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HDFC Equity buys ITC, HPCL, TCS; dumps Zee
HDFC Equity Fund increased exposure to technology, telecommunication and FMCG sectors while reduced weightage to media, banking and auto sectors. The scheme raised stake in TCS, HPCL, Airtel and ITC whereas sold Zee, SBI, Tata Motors and Maruti.
HDFC Equity Fund enhanced exposure to information technology sector as it bought 3.5 lakh shares of TCS. The scheme also increased stake in telecommunication sector by purchasing 5 lakh shares of Bharti Airtel. (View - What is HDFC Equity Fund buying / selling?)
FMCG was another sector, where the scheme made huge purchases as it bought 20 lakh shares of ITC. The weightage to oil and gas sector also increased wherein it raised stake in HPCL by 6 lakh shares.
On the other hand, the major selling was happened in media sector as it sold over 1 lakh shares of Zee Telefilms. It also sold Tata Motors, Maruti Udyog and State Bank of India.
Infosys, ITC and Satyam Computer Services were the top stocks held by the scheme in October. Information Technology (20.54%), Engineering (13.82%) and Oil & Gas (13.21%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by HDFC Equity Fund).
The equity exposure of the scheme rose from 97.54% to 99.03%. The total assets managed by the scheme were Rs 3,687 crore as on October 31, 2006.
Over the last three months, HDFC Equity Fund has yielded 17.6% returns as against 18.35% yielded by its benchmark S&P CNX 500 as on November 10, 2006.
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