 ICICI MF picks utilities, IT, oil; drops auto, metalPublished on Tue, Jul 14, 2009 at 17:25 | Source : Moneycontrol.com Updated at Tue, Jul 14, 2009 at 17:49 Like this story, share it with millions of investors on M3
ICICI Mutual Fund increased its weightage in utilities, IT and oil & gas space while decreased its exposure to auto, metal and consumer non-durable sectors. NTPC, Reliance Petroleum, Wipro were the top buys. However, Hindustan Unilever, Orient Paper and ITC were the top sells. The study of the ICICI Mutual Fund portfolio showed that in the utilities sector, it bought NTPC, Tata Power and Webel SL Energy Systems, but it sold CESC, Power Grid and Reliance Power. (View - All Bulk Deals by Mutual Funds) The scheme augmented its investment in Wipro, Infotech Enterpreices, eClerx Services, Megasoft and introduced Mphasis in the IT space. Buying interest was seen in the oil & gas space, where it bought Cairn India, Reliance Industries, ONGC, HPCL, BPCL. (Check out - Which sectors are attracting Fund Managers?) It sold Exide Industries, Tata Motors and Hero Honda Motors, Sundaram-Clayton in the auto segment. But it bought Apollo Tyres, Ceat and India Nippon Electricals. In the metal lot, it sold SAIL, Jindal Steel and NALCO, while bought Usha Martin, Kirloskar Ferrous Industries, Sterlite Industries (India), Kalyani Steels and introduced Sesa Goa. Selling was seen in the consumer non durable, where it sold Hindustan Unilever and purchased Marico. Table of Stocks bought/ sold by ICICI Mutual Fund ...contd on Page 2 For more Mutual Fund Action in Market click here
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