 Birla Sun Life sells telecom, oil & gas; buys pharmaPublished on Mon, Nov 09, 2009 at 14:51 | Source : Moneycontrol.com Updated at Sat, Nov 14, 2009 at 18:12 125740 Investors following Reliance Comm. Share this News with them.
Birla Sun Life Asset Management Company slashed its exposure in telecommunication, oil & gas and utilities space. However, it increased it exposure in services, food & beverages and pharmaceuticals sector. Reliance Communications, Idea Cellular and GMDC were the top sells, while Ashok Leyland, Ballarpur Industries and Apollo Tyres were the top buys. The study of Birla Sun Life Asset Management portfolio for the month of October 2009 showed that in the telecommunication space, it sold Bharti Airtel, Reliance Communications, Idea Cellular and exited Tata Communications. However, it purchased Honeywell Automation and introduced Sterlite Technologies. (View - All Bulk Deals by Mutual Funds) It exited Oil India and sold Reliance Industries, ONGC, HPCL in the oil & gas pack. But it bought Aban Offshore, GAIL India and Cairn India. In the utilities space, it sold Reliance Infrastructure, Torrent Power and exited Neyveli Lignite Corporation, while it bought Tata Power Company and NTPC. The buying was seen in the services sector, where it bought United Breweries Holdings, PTC India, Jet Airways and introduced Great Eastern Shipping Company. It sold Bharati Shipyard and Container Corporation of India in the same space. (Check out - Which sectors are attracting Fund Managers?) In the food & beverages pack, it purchased Balrampur Chini Mills, United Spirits, Shree Renuka Sugars and introduced Bajaj Hindusthan. But it sold Mcleod Russel (India) and Goodricke Group. It bought Cipla, Biocon and Ranbaxy Laboratories in the pharmaceuticals space, while it sold Wyeth and Torrent Cables. Table of Stocks bought/ sold by Birla Sun Life Asset Management Company ...contd on Page 2 For more Mutual Fund Action in Market click here
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