The least recommended stocks at the start of the year have managed to beat the benchmark indices.
GlaxoSmithKline Pharmaceuticals Ltd., Page Industries Ltd., Wipro Ltd., Mphasis and Hexaware Technologies Ltd., which had the highest percentage of ‘Sell' ratings, gained in the range of 7-67 percent so far this year, according to Bloomberg data. That compares with more than 3 percent fall in the Nifty 50 Index during the period.
More than 50 percent analysts rated GSK Pharma a ‘Sell'. The stock, however, had gained nearly 30 percent before the NSE Nifty 50 Index corrected more than 10 percent from its August peak.
From the information technology pack, Mindtree, which had 42 percent ‘Sell' rating, gained nearly 67 percent.
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