Small Cap Equity & Debt Fund  492.50 10.79 25.35 28.21 26.47 18.58 2.52 28.38% Quant Tax Plan
Quant Absolute Fund  1,354.35 1.85 8.95 3.87 24.82 20.39 2.1 THE 3-YEAR 22.86
JM Aggressive Hybrid Fund  93.18 8.85 24.41 26.36 21.84 15.04 2.4 RETURN OF
ICICI PRU SBI Small Cap Fund
HDFC Children's Gift Fund  7,330.72 2.59 10.78 17.32 19.56 15.41 1.79
EQUITY & DEBT
Edelweiss Aggressive Hybrid Fund - Regular Plan  939.87 5.28 13.43 16.56 19.48 14.79 2.17 FUND IS THE 21.88
Mahindra Manulife Aggressive Hybrid Fund  823.53 3.57 12.29 13.22 19.23 — 2.23 HIGHEST IN ITS Quant Flexi Cap Fund
HDFC Retirement Savings Fund - Hybrid Equity Plan  1,139.69 2.73 11.52 17.88 18.88 14.4 2.16 CATEGORY.
20.82
Kotak Equity Hybrid Fund - Regular Plan  4,251.92 3.26 10.04 11.70 18.11 15.52 1.84
HDFC Hybrid Equity Fund  20,539.47 1.57 6.43 10.62 17.73 13.42 1.71 SIP: SYSTEMATIC % ANNUALISED RETURNS
Baroda BNP Paribas Aggressive Hybrid Fund  835.34 3.26 10.98 12.21 15.77 14.59 2.23 INVESTMENT PLAN AS ON 15 NOV 2023
Canara Robeco Equity Hybrid Fund - Regular Plan  8,822.84 3.37 8.94 10.32 14.07 13.54 1.75
2 Top 5 MIPs
HYBRID: CONSERVATIVE (DEBT-ORIENTED)
SBI Magnum Children's Benefit Fund - Savings Plan  100.75 4.32 8.91 14.11 13.86 10.1 1.2 14.11%
HDFC Hybrid Debt Fund  2,875.87 2.44 6.19 10.83 11.3 9.59 1.8
THE 1-YEAR Top 5 MIP schemes based on
SBI Conservative Hybrid Fund  8,916.25 2.04 5.89 10.26 10.82 10.32 1.12 RETURN OF 3-year SWP returns
Kotak Debt Hybrid Fund - Regular Plan  1,999.01 2.66 5.81 9.38 10.51 10.69 1.76 SBI MAGNUM
ICICI Prudential Regular Savings Fund  3,280.53 2.19 5.89 8.62 8.62 9.22 1.72 CHILDREN’S Bank of India Conservative Hybrid Fund
Canara Robeco Conservative Hybrid Fund - Regular Plan  1,016.65 2.07 4.33 6.84 7.4 9.08 1.81 BENEFIT IS
THE HIGH- 12.93
DEBT: MEDIUM TO LONG TERM EST IN ITS
CATEGORY. SBI Magnum Children’s Benefit Fund
SBI Magnum Income Fund  1,672.02 1.39 2.3 6.93 4.49 7.56 1.47

12.28
UTI Medium to Long Duration Fund - Regular Plan 306.30 0.87 1.36 5.97 8.39 4.1 1.62
HDFC Hybrid Debt Fund
DEBT: MEDIUM TERM
10.31
SBI Magnum Medium Duration Fund  6,969.90 1.54 2.8 7.06 4.84 7.67 1.22
ICICI Prudential Medium Term Bond Fund  6,452.21 1.64 2.93 6.87 5.52 7.28 1.4 SBI Conservative Hybrid Fund
Axis Strategic Bond Fund  1,924.43 1.54 2.71 6.86 5.46 6.86 1.09 10.06
Aditya Birla Sun Life Medium Term Plan  1,891.69 1.41 2.67 6.80 13.56 8.24 1.58
ICICI Prudential Income Optimizer Fund (FOF)
DEBT: SHORT TERM
10.04
ICICI Prudential Short Term Fund  18,709.25 1.79 3.42 7.18 5.31 7.31 1.07 7.18% SWP: SYSTEMATIC % ANNUALISED RETURNS
HDFC Short Term Debt Fund  12,301.64 1.57 3.1 6.97 4.83 7.09 0.74 THE 1-YEAR WITHDRAWAL PLAN AS ON 15 NOV 2023
UTI Short Duration Fund - Regular Plan  2,365.26 1.62 2.98 6.80 6.28 5.07 0.95 RETURN OF
Sundaram Short Duration Fund  194.36 1.43 2.74 6.67 6.69 5.31 0.84 ICICI PRU
SHORT TERM
Mid & Small Cap: exposure

3
Aditya Birla Sun Life Short Term Fund - Regular Plan 6,017.53 1.51 2.9 6.59 4.93 6.98 1.04
FUND IS
Axis Short Term Fund  7,799.29 1.5 2.73 6.52 4.57 6.83 0.99 THE HIGH-
DEBT: DYNAMIC BOND

EST IN ITS
CATEGORY.
of Multi Cap funds
ICICI Prudential All Seasons Bond Fund  11,427.22 1.81 3.26 7.30 5.42 7.83 1.31
SBI Dynamic Bond Fund  2,932.90 1.44 2.23 6.98 4.27 7.44 1.44 62.69
Quantum Dynamic Bond Fund - Regular Plan  92.07 1.32 2.82 6.71 4.81 7.1 0.96
59.53 57.52 57.41 57.20
Aditya Birla Sun Life Dynamic Bond Fund  1,700.99 1.31 2.45 6.50 5.93 5.55 1.23
360 ONE Dynamic Bond Fund - Regular Plan  739.80 1.25 2.14 6.39 5.25 6.38 0.52
DEBT: CORPORATE BOND

