ITC, Idea Cellular, Tata Motors top sells: Tata Mutual Fund

Tata Mutual Fund has slashed its exposure in banking & financial services, engineering & capital goods and tobacco space, while increased its weightage in pharmaceuticals, metal & mining and cement & construction space.

ITC, Idea Cellular and Tata Motors were the top sells, while IVRCL, Tata Motors (DVR) and Jaiprakash Associates were the top buys.

The study of the portfolio managed by Tata Mutual Fund for the month of November 2011 shows that, in the banking & financial services space, the fund sold SBI, Bank of Baroda and Punjab National Bank. However, it bought HDFC, Rural Electrification Corporation and Power Finance Corporation. It also introduced IndusInd Bank in the same space.

It sold Cummins India, KEC International and Siemens in the engineering & capital goods segment, while it purchased BEML, L&T and BHEL. (View - All Bulk Deals by Mutual Funds).

The fund sold ITC in the tobacco space.

In the pharmaceuticals pack, the fund bought Cipla, Lupin and Divis Laboratories. But it sold Pfizer, Unichem Laboratories and also exited Torrent Pharmaceuticals from the same space.

It purchased Gujarat Mineral Development Corporation, Coal India and Hindalco Industries in the metal & mining segment. However, it sold Sterlite Industries (India) and Usha Martin. (Check out - Which sectors are attracting Fund Managers?)

In the cement & construction sector, the fund bought Shree Cements, IVRCL and Jaiprakash Associates, while it sold NCC and Sadbhav Engineering.

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

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