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ITC, NTPC, ONGC - top picks with Pru ICICI MF
Prudential ICICI MF reduced its exposure from technology, auto, metal, manufacturing, sugar, services and utilities. ITC, NTPC, 3i Infotech were top buys whereas Gujarat Industries Power, Triveni Engineering and Tata Steel were top sells stocks.
Prudential ICICI Mutual fund reduced its exposure to technology, auto, metal, manufacturing, sugar, services and utilities. However, it increased its weightage to banking, oil & gas, telecom, media and engineering stocks.
A study of equity portfolios of Prudential ICICI mutual fund for January shows that in technology, Patni Computer, Mastek were top sells. It exited from I-Flex Solution. Geometric Software, Visualsoft were top buys while it made fresh investment in 3i-infotech and Tanla Solution. (View - All Bulk Deals by Mutual Funds)
In auto sector, M&M, Exide Industries and Tata Motors were top sells whereas Appollo Tyres was the top buy. It exited from Talbros Automotive and Lokesh Machine. In metal, it sold over 19.8 lakh shares of Tata Steel. Adhunik Metaliks and Hindalco Industries were also among the stocks sold, while it exited Gallantt Metal and Tinplate Company.
Fund house exited from KG Denim in manufacturing space. Jain Irrigation, Ballarpur Industries were top sells while it bought over 11 lakh shares of Gokaldas Exports. Among sugar stocks, it sold over 23 lakh shares of Triveni Engineering. IT also sold EID Parry, Andhra Sugars, and exited Sakthi Sugars. However, it bought Rajshree Sugars.
In services pack, IBP Company was top sold stock. It exited Viceroy Hotels and GE Shipping. In utilities, it sold over 25.9 lakh shares of Gujarat Industries Power. Tata Power was also in sell list while it bought nearly 15 lakh shares of NTPC. (Check out - Which sectors are attracting Fund Managers?)
Prudential ICICI MF increased its exposure to banking, oil & gas, telecom, media and engineering stocks. In banking pack, it bought over 10.5 lakh shares of Punjab National Bank. SBI was also bought whereas ICICI Bank was top sell stock. It made investments in Canara Bank but exited Karnataka Bank and Bank of Baroda.
It bought over 11.3 lakh shares of oil and gas major ONGC, while BPCL, Aban Offshore, HPCL, and Reliance Industries were sold. In telecom, Reliance Communication and Bharti Airtel were top buys. It sold over 15 lakh shares of MTNL and also exited Aksh Optifibre.
In media space, it bought over 11.30 lakh shares of Zee Entertainment Enterprises. In engineering pack, Siemens and ABG Heavy were top buys while Cummins India and Indo Tech Transformers were the top sold stocks. It introduced Esab India but exited Carborundum Universal.
NOTE: The number of shares has been calculated based on the closing price of the stocks on the BSE/NSE as on the portfolio date for December and January.
