SBI One India Fund increased its weightage to metal, banking, technology and oil sectors while reducing its exposure to the engineering and auto sectors. (View - What is SBI One India Fund buying / selling?)

In the banking and finance space, the scheme has bought 0.26 lakh shares of India’s largest bank SBI while offloaded complete stake in Power Finance Corporation, a finance provider to power projects.

Buying was seen in power sector as it bought 2.99 lakh shares of Power Grid Corporation. In the cement and construction space, it bought 0.7 lakh shares of Nagarjuna Constructions while exited Simplex Projects.

The weightage to oil sector increased due to increase in share price of respective companies. However, the scheme sold 0.24 lakh shares of ONGC.

Share price of pharma companies also surged in the month of April so the weightage increased. However, it has sold 3.49 lakh shares of Vimta Labs and 0.72 lakh shares of Ranbaxy Labs.

In the engineering space, it has old 2 lakh shares of Carborundum Universal and 1 lakh shares of Suzlon Energy.

Reliance Industries, ITC and Larsen & Toubro were the top stocks held by the scheme in April. Engineering (20.96%), Oil & Gas (11.73%) and Cement (8.19%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by SBI One India Fund).

The cash exposure of the scheme has increased from 6.5% to 7.91%. The total assets managed by the scheme were of Rs 1,487 crore as on April 30, 2008.
 
Over the last one-year, SBI One India Fund has yielded 1.8% returns as against 25.16% yielded by its benchmark BSE 200 as on May 9, 2008.

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