Top holdings of MINDX
In this article, we will analyze some of the top holdings of MINDX and look at their current stock performance. The top ten holdings of MINDX form 43.9% of the portfolio. The chart below shows the price, moving averages, and returns of some of the top ten holdings of MINDX. All prices and returns are in terms Indian rupees.
The top holdings constitute companies from financials, information technology, healthcare (RDY), and the consumer staples sectors.
ITC is an Indian conglomerate and has businesses in different verticals such as FMCG, hotels, information technology, and agri-business. Over the last year, ITC has given a negative return of about 12%. ITC is trading below its 100-day and 20-day moving averages. ITC forms 4.8% of the MINDX’s portfolio and is the second largest holding.
IndusInd Bank is a private sector bank in India. Financials (IBN) (HDB) were among the worst-performing sectors in 2015. However, mid-cap IndusInd Bank performed well and was able to give a superlative return of about 20%. The beginning of 2016, however, has been jittery. Currently, IndusInd bank is trading below both its 100-day and 20-day moving averages.
Healthcare was the best-performing sector in Indian markets in 2015. Ajanta Pharma is an Indian pharmaceutical company engaged in the development, manufacturing, and marketing of drugs. It forms 4% of MINDX’s portfolio. In 2015, Ajanta Pharma gave a stellar 42.5% return. However, currently, it is trading below both its 100-day and 20-day moving averages.
While most of the top ten holdings are trading below both their 100-day and 20-day moving averages, eClerx Services and Mindtree are the exceptions. Both these companies are in the information technology sector (INFY). In the next article, we will compare MINDX with similar India-focused funds.