HSBC MF picks metals; drops auto, oil, sugar

Exposure to auto pivotals Apollo Tyres, Maruti, and Tata Motors was shelved, while M&M was bought. The fund exited Punjab Tractors. The fund continued to sell sugar stocks Balrampur Chini, EID Parry, and Bajaj Hindustan and oil and gas stocks Reliance Industries, HPCL, and Kochi Refineries. It exited IOC, but added to its investments in ONGC.

In the banking space, fresh investments were made in IDBI, Centurion Bank, and Oriental Bank, while it exited Yes Bank, Syndicate Bank, IL&FS Investsmart, and Dena Bank. Cement major Gujarat Ambuja was introduced into the portfolio in August. It also bought Mahindra Gesco, but sold India Cements, ACC, and UltraTech Cement.

HSBC MF exited textile stocks Vardhaman Spinning and Raymond, but introduced S Kumars and Ambika Cotton. It also sold Bombay Dyeing and Indian Rayon. In the media pack, Zee, and UTV Software were sold, while NDTV was bought.

Stocks in the information technology space were re-aligned. HCL Infosystems was the top sell with over 8.4 lakh shares sold, while Patni Computer was the top buy. Geometric Software was dumped.

Among other prominent trades, fresh investments were made in BOC India, Aarti Industries, Blue Star, Ruchi Soya, Alembic, and Hindustan Lever, while it exited Crompton Greaves, and Ind-Swift Laboratories.