ICICI Prudential Asset Management, the country’s second-largest money manager by assets, was busy all through April lapping up beaten down stocks, when the BSE benchmark Sensex advanced around 1 per cent.
The fund house increased exposure to select stocks such as Vodafone Idea, Lakshmi Vilas BankNSE 0.14 %, Avanti Feeds, Bharat ElectronicsNSE 3.03 % and NBCC, that have plunged 45-72 per cent since January 2018.
