Abakkus Small Cap Fund Adds Indo-MIM, Exits Bank of Baroda

Abakkus’ latest portfolio changes underscore that view. Indo-MIM, a precision casting and engineering components company, fits the kind of industrial and manufacturing exposure that benefits when domestic capex, defense ordering and global supply-chain diversification continue to build. The broader backdrop is supportive. India’s market has stayed resilient even as global rates remain elevated, with investors still paying up for businesses tied to structural growth rather than short-term earnings swings.

The exits are just as telling. Bank of Baroda had run hard before recent consolidation, and trimming exposure there suggests the easy money in PSU banks may have already been made. Cyient DLM, meanwhile, has been volatile and remains more sensitive to execution and valuation resets. With technical readings showing Bank of Baroda slipping below its 50-day trend and Cyient DLM still well beneath prior highs, the fund appears to be rotating away from names where momentum has cooled and toward stocks with cleaner multi-year runways.

That is the core investment message here: active managers are not abandoning India’s equity story, they are refining it. As capital keeps moving into domestic manufacturing, defense, engineering and niche compounders, the winners may be the stocks that are still underfollowed, not the ones already wearing the market’s crown.

For investors, the playbook is clear. Follow the money into businesses with durable order books, export potential and operating leverage, and be cautious with crowded cyclical names that have already rerated. In this market, selection is the alpha.