 Birla Sun Life MF buys IT, metal, cementPublished on Thu, Jul 09, 2009 at 18:44 | Source : Moneycontrol.com Updated at Sat, Jul 11, 2009 at 12:56 90032 Investors following Unitech. Share this News with them.
Birla Sun Life Mutual Fund increased its investments in IT, metal and cement and construction space. However, it slashed exposure in oil & gas, Pharmaceuticals and realty sectors. Unitech, Nagarjuna Construction and PTC India were the top buys, while Chambal Fertilisers, Ashok Leyland and Tata Chemicals were the top sells. A study of the equity portfolios managed by the Birla Sun Life Mutual Fund as on June 30, 2009 showed that in the IT space, it bought Mphasis, Wipro, Megasoft, Core Projects & Technologies Ltd, Infosys Technologies, Patni Computer, Geometric and introduced Oracle Financial Services Software. (View - All Bulk Deals by Mutual Funds) In the metal pack, it bought Hindalco Industries,Welspun Gujarat, Gujarat Mineral Development Corporation, SAIL, Sterlite Industries (India) and Tata Steel. It also introduced Sesa Goa, Jindal Saw, but sold JSW Steel and Monnet Ispat. It purchased Unitech, Nagarjuna Construction, Ultratech Cement, Madras Cements, Jaiprakash Associates and United Breweries Holdings in the cement & construction, while it sold India Cements ACC and exited Patel Engineering. (Check out - Which sectors are attracting Fund Managers?) The selling pressure was seen in the oil & gas sector where it exited Chennai Petroleum Corporation, Aban Offshore and sold Indian Oil Corporation. However, it purchased Cairn India, Reliance Industries, HPCL and BPCL. In the pharmaceuticals sector, it sold Ranbaxy, Sun Pharma, Cipla and exited Glenmark Pharma, novartis India, but bought Dr Reddys Laboratories, Dishman Pharma and Pfizer. It decreased its investment in the Housing Development and Infrastructure, Indiabulls Real Estate in the realty space, while introduced Shoppers Stop. Table of Stocks bought/ sold by Birla Sun Life Mutual Fund ...contd on Page 2 For more Mutual Fund Action in Market click here
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