ICICI Prudential Corporate Bond Fund  24,508.37 1.74 3.58 7.43 5.35 7.35 0.53
Expense as on 31 Oct 2023
Aditya Birla Sun Life Corporate Bond Fund  17,861.53 1.59 3.29 7.10 5.11 7.46 0.5
Returns as on 15 Nov 2023
Nippon India Corporate Bond Fund  2,380.56 1.52 2.96 7.07 5.34 6.76 0.67
Assets as on 31 Oct 2023
Kotak Corporate Bond Fund - Standard Plan  10,655.64 1.58 3.02 6.63 4.74 6.78 0.67 Bank SBI Multi- Axis LIC MF Mahindra
Rating as on 31 Oct 2023
Axis Corporate Debt Fund - Regular Plan  4,951.88 1.47 2.86 6.59 4.67 6.46 0.94
of India cap Fund Multicap Multi Cap Manulife
Multi Cap Fund Fund Multi Cap
All equity funds ranked on 3-year returns. Debt funds ranked on 1-year returns. Fund Fund
Did not find your fund here? % OF ASSETS AS ON 31 OCT 2023
Log on to www.wealth.economictimes.com for an exhaustive list.
Methodology
The Top 100 includes only those funds that have a 5- or
4-star rating from Value Research. The rating is determined
EQUITIES (figures over the past one year)
Large-cap: Mostly invested in large-cap companies.
FUND
4 Debt: Medium duration
Multi-cap: Mostly invested in large- and mid-cap
RAISER
by subtracting a fund’s risk score from its return score.
companies. 1.09 1.10
The result is assigned stars according to the following
0.97
distribution: Mid-cap: Mostly invested in mid-cap companies. 0.90
 Top 10% Small-cap: Mostly invested in small-cap companies. 0.75
85%
 Next 22.5% Tax planning: Offer tax rebate under Section 80C.
(Not covered
 Middle 35% in ETW Funds International: More than 65% of assets invested abroad.
 Next 22.5% 100 listing) Income: Average maturity varies according to objective.
 Bottom 10% Gilt: Medium- and long-term; invest in gilt securities.
Fixed-income funds less than 18 months old and equity funds Equity-oriented: Average equity exposure more of all 359 debt funds
less than three years old have been excluded. This ensures than 60%. DSP Union Baroda Axis HSBC
have underperformed Bond Medium BNP Strategic Medium
that all the funds have existed long enough to be tracked for Debt-oriented aggressive: Average equity exposure
consistency of performance. Given the focus on long-term their benchmarks Fund Duration Paribas Bond Duration
between 25-60%. Fund Medium Fund Fund
investing, liquid funds, short-term funds and FMPs are not in the past one year.
part of the list. For the same reason, we have considered only Debt-oriented conservative: Average equity exposure Duration
less than 25%. Fund
the growth option of funds that reinvest returns instead of
offering dividends that increase the NAV of funds. Arbitrage: Seek arbitrage opportunities between equity Data based on 15 November 2023 NAVs. % AS ON 31 OCT 2023
Despite these rigorous filters, the list includes 2/3 funds of and derivatives. SOURCE: ACE MF % EXPENSE RATIO IS CHARGED ANNUALLY.
each category to maximise choice from the best funds. Asset allocation: Invest fully in equity or debt as per METHODOLOGY OF TOP 100 FUNDS ON
WWW.WEALTH.ECONOMICTIMES.COM
The fund categories are: market conditions.
loans and deposits

LOANS & DEPOSITS

ET WEALTH collaborates with ETIG to provide a comprehensive ready reckoner of loans and fixed-income
instruments. Don’t miss the information on investments for senior citizens and a simplified EMI calculator.
Top five bank FDs

