IIFL Wealth Management Co., which runs India's best-performing equity fund, is buying protection in the options market as the rally lifts the nation's stocks to near a record.
The NSE Nifty 50 Index has come within 0.9 per cent of its March 2015 peak after rebounding 28 per cent from a low in February. At the same time, a measure of the cost of buying at-the-money puts is the cheapest since September 2006, data compiled by Bloomberg show.
