 DSP BlackRock MF buys banking, telecom; sells metalPublished on Wed, Jul 15, 2009 at 10:37 | Source : Moneycontrol.com Updated at Wed, Jul 15, 2009 at 10:54 31536 Investors following Apollo Tyres. Share this News with them.
DSP BlackRock Mutual Fund increased its exposure to sectors like banking & financial services, telecommunication and pharmaceuticals. However, it reduced its investment in metals & mining, real estate and cement & construction. Apollo Tyres, NTPC and Dish TV were top buys while Suzlon Energy, PTC India and Allahabad Bank were top sells. The study of DSP BlackRock Mutual Fund for the month of June 2009 showed that the fund house increased it exposure to banking & financial services space, wherein it bought Kotak Mahindra Bank, Punjab National Bank, ING Vysya Bank and introduced Network 18 Media & Investments, Yes Bank, Bank Of Baroda and Central Bank of India. However, it sold HDFC, HDFC Bank, IDFC and exited Development Credit Bank and Allahabad Bank. (View - All Bulk Deals by Mutual Funds) The fund bought Bharti Airtel, Tata Communications and introduced MTNL in the telecommunication pack. But it sold Reliance Communications, Sterlite Technologies and Idea Cellular. The buying was also seen in the pharmaceuticals sector, in that the fund introduced Panacea Biotech, Ranbaxy Laboratories and purchased Dr Reddys Laboratories, Glenmark Pharma and Cipla, while it sold Sun Pharmaceutical Industries, Torrent Pharmaceuticals and Divis Laboratories. (Check out - Which sectors are attracting Fund Managers?) The selling was seen in the metals & mining space, wherein it exited Ashapura Minechem, Bilpower and sold Tata Steel, Sterlite Industries, SAIL. But it bought the share of Jindal Steel & Power, Gujarat Mineral Development Corporation, Jindal Saw and introduced Sarda Energy and Minerals, JSW Steel. It sold DLF, Pantaloon Retail, Trent and Indiabulls Real Estate in the real estate space. The fund reduced it exposure to cement & construction segment, in that it sold Hindustan Construction Company, India Cements, BL Kashyap & Sons and exited Pratibha Industries, Hyderabad Industries. However, it bought IVRCL Infrastructure, Consolidated Construction Consortium, ACC and introduced Prism Cement and Noida Toll Bridge Company. Table of Stocks bought/ sold by DSP Black Rock Mutual Fund ...contd on Page 2 For more Mutual Fund Action in Market click here
Entities: Moser Baer
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