Interest rate (%) What `10,000
HOME LOAN RATES
TENURE: 1 YEAR compounded qtrly will grow to With effect from October 2019, all banks have made the transition to
IndusInd Bank 7.50 10,771 external benchmarks for pricing new home loans. Most banks have
Bandhan Bank 7.25 10,745
picked the RBI repo rate as the external benchmark.
YES Bank 7.25 10,745
DCB Bank 7.15 10,734 REPO RATE: 6.50%
Kotak Mahindra Bank 7.10 10,729 FOR SALARIED FOR SELF-EMPLOYED (%)
BANK
TENURE: 2 YEARS RLLR (%) FROM (%) TO (%) FROM (%) TO (%) WEF
IDFC First Bank 7.75 11,659 Bank of Baroda 9.15 8.40 10.60 8.40 10.60 14 Feb 2023
DCB Bank 7.55 11,614 HDFC Bank -- 8.50 9.40 8.50 9.40 Not Given
IndusInd Bank 7.50 11,602
Indian Bank 9.20 8.50 9.90 8.50 9.90 14 June 2023
RBL Bank 7.50 11,602
Punjab National Bank 9.25 8.50 10.10 8.50 10.10 09 Feb 2023
Bandhan Bank 7.25 11,545
IndusInd Bank -- 8.50 10.55 8.50 10.55 Not Given
TENURE: 3 YEARS
Bank of India 9.25 8.50 10.60 8.50 10.75 01 Aug 2023
DCB Bank 7.60 12,534
YES Bank 7.25 12,405
IDBI Bank 9.10 8.55 10.75 8.65 12.25 12 Feb 2023
Bank of Baroda 7.25 12,405 Union Bank of India 9.30 8.55 10.80 8.55 10.80 11 Aug 2023
IDFC First Bank 7.25 12,405 Bank of Maharashtra 9.30 8.60 10.30 8.80 10.80 08 June 2023
IndusInd Bank 7.25 12,405 SBI Term Loan 8.75+CRP 8.70 9.65 8.70 9.65 01 July 2023
TENURE: 5 YEARS Kotak Mahindra Bank -- 8.75 9.35 8.80 9.60 Not Given
DCB Bank 7.40 14,428 Karnataka Bank -- 8.75 10.43 8.75 10.43 01 Aug 2023
IndusInd Bank 7.25 14,323 Federal Bank -- 8.80 10.25 10.20 10.30 Not Given
YES Bank 7.25 14,323
Indian Overseas Bank 9.35 8.85 9.55 8.85 9.55 08 Feb 2023
RBL Bank 7.10 14,217
UCO Bank 9.30 8.85 10.40 8.85 10.40 15 Mar 2023
Axis Bank 7.00 14,148
Canara Bank 9.25 8.85 11.20 8.90 11.25 12 July 2023
Punjab & Sind Bank 8.54 8.95 9.95 8.95 9.95 09 Feb 2023
Top five senior citizen bank FDs J & K Bank 9.10 9.10 9.50 9.10 9.50 10 May 2023
Interest rate (%) What `10,000 Bandhan Bank -- 9.15 13.32 9.15 13.32 Not Given
TENURE: 1 YEAR compounded qtrly will grow to
IndusInd Bank 8.25 10,851 Karur Vysya Bank 9.60 9.23 12.13 9.23 12.13 10 Feb 2023
Bandhan Bank 7.75 10,798 ICICI Bank -- 9.25 9.90 9.40 10.05 Not Given
YES Bank 7.75 10,798 Dhanlaxmi Bank 8.50 9.35 10.00 9.85 10.50 25 Feb 2023
DCB Bank 7.65 10,787 DCB Bank 9.75 9.75 9.95 9.75 9.95 13 Feb 2023
Kotak Mahindra Bank 7.60 10,782
TENURE: 2 YEARS
IDFC First Bank 8.25 11,774
Your EMI for a loan of `1 lakh
IndusInd Bank 8.25 11,774 TENURE 5 YEARS 10 YEARS 15 YEARS 20 YEARS 25 YEARS
DCB Bank 8.05 11,728
@ 7% 1,980 1,161 899 775 707
RBL Bank 8.00 11,717
Bandhan Bank 7.75 11,659 @ 8% 2,028 1,213 956 836 772
TENURE: 3 YEARS
DCB Bank 8.10 12,720
@ 9% 2,076 1,267 1,014 900 839
@ 10% 2,125 1,322 1,075 965 909
YES Bank 8.00 12,682
IDFC First Bank 7.75 12,589 FIGURES ARE IN `. USE THIS CALCULATOR TO CHECK YOUR LOAN AFFORDABILITY.
FOR EXAMPLE, A `5 LAKH LOAN AT 10% FOR 15 YEARS WILL TRANSLATE INTO AN EMI OF `1,075 X 5 = `5,375
Bank of Baroda 7.75 12,589
TENURE: 5 YEARS
Post office deposits Interest (%)
Minimum
investment (`)
Maximum
investment (`)
Features
Tax
benefits
YES Bank 8.00 14,859 Sukanya Samriddhi Yojana 8.00 250 `1.5 lakh p.a. One account per girl child 80C
DCB Bank 7.90 14,787
Axis Bank 7.75 14,678 Senior Citizens' Savings Scheme 8.20 1,000 `30 lakh 5-year tenure, minimum age 60 yrs 80C
RBL Bank 7.60 14,571
Public Provident Fund 7.10 500 `1.5 lakh p.a. 15-year tenure, tax-free returns 80C
Kisan Vikas Patra 7.50 1,000 No limit Can be encashed after 2.5 years Nil
Top five tax-saving bank FDs 5-year NSC VIII Issue 7.70 1,000 No limit No TDS 80C
Interest What `10,000
TENURE: 5 YEARS AND ABOVE rate (%) will grow to
Time deposit 6.9-7.50 1,000 No limit Available in 1, 2, 3, 5 year tenures 80C#
DCB Bank 7.40 14,428
IndusInd Bank 7.25 14,323 Post Office Monthly Income
Single `9 lakh 5-year tenure, monthly returns Nil
YES Bank 7.25 14,323 7.40 1,000
Scheme
Joint `15 lakh 5-year tenure, monthly returns Nil
RBL Bank 7.10 14,217
HDFC Bank 7.00 14,148 Recurring deposits 6.70 100 No limit 5-year tenure Nil
Savings account 4.00 500 No limit `10,000 interest tax-free Nil

ALL DATA SOURCED FROM ECONOMIC TIMES INTELLIGENCE GROUP
(ETIGDB@TIMESGROUP.COM) Data as on 15 November 2023 #Benefit available only for 5-year deposit
market watch
ALTERNATIVE INVESTMENT
RETURNS MONITOR
The scope and attractiveness of alternative investments is increasing. Here’s a weekly tracker of returns from such investments. But don’t
compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different.
Gold (995) (`) Silver (`) Platinum ($/troy ounce) WTI Crude ($/barrel)
52,881 60,263 62,594 72,855 1,009.24 903.45 85.59 76.66
16 NOV 2022 16 NOV 2023 16 NOV 2022 16 NOV 2023 16 NOV 2022 16 NOV 2023 16 NOV 2022 15 NOV 2023
PRICE OF 10 GM GOLD PRICE OF 1 KG SILVER
CHANGE
X 1 WEEK 0.68% 1 WEEK 3.63% 1 WEEK 4.74% 1 WEEK 1.21%
X 1 YEAR 13.96% 1 YEAR 16.39% 1 YEAR -10.48% 1 YEAR -10.43%
PENNY STOCKS UPDATE

Penny stocks as a recommended non-traditional investment? Not exactly. ET WEALTH
neither has the expertise nor does it recommend investing in such stocks. But since the
relatively ‘low’ cost of investment attracts some investors to penny stocks, we provide
a weekly snapshot of this most volatile and uncertain type of stock investing.
Top price gainers Top volume gainers

MARKET 1-WEEK (%) 1-MTH (%) 1-MONTH AVG 1-MONTH AVG MKT CAP MARKET 1-WEEK (%) 1-MTH (%) 1-MTH AVG 1-MONTH AVG MKT CAP
STOCK PRICE (`) CHANGE CHANGE VOL (LAKH) VOL CHG (%) (`CR) STOCK PRICE (`) CHANGE CHANGE VOL (LAKH) VOL CHG (%) (`CR)
PMC Fincorp 2.88 56.52 68.42 17.58 152.95 153.82 Meyer Apparel 2.12 0 -0.93 0.01 1,47,650 17.07
Transgene Biotek 6.84 27.14 67.65 0.70 44.22 51.83 Vivanza Biosciences 8.77 -22.46 -22.04 0.54 2,299.25 35.08
Burnpur Cement 8.45 32.45 67.33 4.86 240.83 72.77 Vikas WSP 1.51 21.77 2.72 3.25 1,687.68 30.86
Unitech 4.13 26.69 54.10 29.81 -39.03 1080.53 Jackson Investments 0.50 -9.09 4.17 6.15 1,335.74 14.54
Vintron Informatics 8.67 10.17 48.97 0.69 -30.11 67.97 KBC Global 2.29 2.69 -12.60 47.07 927.82 140.84
E-Land Apparel 9.16 0.55 47.98 0.95 554.23 43.96 Eastern Silk Industries 2.35 10.33 21.13 0.17 829.82 18.55
Millennium Online 2.50 23.76 47.93 0.12 306.76 12.50 Winsome Yarns 4.21 -9.07 -33.28 0.35 668.73 29.77
Sumeet Industries 4.40 26.80 46.18 1.11 -61.95 45.60 National Plywood 4.95 -12.70 -12.70 0.01 662.36 12.20
BC Power Controls 6.18 29.29 45.41 4.78 84.50 36.34 Paras Petrofils 1.94 -8.92 1.04 1.23 618.65 64.83
Madhucon Projects 7.30 21.67 41.75 0.34 299.26 53.87 E-Land Apparel 9.16 0.55 47.98 0.95 554.23 43.96
Top price losers Top volume losers

