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Franklin Templeton MF reduces exposure to banks, services
Franklin Templeton Mutual Fund has increased its investment in telecommunication, pharmaceuticals and oil & gas sectors. However, it has reduced its exposure in banking & financial services, services and utilities sectors.
Franklin Templeton Mutual Fund has increased its investment in telecommunication, pharmaceuticals and oil & gas sectors. However, it has reduced its exposure in banking & financial services, services and utilities sectors.
A study of the equity portfolios managed by the Franklin Templeton Mutual Fund as on February 28 shows that, in the telecommunication pack, it has bought Idea Cellular and Bharti Airtel. (View - All Bulk Deals by Mutual Funds)
In the pharmaceuticals space, the fund house has purchased Cipla, Piramal Healthcare, Lupin while sold Sun Pharma, Dr Reddys Labs and GSK Pharma.
It has bought Indian Oil Corporation, Reliance Industries, Cairn India and ONGC in the oil & gas sector. However, it has sold HPCL and BPCL.
The selling was seen in the banking & financial services sector, wherein it exited Bank of Baroda and South Indian Bank, and reduced its exposure to SBI, ICICI Bank, HDFC Bank and Axis Bank. However, it has bought HDFC. (Check out - Which sectors are attracting Fund Managers?)
In the services space, it has sold GE Shipping and Shipping Corporation of India, and exited Mercator Lines.
It has offloaded CESC and Reliance Infrastructure in the power pack. However, it has bought Neyveli Lignite, Power Grid and NTPC.
Table of Stocks bought/ sold by Franklin Templeton Mutual Fund ...contd on Page 2
