Birla MF sells banking, engg, oil & gas stocks

Birla Sun Life Mutual Fund has slashed its weightage to banking & financial services, engineering & capital goods, real estate, oil & gas stocks in the month of May. However, it raised its exposure to information technology, chemicals, utilities, automotive and telecom sectors.

A study of equity portfolios of Birla Mutual Fund for May shows that in the banking & financial services space, Union Bank of India, Ansal Properties and Central Bank of India, topped the list of sells while Indian Bank and South Indian Bank topped the list of buys. It has made fresh entry into City Union Bank, Bank of Maharashtra and Power Finance Corporation.(View - All Bulk Deals by Mutual Funds)

In the engineering & capital goods pack, Power Grid Corporation of India, Tata Power Company and Reliance Infrastructure were in the list of top sells.

In the oil & gas sector, HPCL, BPCL and Chennai Petroleum Corporation topped the list of sells while Reliance Industries and ONGC topped the list of buys. (Check out - Which sectors are attracting Fund Managers?)

Birla Mutual fund augmented its weightage to information technology, chemicals, utilities, automotive and telecommunication sectors. In the Information Technology sector, HCL Technologies, Satyam Computer Services and 3i Infotech topped the list of buys while Allied Digital Services, Megasoft and Everonn Systems India topped the list of sells. It has introduced Geometric and Mphasis while exited Geodesic Information Systems.

In the chemicals segment, it increased its exposure to Gujarat Alkalies, Tata Chemicals and Rallis India while decreased its exposure to Gujarat Narmada Valley Fertilizers Company, RCF and Clariant Chemicals India. BASF India was newly introduced stock but exited from Chambal Fertilisers and Chemicals.

In the automotive sector, it has bought over 24 lakh shares of Exide Industries. Ashok Leyland and Sundaram-Clayton were also in the list of top buys.

In the metal space, Tata Steel, Maharashtra Seamless and Welspun Gujarat Stahl Roh topped the list of buys. However, SAIL, JSW Steel and Jindal Steel & Power topped the list of sells.

Table of Stocks bought/ sold by Birla Sun Life Mutual Fund ...contd on Page 2

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