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Reliance Capital buys oil, metal; sells telecom, engg
Reliance Capital Asset Management enhanced its weightage in oil & gas, metals & mining and pharmaceuticals sector, while reduced its exposure in telecommunication, engineering & capital goods and food & beverages space.
Reliance Capital Asset Management enhanced its weightage in oil & gas, metals & mining and pharmaceuticals sector, while reduced its exposure in telecommunication, engineering & capital goods and food & beverages space.
A study of Reliance Capital Asset Management portfolio for the month of February 2010 showed that in the oil & gas space, it introduced Cairn India and bought HPCL, ONGC and BPCL. The fund sold Reliance Industries.
In the metals & mining space, it bought Sterlite Industries, Tata Steel and Jindal Saw, while it sold GMDC, Jindal Steel and JSL. (View - All Bulk Deals by Mutual Funds).
The fund purchased GlaxoSmithkline Pharmaceuticals, Ranbaxy Laboratories and Divis Laboratories in the pharma pack. But it sold Unichem Laboratories and Wyeth.
The selling was seen in the telecommunication, engineering & capital goods and food & beverages space. In the telecommunication sector, it sold Bharti Airtel, Reliance Communications and Sterlite Technologies, while it bought Siemens. (Check out - Which sectors are attracting Fund Managers?)
In the engineering & capital goods segment, it exited from Jyoti Structures. The fund sold Punj Lloyd, ABB and Crompton Greaves. However, it bought Larsen & Toubro, Mundra Port and KSB Pumps.
In the food & beverages space, it exited from United Breweries. The fund sold EID Parry, Balrampur Chini and Radico Khaitan, while it purchased United Spirits.
Table of Stocks bought/ sold byReliance Capital Asset Management...contd on Page 2
