ICICI Pru Infra buys Ambuja Cem, ONGC; dumps NTPC

The scheme has made huge buying into engineering and capital goods space, as it increased exposure by over 8% to 20.5%. It has bought 13.16 lakh shares of BHEL, 5.53 lakh shares of Cummins, 5.3 lakh shares of L&T, 3.25 lakh of Crompton Greaves, 2.8 lakh of Kirloskar Oil Engines, 2.6 lakh of Techno Electric, 1.65 lakh of Mundra Port, 1.14 lakh of Siemens, and 0.5 lakh each of Kalpataru Power and ABG Infra.

The weightage of oil & gas space increased by 4.9% at 14.81%, which topped the second slot. It has made fresh entry into ONGC and bought 15 lakh shares. It also has bought 4.4 lakh shares of Reliance and 2.53 lakh shares of HPCL. However, it has sold 7.7 lakh shares of Cairn India, and exited GAIL and Aban Offshore.

It has raised exposure to cement and construction sector as it has bought 9.58 lakh shares of JP Associates, 7.33 lakh shares of Nagarjuna Const, 3.5 lakh shares of Patel Engg, 1.94 lakh shares of Birla Corp and 1.07 lakh shares of BL Kashyap. The scheme also made fresh buying of 50 lakh shares and 15 lakh shares of Ambuja Cements and India Cements, respectively. However, it has exited Gammon India.

In the auto space, it has made fresh purchases of 5.72 lakh shares of M&M.

In the diversified space, it has bought 5.9 lakh shares of Kesoram, 1.4 lakh shares of Grasim, 0.9 lakh shares of Century Textiles while sold off 5.2 lakh shares of Voltas.

On the other side, ICICI Pru Infrastructure Fund has made huge sell off in the banking sector as it exited HDFC, Axis Bank, Federal Bank and SBI. It has offloaded 0.65 lakh shares of ICICI Bank while bought 1.6 lakh shares of Bank of Baroda and 0.7 lakh shares of Kotak Mahindra Bank.

In the telecom space, the scheme has pared exposure to Reliance Communications and Bharti Airtel by 5.6 lakh shares and 3.2 lakh shares, respectively. However, it has bought 1.9 lakh shares of Tata Communications and 1.7 lakh shares of Finolex Cables.

Selling was also seen in the metal segment, wherein it has offloaded 1.9 lakh shares of Sterlite and 0.85 lakh shares of Jindal Steel. It has sold off complete stake in Welspun Gujarat. However, the scheme has bought 0.74 lakh shares of SAIL, 1.3 lakh shares of Adhunik Metaliks and 16 lakh shares of Usha Martin.

There was mixed trend in the power space as it has sold over 16 lakh shares of NTPC while bought 3.29 lakh shares of Gujarat Industries Power and 0.9 lakh shares of Tata Power.

In the castings and forgings segment, it has bought 19.8 lakh shares of Electrosteel Castings and in the services space, the scheme bought 16 lakh shares of Indian Hotels.

Reliance Industries, Larsen and BHEL were the top stocks held by the scheme in April. Engineering (20.47%), Oil & Gas (14.81%) and Metals (11.71%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by ICICI Pru Infrastructure Fund).