Franklin Templeton buys media, metals; sells auto, banking

Nifty BSE | NSE 30/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Unitech | TV18 Broadcast | Bank of Rajasthan | Standard Chartered PLC | Cairn India |

Franklin Templeton Asset Management has increased its weightage in the media & entertainment, metals & mining and utilities space, while reduced its exposure in the automotive, banking & financial services  and information technology space.

GVK Power & Infras, Unitech and IBN18 Broadcast were the top buys, while Bank of Rajasthan, Standard Chartered PLC and Cairn India were the top sells.

A study of the Franklin Templeton Asset Management portfolio for the month of August 2010 showed that in the media & entertainment space, the fund introduced Dish TV and bought IBN18 Broadcast, Television Eighteen and Zee Entertainment Enterprises. However, it sold TV Today Network.

In the metals & mining sector, it purchased Tata Steel, Hindustan Zinc and Hindalco Industries, while it sold Sterlite Industries, Adhunik Metaliks and Usha Martin. (View - All Bulk Deals by Mutual Funds).

It bought GVK Power & Infrastructure and sold NTPC in the utilities segment.

In the automotive space, it sold Mahindra and Mahindra, Tata Motors and Bajaj Auto. But it purchased Escorts, Maruti Suzuki India and Apollo Tyres. (Check out - Which sectors are attracting Fund Managers?).

The fund exited Karur Vysya Bank and Bank of Rajasthan in the banking & financial services. It sold HDFC Bank, Standard Chartered PLC and Mahindra & Mahindra Financial Services. However, it bought ICICI Bank, State Bank of India and Kotak Mahindra Bank. It also introduced Canara Bank, Numero Uno Projects and Bajaj Holdings & Investment in the same space.

In the information technology space, it sold Oracle Financial Services Software, Patni Computer Systems and exited Everonn Education. However, it purchased HCL Infosystems and introduced Globsyn Infotech in the same space.

Table of Stocks bought/ sold by Franklin Templeton Asset Management ...contd on Page 2

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