IFL Enterprises 6.41 -5.74 -43.42 62.41 133.30 145.76 RGF Capital Markets 1.18 0 0 12.21 -100 17.7
Galactico Corporate 3.99 16.67 -25 20.13 153.31 59.45 7NR Retail 0.56 16.67 7.69 5.18 -82.23 15.69
GCM Securities 1.17 -7.87 -21.48 11.51 178.95 22.23 Sulabha Enggineers 6.08 -0.65 -3.65 1.29 -81.38 61.10
Darshan Orna 3.16 7.48 -18.56 2.38 227.87 15.82 Saianand Commercial 0.47 2.17 0 4.20 -81.33 10.68
Karnavati Finance 2.07 -5.48 -17.86 1.03 -60.21 20.80 ISF 2.03 1 -10.96 1.12 -80.51 19.29
Reliance Home Finance 1.99 -1.97 -17.77 5.47 -47.54 96.53 JCT 2.69 0 -7.88 12.07 -76.89 233.58
RO Jewels 3.39 7.28 -16.09 3.75 -38.49 17.10 Visagar Financial 0.78 -1.27 2.63 40.27 -70.46 46.40
Comfort Fincap 8.62 -3.04 -15.98 1.81 -57.17 46.76 Veeram Securities 8.92 -3.57 -12.20 4.93 -64.04 67.48
Toyam Sports 5.32 -9.22 -15.56 12.81 -50.68 226.63 Sundaram Multi Paper 2.75 1.10 -14.86 1.52 -63.86 130.32
Gala Global Products 4.81 -9.25 -15.32 4.15 198 26.25 Sumeet Industries 4.40 26.8 46.18 1.11 -61.95 45.60
STOCKS HAVE BEEN SELECTED USING THE FOLLOWING FILTERS: PRICE LESS THAN `10, ONE-MONTH AVERAGE VOLUME GREATER THAN OR EQUAL TO 1 LAKH, AND MARKET
CAPITALISATION GREATER THAN OR EQUAL TO `10 CRORE. DATA AS ON 16 NOV 2023. SOURCE: ETIG DATABASE AND BLOOMBERG.
mutual funds
INVESCO INDIA SMALL CAP
Maintains healthy track record

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals
of the fund, its portfolio and performance to help you make an informed investment decision.
HOW THE FUND HAS PERFORMED Top 5 sectors in portfolio (%)
Point-to-point returns (%)

BASIC Financials 23.67
FUND BENCHMARK CATEGORY AVERAGE FACTS Capital goods 12.16
Services 8.37
35.24 36.28 35.08 34.83 DATE OF LAUNCH
33.49
31.34 30 OCTOBER 2018 Materials 8.15
23.70 22.68 CATEGORY
20.02
EQUITY Healthcare 8.05
TYPE
SMALL CAP The fund has taken big positions in
financials and capital goods sectors.
AUM*
1-YEAR 3-YEAR 5-YEAR `2,869 crore
AS ON 13 NOVEMBER 2023 Top 5 stocks in portfolio (%)
The fund has outperformed the index and its BENCHMARK
peers amid the recent uptick in small caps. S&P BSE 250 SMALLCAP CreditAccess
Grameen 3.57
TOTAL RETURN INDEX
Equitas Small
Finance Bank 3.12
Rolling returns (%) WHAT IT Global Health 2.70
COSTS
FUND BENCHMARK
Mrs. Bectors Food
26.97 Specialities 2.44
1-YEAR NAV** 360 One Wam 2.43
20.22
GROWTH OPTION
`29.18 The fund is fairly diversified with
29.24 IDCW** modest positions in its top bets.
3-YEAR `29.18
13.54 MINIMUM INVESTMENT
`1,000
23.08 MINIMUM SIP AMOUNT Recent portfolio changes
`500
5-YEAR New entrants
10.55 EXPENSE RATIO # (%)
1.90 BSE, Century Textiles & Industries, Computer
AS ON 14 NOVEMBER 2023
EXIT LOAD Age Management Services (Sept). Honasa
The fund’s long-term return profile indicates
For units in excess of 10% Consumer, KPIT Technologies (Oct).
outsized outperformance across time frames.
of the investment, 1% will
be charged for redemption Complete exits
within 365 days.
Balrampur Chini Mills, Barbeque-Nation
*AS ON 31 OCT 2023
Hospitality, Campus Activewear, Hindustan
WHERE THE FUND INVESTS
**AS ON 13 NOV 2023
#AS ON 31 OCT 2023 Unilever, Infosys (Sept). City Union Bank,
ideaForge Technology, MTAR Technologies, VIP
Industries (Oct).
Portfolio asset
Fund
allocation
style box
Growth Blend Value
How risky is it?
96.80%
Large
Equity Fund Category Index

CAPITALISATION
Large cap 2.91

Standard Deviation 16.70 16.32 18.66
19.51
Medium
Mid cap
Small cap 77.59 Sharpe Ratio 1.61 1.66 1.46
Cash 3.20 FUND Mean Return 31.48 31.52 31.85

Small
MANAGER
BASED ON 3-YEAR PERFORMANCE.
INVESTMENT STYLE
The fund maintains a sizeable presence in
TAHER BADSHAH (IN PIC)/ The fund’s risk-return profile is not
AS ON 31 OCT 2023 ADITYA KHEMANI among the best in its category.
mid caps, apart from its small-cap tilt. 5 YEARS/ 0 MONTHS Source: Value Research
Should Apart from its small-cap tilt, this fund

has a sizeable presence in mid caps. It
generate free cash flow. It remains fully
invested and doesn’t take any cash calls.
healthy track record of outperformance.
Yet, it has been a middling performer,
You prefers businesses with demonstrated The fund portfolio is fairly diversified with its risk-return profile not among
Buy
potential of high growth, distinct com- with up to 65 stocks, running modest the best in the category. It must kick into
petitive advantages, and characterised positions even in top bets. In its running higher gear if it has to be counted among
by high return on capital and ability to time of five years, the fund has built a the top offerings in this space.
pick of the week

