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Investors Should Be Watching India’s Shoppers, Axis Mutual Fund Says

  • Play India by buying stocks linked directly to consumers: Axis
  • S&P BSE Consumer Discretionary Index gained 54 percent in 2017
Shoppers In Jammu's Raghunath Market as State Bank of India is Betting Against the Street
Photographer: Dhiraj Singh/Bloomberg

From branded underwear to passenger cars, consumer goods are India’s best stock market bets. And they’re ones you can make money in even when the shares aren’t cheap.

That’s the view of Axis Mutual Fund in Mumbai, whose long-term equity portfolio holds 26 percent in consumer discretionary and staples companies, together the second largest holding after financials. The fund posted average annual returns of 24 percent over five years, beating 96 percent of peers.