Power Grid, REC, PFC among select PSU stocks on fund managers’ September list

With stock indices trading close to all-time highs and valuations at a premium to long-term averages, fund managers in September bought into select PSU stocks where valuations are still low and they are likely to benefit as a new capex cycle kicks in.

Stocks like Coal India, REC, PFC, Power Grid, Bharat Electronics and HPCL were among the picks of fund houses.

As investors continued to allocate money to mid-, small-cap and multi-cap schemes, fund managers looked at companies that would benefit from the stability in the Indian economy.

Some sectors like real estate, pharma, discretionary consumption and NBFCs found favour with fund managers. Stocks like Sunteck Realty, Five Star Business Finance, Zydus Lifesciences, Jyothy Labs, Torrent Pharma, Barbeque Nation saw buying from funds.

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