Century Ply: Strong demand ahead

Rising demand for furniture, real estate growth and aggressive capex plans to aid company’s performance.
T
he plywood manufacturer reported a revenue growth and construction segment is acting as a major growth driver Fundamentals
of 9.7% in the September quarter, led by demand for laminates. The MDF segment is seeing traction due to the CONSENSUS
ACTUAL
improvement in plywood and MDF (medium density rising demand for readymade and easy-to-install furniture, ESTIMATE
fibreboard) segments. Despite headwinds of higher whereas India’s rising hospitality and tourism sector is boost- 2021-22 2022-23 2023-24 2024-25
timber inflation and overcapacity in MDF space in the domes- ing demand for particle board segment. Revenue (` cr) 3,027.02 3,646.57 3,985.44 4,703.38
tic market, the company displayed strong execution ability as Third, key strengths like innovative products, increase in EBITDA (` cr) 532.44 582.96 620.16 748.59
its revenue surpassed Reuters-Refinitiv estimates by 4.2%. brand spending, launch of distribution management system, Net income (` cr) 312.07 394.30 399.01 465.08
A stable housing market and pick-up in the private sector strategic placement of its manufacturing facilities to speed up
EPS (`) 14.05 17.75 17.70 20.94
capex are expected to support de- product delivery, robust distribution
mand in the second half of 2023-24.
The slight correction in timber pric- Analysts’ views
channel and deepening data science
capabilities will boost competitive
Valuations PBV PE
DIVIDEND
YIELD (%)
Century Plyboards (India) 7.39 37.18 0.16

es in the third quarter will also bode 3 advantage.
Greenlam Industries 7.08 46.07 0.28
well. The company commands a 29%
Sell 19 Fourth, the company has planned
share in India’s organised plywood Buy aggressive capex spending in 2023-24 Greenpanel Industries 3.39 21.88 0.45
sector, and most analysts are confi- and 2024-25, which will help improve Stylam Industries 7.34 27.42 0.00
dent about its growth prospects. volumes. The upcoming new plant in
First, the company will benefit 5 Andhra Pradesh for laminates and
Greenply Industries 3.94 41.00 0.24
from the growth prospects of the

Indian real estate and furniture sec-
Hold MDF is on track and expected to start
operations in the second half of 2023-
Brokerage calls TARGET
RECO DATE RESEARCH HOUSE ADVICE PRICE (`)
tors. Growing population, urbanisa- 24. The plant will double the MDF
10 Nov 2023 Prabhudas Lilladher Buy 860
tion, economic growth and govern- capacity and increase the capacity of
10 Nov 2023 ICICI Securities Buy 760
ment schemes like the Pradhan laminates by 10%.
Mantri Awas Yojana and DDA The stock has outperformed the 10 Nov 2023 Phillip Securities Buy 742
A stable housing market and pick-up in the
Housing Scheme will help the real private sector capex are expected to support market benchmark in the past year 10 Nov 2023 Emkay Buy 820
estate sector. According to the com- demand in the second half of 2023-24. by delivering 8% returns against 9 Nov 2023 Elara Capital Buy 800
pany’s 2023 annual report, the Indian 6.1% by the BSE Sensex.
real estate market is expected to reach US $30 trillion by 2030. Selection methodology: We pick the stock that has shown Relative performance
On the other hand, rising disposable incomes, increase in the maximum increase in ‘consensus analyst rating’ during
100 MARKET PRICE: `636.95 107.6
living standards, growing demand for renovation activities, the past month. The consensus rating is arrived at by averag-
with customers prioritising comfort and aesthetics over price ing all analyst recommendations after attributing weights to
sensitivity, and growth in e-retail are some of the factors driv- each of them (5 for strong buy, 4 for buy, 3 for hold, 2 for sell and SENSEX
ing demand. The Indian furniture market will grow at a CAGR 1 for strong sell). An improvement in consensus analyst rating 106.6
of 10.09% between 2023 and 2028, states the report. indicates that the analysts are getting bullish on the stock. 106
Second, various business segments are witnessing strong Only stocks with at least 10 analysts covering them are consid-
traction. Features like longevity, flexibility, chemical resist- ered. You can see similar consensus analyst rating changes
15 NOV 2022 CENTURY PLYBOARDS ET DECOR 16 NOV 2023
ance, fire resistance and sound and heat insulation drive the during the past week in ETW 50 table.
Century Plyboards is compared with ET Decor and Sensex. Stock price and
demand for plywood for refurbishment activities. The interior —Sameer Bhardwaj index values normalised to a base of 100. Source: ETIG and Bloomberg.
WHAT EXPERTS ADVISE

BUY RESEARCH STOCK 1-YEAR TARGET POTENTIAL
*STOCK PRICES AS ON 16 NOVEMBER
STOCK ADVICE COMMENT

HOUSE PRICE* (`) PRICE (`) UPSIDE (%)
Maintain ‘buy’ due to its strong execution track record, robust earnings growth and lean balance sheet. The
HG Infra Engineering Centrum Broking Buy 877 1,218 38.9 executable order book, coupled with asset monetisation, provides greater comfort for future growth.
Maintain ‘buy’ due to continuation in new product launches, focus on volumes and margin expansion, cost
Eureka Forbes ICICI Securities Buy 510 700 37.3 optimisation, strong FCF generation, lower product penetration and inability of other brands in gaining
market share.
Maintain ‘buy’ due to new capacity additions, steady infusion therapy growth, higher exports growth, new
Poly Medicure Dolat Capital Buy 1,372 1,822 32.8 launches in cardiac and critical care segment, ramp-up of renal care segment and industry tailwinds.
Maintain ‘buy’ due to steady growth in order book, lower debt, rising incremental diversification, strong pres-
G R Infraprojects Nuvama Buy 1,107 1,428 29.0 ence in asset ownership, likely cut in cost of capital via asset monetisation, and experienced management.
Maintain ‘buy’ as its robust order book provides strong revenue visibility. Also, expertise in aluminium alloy
Alicon Castalloy Sharekhan Buy 823 999 21.4 castings, new product additions, better product mix and focus on EV projects are key positives.
Upgrade to ‘buy’ due to strong growth in P&A brands and margin improvement, led by backward integration
Antique Stock
Radico Khaitan Buy 1,366 1,655 21.2 and premiumisation of portfolio. Also, new product launches, better execution and scaling up of existing
Broking brands are key positives.
SELL RESEARCH STOCK 1-YEAR TARGET POTENTIAL

