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Magnum Contra buys TCS, Jet Airways, Tata Motors
SBI Magnum Contra Fund has increased weightage to technology, cement, auto and services sector. The scheme made fresh investment in TCS and Jet Airways.
SBI Magnum Contra Fund has increased weightage to technology, cement, auto and services sector. The scheme has increased investment in technology sector by making fresh investment of 2.07 lakh shares in TCS and bought 0.5 lakh shares of Infosys Technologies. (View - What is SBI Magnum Contra Fund buying/selling?)
It took fresh exposure to services sector, wherein it bought 1.34 lakh shares of Jet Airways.
Buying was also seen in auto sector, as it purchased 1.24 lakh shares of Tata Motors, 0.69 lakh shares of Maruti and 0.5 lakh shares of Mahindra and Mahindra.
In the cement sector, the scheme has bought 0.98 lakh shares of IVRCL Infrastructure.
However, SBI Magnum Contra Fund has reduced exposure to oil sector, as it sold 0.96 lakh shares of Reliance Petroleum. In the capital goods and engineering space, it offloaded 0.5 lakh shares of Larsen and Toubro.
