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Franklin Templeton picks telecom, oil&gas; sells metal
Franklin Templeton Asset Management has reduced its exposure in engineering & capital goods, metals &mining and media & entertainment sectors, while increased its weightage in telecommunication, oil & gas and banking & financial services space.
Franklin Templeton Asset Management increased its weightage in telecommunication, oil & gas and banking & financial services space, while reduced its exposure in engineering & capital goods, metals &mining and media & entertainment sectors.
A study of the Franklin Templeton Asset Management portfolio for the month of July 2011 showed that in the telecommunication space, the fund bought Idea Cellular and Bharti Airtel.
In the oil & gas sector, it purchased Indian Oil Corporation, Gujarat State Petronet and Reliance Industries, while sold Gujarat Gas Company. (View - All Bulk Deals by Mutual Funds).
The fund bought Mahindra & Mahindra Financial Services, Standard Chartered PLC, IndusInd Bank and introduced Power Finance Corporation and Allahabad Bank in the banking & financial services space. However, the fund sold Kotak Mahindra Bank, State Bank of India and ICICI Bank and exited from South Indian Bank in the space.
In the engineering & capital goods space, it sold BHEL, Cummins India and Thermax. The fund bought Reliance Industrial Infrastructure and AIA Engineering and introduced Grindwell Norton in the space.
The fund sold Adhunik Metaliks, JSW Steel and Coal India in the metals & mining space. The fund bought Gujarat Mineral Development Corporation and Jindal Steel in the same space.
In the media & entertainment space, the fund sold TV18 Broadcast, DB Corp and Zee Entertainment Enterprises.
Table of Stocks bought/ sold by Franklin Templeton Asset Management ...contd on Page 2