STOCK ADVICE COMMENT
HOUSE PRICE* (`) PRICE (`) DOWNSIDE (%)
Retain ‘sell’ due to below estimates EBITDA in second quarter amid weakness in export markets and fall in
Timken Kotak Securities Sell 2,951 2,450 -17.0 railway and aftermarket revenues. Valuations are high due to cyclical nature of end-product segments.
tax optimiser
Hike PF contribution to cut tax

Sudhir Kaushik of TaxSpanner.com tells readers how they can
optimise their tax by rejigging their income and investments.
P
une-based software pro-
fessional Manish Taneja
has a high salary, but a big
chunk goes in tax because
the pay structure is not INCOME
very tax-friendly. Though he claims
most of the available tax deductions,
FROM EMPLOYER
there is scope for tax optimisation.
TaxSpanner estimates that Taneja can
save nearly `74,000 in tax if he opts for INCOME HEAD CURRENT SUGGESTED
a higher contribution to the Provident
Fund and his salary structure in- Salary 13,80,000 13,80,000
cludes a few tax-free perks. Reduce this taxable
House rent allowance 5,52,000 5,52,000 portion of the pay
Taneja has opted for the minimum
package.
contribution of `1,800 per month Special allowance 5,09,604 2,93,504
(`21,600 per year) to the Provident
Fund. If he increases this to 12% of his Travel expenses reimbursements 30,000 30,000
basic salary, his employer will also
Telephone reimbursement 24,000 24,000
increase the contribution to `1.65 lakh
per year and, accordingly, reduce the Meal coupons 26,400 26,400
taxable special allowance. This will
cut Taneja’s take-home pay, but will Leave travel allowance 70,000 70,000 This is tax-free
save him almost `45,000 in tax. against submission
Uniform allowance 14,400 14,400 of bills.
Next, he should ask for some more
tax-free perks, such as gadget allow- Newspapers and periodicals 0 12,000 Gadgets and
ance and reimbursement of newspaper appliances bought
expenses. Under Section 17(2), gadgets Gadget allowance 0 60,000 for personal use are
bought for personal use are taxed at taxed at 10% of the
Employer's contribution to Provident Fund 21,600 1,65,600 value.
only 10% of the value. This deduction
came into focus during the work-from- Contribution to NPS under Sec 80CCD(2) 1,38,000 1,38,000 Increase PF
home arrangement induced by Covid. contribution to 12%
If Taneja buys gadgets and appliances TOTAL 27,66,004 27,65,904 of basic salary.
worth `60,000 in a year, his tax will
be reduced by about `17,000. If he gets
books and newspaper allowance of
`12,000 (`1,000 per month), his tax will INCOME FROM OTHER SOURCES
come down by `3,750.
Taneja and his family are covered Interest income 1,600 0 Avoid fixed
deposits and go
by group health insurance offered by Capital gains 2,600 0 for tax-free PPF
his company. However, he should buy instead.
health insurance separately as well. A Rental income 0 0
premium of `25,000 will give the fam-
TOTAL 4,200 0
ily a cover of almost `10 lakh. This will
also reduce his tax outgo by `7,800. All figures are in `
Tax-saving investments
Denotes suggestion to increase Denotes suggestion to reduce
INVESTMENT CURRENT SUGGESTED

OPTION (`) (`)
Provident Fund 21,600 1,65,600
Life insurance 1,30,000 1,30,000 Manish Taneja’s tax

TAX ON TAX ON TOTAL TAX SAVED WRITE
NPS under Sec 80CCD(1b) 50,000 50,000 TAX ON OTHER CAPITAL TO US
TOTAL ADMISSIBLE 2,00,000 2,00,000
SALARY INCOME
CURRENT
GAINS
`74,111 FOR HELP
PER YEAR Paying too much
Other deductions `4,70,060 499 261 tax? Write to us

at etwealth@
EXEMPTION OR CURRENT SUGGESTED

`4,70,820 TAX RATIO timesgroup.com with
‘Optimise my tax’
DEDUCTION (`) (`) (Total tax as % of annual income)
as the subject. Our
SUGGESTED EXISTING SUGGESTED experts will tell you
Home loan interest 60,000 60,000 how to reduce your
Buy health `3,96,709 0 0 tax by rejigging your
Medical insurance 0 25,000 insurance for 17% 14.3% pay and investments.
self and family. `3,96,709
TOTAL 60,000 85,000
mutual funds
PORTFOLIO
DOCTOR
Early start helps reach Not many

investors
BCCL
all goals comfortably
know
whether
they have
invested in
Nikhil Sharma is saving for multiple goals. Here’s what the doctor has advised him. the right
funds and if their
1 2 3 4 5 6 fund portfolio is on
EMERGENCY CHILD’S HIGHER CHILD’S FOREIGN MEDICAL RETIREMENT track. The Portfolio
FUND: EDUCATION: MARRIAGE: HOLIDAY: INSURANCE INCOME: 27 years Doctor assesses the
20 years 27 years
GOALS
IMMEDIATELY EVERY 7-8 years PREMIUM: 27 years CURRENT NEED:

