The domestic stock market created history in May 2009 driven by the decisive victory of Congress Party-led United Progressive Alliance, some positive news flow globally and strong foreign inflows into emerging markets. Consequently, the Indian stock market outperformed the global markets with the Sensex and the Nifty, the benchmark indices, surging by 27.2% and 26.7% respectively in May. Our portfolio of top picks substantially outperformed the benchmark indices registering a mammoth gain of 43.7% during the month, driven by hefty gains in the mid-cap stocks, such as 3i Infotech (gained 64.1%), Shiv-Vani Oil & Gas Exploration (gained 84.3%) and Unity Infraprojects (gained 116.3%; the stock was added during the course of the month).
We are making one addition, that of Bajaj Holdings & Investments, to our list of top picks, as we believe that at the current market price the stock is at a significant discount to its intrinsic value and this makes it attractive.
Click here to read report: Sharekhan Top Picks
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