When the sentiment towards the pharmaceutical sector had turned sour in May, several fund managers took contrarian bets, lapping up leading stocks in the segment.
Sun Pharmaceutical Industries emerged as their top choice and equity mutual funds (MFs) added nearly 15 million shares of the firm to their portfolios. Their net investment in the drugmaker was nearly Rs 745 crore, even as the stock slipped from Rs 600 to less than Rs 500 in a matter of days.