PRESENT COST: PRESENT COST: `2.5 crore
health of the fund
PRESENT COST: PRESENT COST: PRESENT COST:
`6 lakh `12 lakh `25 lakh `5 lakh `40,000 per year (`1 lakh per month) portfolio, examines the
FUTURE COST: FUTURE COST: FUTURE COST: FUTURE COST: FUTURE COST: `5.25 FUTURE COST: schemes and their
N.A. `80.73 lakh `1.55 crore `8 lakh lakh per year `15.5 crore
suitability with regard to
AMOUNT EXISTING RECOMMENDED ACTION NEW
the goals and, if
PORTFOLIO INVESTMENTS INVESTED (`) SIP (`) SIP (`) required, recommends
CHECK-UP corrective measures. The
Has been investing in HDFC Low Duration 8,041 0 0
stocks and funds for Both are good schemes for parking corpus for an advice given is based on
emergency fund. the performance of the
the past 5-6 years.
1 Axis Ultra Short Term 7,947 0 0
Early start has helped funds, the risk profile of
him build a sizeable
Canara Robecco Emerging This fund has slipped in recent months. Shift corpus to
the investor as well as
portfolio. 5,90,794 0 HDFC Low Duration Fund and Axis Ultra Short Term. 0
Can reach all finan-
Equities his financial goals.
cial goals very com-
fortably. 2 ICICI Pru Nifty 50 Index 2,02,036 7,000 Continue SIPs in this stable index fund. 7,000
Assumptions used
Stopped SIPs in
active funds and in the calculations
3 ICICI Pru Nifty Next 50 Index 2,01,125 7,000 Continue SIPs in this stable index fund. 7,000
started in index INFLATION
funds recently. Fund is a chronic laggard. Shift corpus to Axis Growth Education For all
Most funds in his 4 Axis Bluechip 5,39,473 0 Opportunities and start SIPs of `3,000 in the fund to 3,000 expenses other goals
build a corpus for overseas vacations.
portfolio have done
well and should be
continued. ICICI Pru Corporate Bond 2,71,172
Continue SIPs in this outstanding debt fund to build
7,000 medical care corpus. 7,000 10% 7%
Must take life 5
Restart SIPs of `5,000 in this oustanding large-cap
RETURNS
insurance cover of at ICICI Prudential Bluechip 1,61,498 0 fund. 5,000 Equity funds Debt options
least `2 crore.
Note from HDFC Mid-Cap Opportunities 3,89,194 0 Hold this outstanding mid-cap fund for the long term. 0 12% 8%
the doctor
Retirement goal of This thematic fund is not very useful. Switch to Kotak
Edelweiss recently listed IPO 1,68,579 0 Small Cap for better returns. 0
`75,000 was low PORTFOLIOS
compared to the ANALYSED BY
current income. Continue holding this outstanding small-cap fund for
Kotak Small Cap 1,22,668 0 the long term. 0 RAJ KHOSLA,
Hiked to `1 lakh. Managing Director
and Founder,
Very low exposure ICICI Pru Nifty Small Cap 250 MyMoneyMantra
to debt. Open PPF 2,95,496 7,000 Continue SIPs in this stable index fund. 7,000
Index
account to stabilise
portfolio.
6 ICICI Pru Nifty Midcap 150 Index 2,88,309 7,000 Continue SIPs in this stable index fund. 7,000 WRITE
Opt for a balanced
portfolio in the NPS
TO US
with no more than Motilal Oswal Nasdaq 100 FOF 76,343 0 Continue holding this US-focused global fund. 0 FOR HELP
30-40% in equity If you want your portfolio examined,
funds. write to etwealth@timesgroup.com
Hold stocks for the long term and review performance with “Portfolio Doctor” as the subject.
Stock investments 19,16,418 15,000 regularly. 15,000 Mention the following information:
Review investments
and rebalance at  Names of the funds you hold.
least once a year. Continue contributions to the scheme. Don't withdraw  Current value of the investment.
NPS 26,70,572 25,000 before retirement.
25,000  If you have SIPs running in any
Reduce risk when of them.
the goal is near so  The financial goals for which you
Open PPF account and start investing `12,500 per invested.
that you don’t miss PPF 0 0 month in it to stabilise portfolio.
12,500
 How much you need for each
the target. financial goal.
, The goals can be reached using the mutual  How far away is each goal.
TOTAL `79,09,665 `75,000 funds marked in the same colour. `95,500
NG 3.7 PubDate: 20-11-2023Zone: ETWealthDelhi Edition: 1 Page: DETWDP22 User: shashi.bhushan4 Time: 11-17-2023 18:09 Color:
your feedback & more...

Readers’ response, online and in print, to ET Wealth stories has been enlightening.
We pick some that add information and perspective to our articles from previous issues.
Devashish Chakravarty’s column Dhirendra Kumar’s column ‘The case
‘How many hours should you work?’ for hybrid funds’ is only a brief intro-
made for an amazing and timely read.
After World War II, America became
Thorough research duction to a complex subject. He has
neither described the different types of
the number one economy in the world
for one important reason—the entire
on stock listing hybrid funds, nor their pros and cons.
His argument that these work well for
population worked very hard. Most of The cover story ‘Most wanted stocks average investors is not completely
them clocked 72-80 hours at work on a 2023’ has been written after thorough true as these are best for those with
weekly basis. Now, we are at a different research over four quarters, covering low risk appetites, particularly retired
point in time, with a different genera- 496 companies. It is an elaborate and persons. This is because such schemes
tion, wherein it is more about working meticulous analysis. The final list of
have an in-built cushion against mar-
six companies came as a surprise as it
smarter than working harder due to ket meltdowns, even as they help earn
did not cover industries like pharma
technological advancement. If you hire inflation-beating returns.
and banking. I am curious to see if
talented, self-driven people and avoid B.P. Sarkar
these companies will continue to be
firing industrious, hard-working peo-
the fund managers’ preference for the
ple, this group can work 45-50 hours and next two quarters. However, it would The story ‘Consider dividend-paying
still help the company and the country have been better to have a list of top 10 stocks to tackle volatility’ highlights
to perform better. companies after such a detailed study. the virtues of such stocks. It is an es-
Darshan Godbole Mangala sential part of retirement income. I was
surprised that the author highlighted
Uma Shashikant’s ‘A road map for inheri- ‘dividend percentage’, which can be
tors’ covers all aspects for wealth crea- regard to wills, defrauding parents even some of the challenging aspects of the en- very high if the face value is low and
tors and inheritors, incuding the process before the transfer of wealth, court liti- tire inheritance process. The many biases misleading. He lost a good opportunity
of wealth transfer. Defining life goals and gation related to distribution of wealth and prejudices in wealth transfer at the to explain the concept of ‘dividend yield’
priorities is central to the column. Family either during the lifetime of parents and end of one’s life must also be avoided. which is a more dependable ratio.
differences, cheating and disputes with grandparents, or after their death, are Vinod Johri Moses Elijah
3 in 5 millennials unsure of reaching goals

