Reliance Buys Indian Property Stocks, Bajaj Sells Drugmakers
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Indian policies to lure foreign investors and revive Asia’s third-biggest economy are driving the nation’s largest money managers to accumulate automakers, property companies and metal producers that stand to benefit most from a recovery.
Sunil Singhania, the head of equities at Reliance Capital Asset Management Ltd., is buying property and engineering stocks while Sampath Reddy, Bajaj Allianz Life Insurance Co.’s chief investment officer, is selling drugmakers and telecommunications shares in favor of mining companies.