HDFC MF bearish on engg, cement & const, chemical

HDFC Mutual Fund has pared exposure to Engineering & Capital Goods, Cement & Construction and Chemicals sectors while increased to Oil & Gas, Information Technology and Pharmaceuticals sectors. Hindustan Unilever, Dabur India and Reliance Industries were top buys while Exide Industries, Crompton Greaves and IRB Infrastructure were top sells.

A study of the equity portfolios managed by the HDFC Mutual Fund as on November 30, shows that in the Engineering & Capital Goods sector, it has sold shares of Crompton Greaves, Punj Lloyd, Siemens, Thermax, Sadbhav Engineering and L&T. The fund house exited Engineers India, Alfa Laval, Titagarh Industries, Atlas Copco, Ingersoll Rand, Ador Welding, Kalindee Rail Nirman, NRB Bearings and Manugraph Industries. However, it has bought BHEL.

Selling was also seen in Cement & Construction, wherein it offloaded IRB Infrastructure and Maytas Infra. It sold out complete stake in Gammon India, KCP and Consolidated Construction. (View - All Bulk Deals by Mutual Funds)

In the Chemicals pack, it has cut exposure to United Phosphorous, Solar Explosives, Pidilite Industries and Asian Paints. It exited Castrol India. However, it has purchased Coromandel Fertilisers.

In the Oil & Gas space, it has bought Reliance Industries, BPCL and HPCL while sold ONGC.

The fund house also increased exposure to Information Technology segment. It purchased shares of Infosys Technologies, Wipro and TCS. However, it sold Satyam Computer and exited Geometric. (Check out - Which sectors are attracting Fund Managers?)

Reliance Mutual Fund has raised its investment in Pharmaceuticals pack, as it bought Dr Reddys Labs, Divis Labs, Glaxo Pharma and Wyeth. However, it sold Aventis Pharma, Ipca Labs and Ranbaxy Labs, and exited Suven Life Sciences.

Table of Stocks bought/ sold by HDFC Mutual Fund ...contd on Page 2

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