Nearly 56% believe they have not done enough financial planning, reveals a recent Bajaj Allianz Life survey.
Work-life 2 in 5 goals inspired Goals inspired by social media

balance, travel by social media
top millennial
goals 50% 85% 33% 63% 29% 55% 35%
19% Business Travel Physical and Live a Pursue a
expansion abroad mental fitness balanced life parallel career
Goals 2019 2023 2019 2022
Work-life balance Health / fitness Travel
30% 28% 27% 31% 33%
62% millennials Goals likely to Goals unlikely to be met Life insurance top investment
unsure of achieving be achieved 64% Financial freedom in old age tool for millennials
life goals 65% 42% 31% 26% 17% 16%
57% Buy/ own property Life Bank Mutual Gold (jewellery, Recurring Real
38% 62%
insurance fixed funds coins, bars) deposits estate
deposits
55% Retire rich
Child Health and 14%
Very likely to Unsure of education fitness Chit
achieve goals achieving goals 59% 58% 50% Business expansion funds
44% 12%
56% millennials Done sufficient Top goals with insufficient planning PPF, EPF &
NPS
have not planning
done enough Source: Bajaj Allianz Life India’s

financial Life Goals Preparedness Survey
73% 58% 61% 2023, by Kantar. The survey
planning for 56%
Not done
Financial freedom Financial security Want to buy/ own
was conducted among 1,936
respondents, in the 22-55 year
crucial goals sufficient planning in old age for family property age group, across 13 cities. All
figures don’t add up to 100%.
The Economic Times Wealth is available at an invitation price of ` 8/issue. To book your copy, contact your newspaper vendor or call 011 - 39898090; Email: crm.delhi@timesgroup.com; SMS ETWS to 58888
The Economic Times Wealth, published by Bennett, Coleman & Co. Ltd. exercises due care and caution in collecting the data before publication. In spite of Published for the proprietors, Bennett, Coleman & Co. Ltd. by Rajeev Yadav at Times House, 7, Bahadur Shah Zafar Marg, New Delhi-110
this, if any omission, inaccuracy or printing errors occur with regard to the data contained in this newspaper, The Economic Times Wealth will not be held 002, Phone: 011-23322000, Fax: 011-23323346 and printed by him at The Times of India Press, 13 & 15/1, Site IV, Industrial Area, Sahibabad, UP.
responsible or liable. The content hereof does not constitute any form of advice, recommendation or arrangement by the newspaper. The Economic Times Regd. Office: Dr Dadabhai Naoroji Road, Mumbai 400 001. Editor: Babar Zaidi (Responsible for selection of news under PRB Act). © Repro-
Wealth will not be liable for any direct or indirect losses caused because of readers’ reliance on the same in making any specific or other decisions. Readers duction in whole or in part without written permission of the publisher is prohibited. All rights reserved.
are recommended to make appropriate enquiries and seek appropriate advice before making any specific or other decisions. RNI No. DELENG/2011/37994. MADE IN NEW DELHI
NG 3.7 PubDate: 20-11-2023 Zone: ETWealthDelhi Edition: 1 Page: DETWDP47 User: shashi.bhushan4 Time: 11-17-2023 17:46 Color:
THE ECONOMIC TIMES HIKE PF

CONTRIBUTION
TO CUT TAX
P20
www.etwealth.co | Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune | Volume 13 No. 47 | November 20-26, 2023 | 24 pages | `8
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THE ECONOMIC TIMES

FOMO IS IT LOW BETA

By Babar Zaidi `21,551

How much does it cost? Cost of reconstruction... Premium

Damage to contents ... and cost of insurance

What home insurance will not cover

“A multi-year plan saves HOW TO BRING

FOMO triggers for investing

Time for large caps to shine?

The brokerage recently removed SRF from

Keep calm during a crisis

mysteries Resist the urge to panic when

Choose a lender with overdraft option

Apply for home loan

smart things to know

despite high inflation is likely to keep policy

Measuring market risk

return. A stock with a beta greater than 1 is

Low beta stocks can

manage risks better

GUJARAT STATE PETRONET KOTAK MAHINDRA BANK

GODREJ CONSUMER PRODUCTS On the other hand, deposits

for not leaving the property to your son

ET WEALTH TOP 50 STOCKS

RANK PRICE ` GROWTH%* VA LUAT I O N R AT I O S RISK R AT I N G

1 Fast growing stocks

LAGGARDS & LEADERS

Equity: Large cap 5-year returns

EQUITY: LARGE CAP

EQUITY: FLEXI CAP Equity: Mid cap 3-year returns

ANNUALISED RETURNS IN % AS ON 15 NOV 2023.

ETW FUNDS 100 Value Research Net Assets

HYBRID: EQUITY SAVINGS

HYBRID: AGGRESSIVE (EQUITY-ORIENTED) Quant Small Cap Fund

DEBT: DYNAMIC BOND

DEBT: CORPORATE BOND

loans and deposits

LOANS & DEPOSITS

Top five bank FDs

Savings account 4.00 500 No limit `10,000 interest tax-free Nil

PRICE OF 10 GM GOLD PRICE OF 1 KG SILVER

PENNY STOCKS UPDATE

Top price gainers Top volume gainers

Top price losers Top volume losers

INVESCO INDIA SMALL CAP

Maintains healthy track record

HOW THE FUND HAS PERFORMED Top 5 sectors in portfolio (%)

Point-to-point returns (%)

FUND BENCHMARK CATEGORY AVERAGE FACTS Capital goods 12.16

Rolling returns (%) WHAT IT Global Health 2.70

Equity Fund Category Index

Large cap 2.91

Cash 3.20 FUND Mean Return 31.48 31.52 31.85

Should Apart from its small-cap tilt, this fund

pick of the week

Century Ply: Strong demand ahead

Century Plyboards (India) 7.39 37.18 0.16

from the growth prospects of the

WHAT EXPERTS ADVISE

STOCK ADVICE COMMENT

SELL RESEARCH STOCK 1-YEAR TARGET POTENTIAL

Hike PF contribution to cut tax