Reliance Tax Saver (ELSS) Fund augmented its exposure to IT, engineering, while slashed its exposure to metal and banking sector.

The analysis of the scheme for March 2008 shows that in the IT pack, it bought Aptech, Infotech Enterprises, Moser Baer and TCS. In the engineering & capital goods sector, it purchased Areva T&D, Swaraj Engines, Cummins India, Alstom Project, but sold KSB Pumps. (View - What is Reliance Tax Saver (ELSS) Fund buying / selling?)

In the metal segment, it offloaded its position significantly by selling Tata Steel and 9.20 lakh shares of Hindalco Industries. In the banking space, it bought PNB, 1.91 lakh shares of SBI and sold ICICI Bank. In the service sector, there was fall in the weightage due to drop in the prices of the stocks. It bought Deccan Aviation in the same space.

Areva T&D, Tata Steel and TCS were the top stocks held by the scheme in March. Engineering (15.50%), Banking (12.37%) and Auto (10.77%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Reliance Tax Saver (ELSS) Fund).

The equity exposure of the scheme has dropped from 85.04% to 81.89% and cash in hand has increased from 5.83% to 8.75%. The total assets managed by the scheme were of Rs 1822.34 crore as on March 31, 2008.
 
Over the last one year, Reliance Tax Saver (ELSS) Fund has yielded 4% returns as against 23.72% yielded by its benchmark BSE 100 as on April 15, 2008.

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