The National Pension System (NPS) is increasingly becoming a popular investment to plan for retirement. NPS fund managers know all too well therefore importance to keep the risk level of the portfolio in check. That is one important reason why a large chunk of NPS portfolios lie in large-cap stocks. Another characteristic of a NPS portfolio is that due to its low withdrawals and long lock-ins, fund managers can take a long term view on the stocks. NPS-Scheme E in the Tier-1 account invests in...