 Dena Bank, IDBI Bank, GVK Power top buys: Kotak Asset MgmtPublished on Thu, Oct 08, 2009 at 17:36 | Source : Moneycontrol.com Updated at Fri, Oct 09, 2009 at 14:03 38114 Investors following Dena Bank. Share this News with them.
Kotak Mahindra Asset Mgmt Co. Ltd. increased its exposure to sectors like banking & financial Services, real estate and pharmaceuticals. However, it reduced its investment in metals & mining, oil & gas and food & beverages. Dena Bank, IDBI Bank and GVK Power & Infra were top buys while Apollo Tyres, NHPC and Hindalco were top sells. The study of Kotak Mahindra Asset Mgmt Co. for the month of September 2009 showed that in banking & financial space, it bought India Infoline, IndusInd Bank, Allahabad Bank, Axis Bank, Bank Of Baroda, Indian Bank, Shriram Transport Finance and introduced Dena Bank, IDBI Bank, IDFC, Oriental Bank, Federal Bank, Indian Overseas Bank, LIC Housing Finance. However, it exited Rural Electrification, Power Finance and Andhra Bank. (View - All Bulk Deals by Mutual Funds) Buying interest was seen in the real estate sector, wherein it purchased Sobha Developers, DLF, Indiabulls Real while it introduced HDIL, Puravankara Projects and Orbit Corporation. The fund bought Dr Reddys Lab, Lupin, Torrent Pharma and introduced Orchid Chemicals. But, it exited Biocon, Piramal Healthcare The selling pressure was seen in the metals & mining space, wherein it sold Sesa Goa and exited SAIL, Monnet Ispat, Jindal Saw, NALCO, Hind Zinc. However, it introduced Welspun Gujarat, Maharashtra Seamless and purchased PSL Ltd.(Check out - Which sectors are attracting Fund Managers?) In the oil and gas segment, it exited Cairn India and sold HPCL, Aban Offshore, ONGC, GAIL, but bought Indian Oil, BPCL. The fund sold Shree Renuka Sugars, Balrampur Chini and exited Dhampur Sugar, United Spirits, Bajaj Hindusthan, Britannia Industries, Tata Tea in the food & beverages Table of Stocks bought/ sold by Kotak Mahindra Asset Mgmt Co....contd on Page 2 For more Mutual Fund Action in Market click here
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