Measured by returns in 2013, the top 10 funds had only three from large houses; nimble strategy could be a factor.
IT, pharma and FMCG stocks are the top performers in 2013.
After relentlessly selling shares for most of 2013, India's equity mutual fund managers have turned buyers in the fag-end of the year.
The 46-year-old chairman of the Aditya Birla Group has made at least 28 acquisitions since he took the reins of the group 18 years ago.
The move comes less than two months after the Union Budget clarified that returns from pass through certificates were tax-exempt.
Many fund managers at domestic institutions had cut their exposure to Infosys shares ahead of the March quarter earnings.
The state's tax department had collected Rs 64 crore (Rs 640 million) from ACC, against which the company moved the Himachal Pradesh High Court.
Investors redeem units worth Rs 2,000 crore in October.
Unitech, a New Delhi-based real estate developer, has said various bills related to land and real estate sector may impact the sector's growth if various stakeholders' interests are not taken care of.
Foreign investors are preferring to access the Indian market through the sub-account route rather than coming in as foreign institutional investors (FIIs), thanks to stricter regulatory norms and tax-related concerns related to the proposed general anti-avoidance rules (GAAR).
High crude oil prices, which the central bank perceives as a risk to inflation, may limit the extent of rate cut to 25 basis points rather than 50 bps, economists said.
In dollar terms, the Nifty has gained 26.7 per cent in this year, while the Sensex has advanced 25 per cent during the same period.
After a disastrous 2011, stock market investors are pinning hopes on next year. Top sell-side analysts believe though there is more pain ahead, 2012 is likely to end on a positive note.
If the new Companies Bill becomes law, 10 of the 30 Sensex companies will have to look for new auditors.
With the prevailing uncertainty in equity markets and an indefinite postponement of hopes of any recovery, retail investors accessing stock markets through equity mutual fund schemes are wriggling out fast.
"In the backdrop of inadequate disclosure levels on share pledging, investment in such companies exposes an investor to severe price volatility in case a promoter is not able to meet payments or provide additional collaterals in a falling market," analysts at Crisil Equities said in a research report.
Products structured on real estate and promising over 20 per cent annual returns are gaining popularity among wealthy investors.
Till October 14 this year, FIIs were net sellers in equities at Rs 1,132 crore (Rs 11.32 billion) while their debt exposure stood at Rs 20,029 crore (Rs 200.29 billion). This is the first time since 2008 that FIIs are net sellers in equities.
The Burman family is in talks to buy less than 26 per cent stake in Espirito Santo India.
According to market sources, Jhunjhunwala will acquire a significant minority stake in Pipavav.
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