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Sep 09, 2005, 01.00 PM IST
HSBC MF continued to sell oil, auto, sugar, and textile stocks in August but bought metals. S Kumars, IDBI were the top buys, while Yes Bank, and HCL Infosystems were its top sells.
HSBC Mutual Fund added to its investments in the metal space in August, but continued to pare exposure to auto, oil and sugar stocks. Banking and cement stocks too weighed heavy on its sell list, while holdings in the manufacturing sector were re-aligned.
A study of equity portfolios of HSBC mutual fund for the month of August shows that Hindalco, Jindal Stainless, Welspun Gujarat, JSW Steel, and Jindal Steel were bought. Fresh investments were made in Usha Martin, while Tisco, Sterlite Industries, and MUSCO were sold. (Also read - HSBC Equity picks IDFC; dumps Syndicate Bank)
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.
Tags: HSBC Mutual Fund, Yes Bank, Syndicate Bank, IL&FS Investsmart, Vardhaman Spinning , Hindalco, Jindal Stainless, Welspun Gujarat, JSW Steel, Jindal Steel, Tisco, Sterlite Industries
May 24 2013, 16:42
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May 23 2013, 09:33
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