SBI Blue Chip Fund has reduced exposure to engineering, oil & gas, pharma and auto while increased weightage to bank, utilities and IT. (View - What is SBI Blue Chip Fund buying / selling?)

In the engineering space, it sold Grasim and also sold 1.12 lakh shares of Crompton Greaves. However, it introduced L&T and purchased Century Textiles and BHEL.

In the oil & gas sector, it sold ONGC, Gail, and 1.5 lakh shares of Indian Oil Corporation. In the pharma pack it sold Aventis Pharma and 1.49 lakh shares of Ranbaxy Laboratories. In the auto space, it sold Mahindra and Mahindra. In the metal pack, it sold Sterlite Industries and Tata Steel.

Buying was seen in the banking space, as it introduced Axis Bank and bought SBI.

In the utilities space, it introduced Reliance Infrastructure. However, it sold Tata Power Company. In the IT sector it introduced Infosys, while it sold Satyam and TCS.

Reliance Industries, JP Associates and Sterlite Ind were the top stocks held by the scheme in March. Banking (13.31%), Engineering (9.18%) and Oil & Gas (8.68%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by SBI Blue Chip Fund).

The equity exposure of the scheme has dropped from 88.87% to 87.91%. The total assets managed by the scheme were of Rs 1,206.52 crore as on April 30, 2008.
 
Over the last one year, SBI Blue Chip Fund has yielded 13.1% returns as against 29.08% yielded by its benchmark BSE 100 as on May 9, 2008.

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