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Birla Sun Life sells cement, media; picks banking

Published on Fri, Oct 16, 2009 at 16:17 | Source : Moneycontrol.com

Updated at Tue, Oct 20, 2009 at 15:17

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Birla Sun Life sells cement, media; picks banking

Birla Sun Life Asset Management Company decreased its exposure in cement & construction, food & beverages and media & entertainment. However, it enhanced it exposure in banking & financial services, automotive and metals & mining sector.

Unitech, Reliance Petroleum and GVK Power & Infrastructure were the top sells, while GMDC, Jaiprakash Associates and Idea Cellular were the top buys.

A study of the Birla Sun Life Asset Management portfolio for the month of September 2009 showed that in the cement & construction sector, it sold Unitech, ACC, Madras Cements and exited IRB Infrastructure Developers, India Cements. But it purchased Jaiprakash Associates, Sadbhav Engineering and Lanco Infratech. (View - All Bulk Deals by Mutual Funds)

In the food & beverages pack, it sold United Spirits, Shree Renuka Sugars and Balrampur Chini Mills. While it bought Mcleod Russel (India) and Radico Khaitan.

The fund sold Jagran Prakashan, PVR and Zee Entertainment Enterprises in the media & entertainment space. But it introduced NDTV, Adlabs Films and purchased Balaji Telefilms. (Check out - Which sectors are attracting Fund Managers?)

The buying was seen in the banking & financial services, automotive and metals & mining space. In the banking & financial services sector, the fund has introduced Dena Bank, Canara Bank and bought SBI, ING Vysya Bank, Shriram Transport Finance Corporation. However, it sold Rural
Electrification Corporation, Network 18 Media & Investments and Housing Development Finance Corporation.

In the automotive pack, it bought Mahindra and Mahindra, Tata Motors and MRF, while it sold Exide Industries.

The fund introduced Gujarat Mineral Development Corporation and bought Sterlite Industries, Tata Steel, Usha Martin in the metals & mining space. It sold Monnet Ispat and exited Tata Steel (CCPS).

Table of Stocks bought/ sold by Birla Sun Life Asset Management Company ...contd on Page 2

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