HDFC Bank, Wipro, Tata Power top sells: Franklin Templeton

Franklin Templeton Asset Management has decreased its investments in information technology, engineering & capital goods and pharmaceuticals space, while enhanced its exposure in banking & financial services, metals & mining and telecommunication.

HDFC Bank, Wipro and Tata Power Company were the top sells, while HDFC, Dabur India and Idea Cellular were the top buys.

A study of the Franklin Templeton Asset Management portfolio for the month of January 2012 showed that in the information technology space, the fund sold Infosys, Wipro and TCS and exited from MindTree, while it bought Oracle Financial in the same space.

In the engineering & capital goods segment, it sold L&T, BBHELand Siemens. However, it bought Reliance Industrial Infrastructure, Cummins India and Thermax.

The fund sold Cipla, Cadila Healthcare and GlaxoSmithKline Pharma in the pharmaceuticals space. However, it purchased only Lupin. (View - All Bulk Deals by Mutual Funds).

In the banking & financial services space, the fund introduced Power Finance Corporation and bought HDFC, ICICI Bank and Union Bank of India. But it sold Axis Bank, Rural Electrification Corporation and Standard Chartered PLC. The fund also exited HDFC Bank from the same space.

The fund purchased Hindalco Industries, Jindal Steel & Power and Tata Steel in the metals & mining space. However, it sold Coal India and Hindustan Zinc. (Check out - Which sectors are attracting Fund Managers?)

In the telecommunication pack, it bought Bharti Airtel and Idea Cellular.

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

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