MFs rebalance new-age, IT portfolios ahead of Q3 result season

Mutual fund managers shuffled bets across new-age businesses, IT and bank stocks in December ahead of the third quarter results season in January. Within new-age businesses, they purchased online food delivery platforms Swiggy and Zomato, whose shares had underperformed since October. 126555055 While fund managers bought Tata Consultancy Services and trimmed exposure to Infosys, they rotated allocations in InterGlobe Aviation, parent of IndiGo, which bore the brunt of a selloff after the mass flight cancellations by the airline operator.