Franklin Templeton picks IT, pharma, engg; sells telecom

Franklin Templeton Asset Management enhanced its exposure to information technology, pharmaceuticals and engineering & capital goods sectors. However, it pared its exposure to telecommunication, oil & gas and cement & construction segments.

NTPC, IDFC and Cairn India were the top buys, while Jaiprakash Associates, Idea Cellular and India Infoline were the top sells. (View - All Bulk Deals by Mutual Funds)

A study of Franklin Templeton Asset Management portfolio for the month of October 2009 showed that in the information technology space, it bought Infosys Technologies, TCS and Polaris Software Lab. However, it sold Financial Technologies and Patni Computer Systems.

In the pharmaceuticals sector, it purchased Sun Pharmaceutical Industries, Dr Reddys Laboratories, Ipca Laboratories and introduced Divis Laboratories. But it sold Lupin, GlaxoSmithKline Pharmaceuticals and Piramal Healthcare. (Check out - Which sectors are attracting Fund Managers?)

It introduced BGR Energy Systems, KSB Pumps and purchased Crompton Greaves, Cummins India and Bharat Heavy Electricals in the engineering & capital goods sector. While, it sold Larsen and Toubro, Areva T&D, KEC International and exited Bharat Bijlee, AIA Engineering.

In the telecommunication space, it sold Bharti Airtel, Idea Cellular, Reliance Communications and exited Tata Communications. However, it bought Siemens and Finolex Cables.

In the oil & gas segment, it sold Reliance Industries, HPCL and BPCL, but it bought Cairn India, Gujarat State Petronet, Oil India and introduced Aban Offshore.

It exited Consolidated Construction Consortium and sold Jaiprakash Associates, IVRCL Infrastructure, Madras Cements in the cement & construction pack. While it purchased Hindustan Construction Company, IRB Infrastructure Developers and introduced Ahluwalia Contracts India.