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IDFC, Spice Comm, ICICI Bank top buys: SBI MF

Published on Thu, Aug 09, 2007 at 13:54 | Source : Moneycontrol.com

Updated at Thu, Aug 09, 2007 at 16:47

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SBI Mutual Fund increased exposure to engineering & capital goods, banking & financial services, cement & construction, metals, and telecom stocks in July. However, it has pared its holding in pharmaceuticals, manufacturing, consumer non-durables and food & beverages.

A moneycontrol study of equity portfolios of SBI mutual fund for July shows that in the engineering & capital goods sector, Kalpataru Power Transmission, KEC International and Larsen and Toubro topped the list of buys while Thermax, Crompton Greaves and Bharat Heavy Electricals topped the list on sell. It has exited Punj Lloyd. (View - All Bulk Deals by Mutual Funds)

In the banking & financial services, it has bought over 36 lakh shares of IDFC and over 11.5 lakh sahres of ICICI Bank. On the other hand it has sold over 18 lakh shares of Oriental Bank of Commerce. Union Bank of India and Punjab National Bank were also in its sell list. It exited South Indian Bank.

In the cement & construction sector, IVRCL Infrastructure was top bought stock. It has made fresh entry in DLF, HDIL, GMR Infrastructure and Simplex Infrastructures. Ambuja Cements, Lanco Infratech and India Cements were in its list of sell. It exited Parsvnath Developers.

In the metal space Tata Steel, Sterlite Industries and Mahindra Ugine topped the list of buys while Hindalco Industries and Maharashtra Seamless topped the list of sell.(Check out - Which sectors are attracting Fund Managers?)

In the telecom segment, it has made fresh entry in Spice Communications. Reliance Communications and Bharti Airtel were in its buy list while it has sold nearly 21 lakh shares of MTNL.

SBI MF reduced its exposure to pharmaceuticals, manufacturing, consumer non-durables and food & beverages. In the pharmaceuticals pack, it has sold nearly 16 lakh shares of Cipla and nearly 7 lakh shares of Ranbaxy Laboratories. Sun Pharmaceutical and Lupin were in its buy list. It introduced Sun Pharma Advanced Research Company.

In the manufacturing sector, it has sold over 35.35 lakh shares of Alok Industries and over 17.5 lakh shares of Arving Mills. Ballarpur Industries and Welspun India were also in the sell list. It exited Bombay Rayon Fashions and Suryalakshmi Cotton Mills.

In the FMCG segment, it has sold over 21.78 lakh shares of Hindustan Unilever. Bajaj Hindustan was also in its sell list. However, it has bought nearly 5 lakh shares of ITC.

IDFC, Spice Communications and ICICI Bank were top buyers while Alok Industries, Ashok Leyland and Hindustan Unilever were top seller.

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