 Reliance Capital picks banking, cement; sells metalPublished on Wed, Oct 14, 2009 at 08:37 | Source : Moneycontrol.com Updated at Thu, Oct 15, 2009 at 10:13 25063 Investors following 3i Infotech. Share this News with them.
Reliance Capital Asset Management enhanced its weightage in banking & financial services, cement & construction and automotive sector, while decreased its exposure in metals & mining, food & beverages and services space. 3i Infotech, Ashok Leyland and Suzlon Energy were the top buys, while Rico Auto, Ambuja Cements and Hindalco Industries were the top sells. A study of Reliance Capital Asset Management portfolio for the month of September 2009 showed that in the banking & financial services space, it bought SBI, ICICI Bank, IDFC and introduced Reliance Capital, Yes Bank. However, it sold Indiabulls Financial Services, Rural Electrification Corporation, Axis Bank and Punjab National Bank. (View - All Bulk Deals by Mutual Funds) In the cement & construction sector, it introduced IVRCL Infrastructure, Nagarjuna Construction, Era Infra Engineering and purchased ACC, Jaiprakash Associates, Hindustan Construction Company. But it sold India Cements, UltraTech Cement, IRB Infrastructure Developers and exited Ambuja Cements. It purchased Ashok Leyland, Maruti Suzuki India, Mahindra and Mahindra and introduced Automotive Axles, Motherson Sumi Systems, Escorts in the automotive pack, while it exited Swaraj Mazda, Rico Auto and sold Tata Motors. (Check out - Which sectors are attracting Fund Managers?) In the metals & mining space, it sold Sterlite Industries (India), Hindalco Industries and Gujarat Mineral Development Corporation. However, it bought Jindal Saw, Tata Steel and introduced Welspun Gujarat Stahl Roh. The fund sold United Spirits, United Breweries, and EID Parry (India) in the food & beverages pack, while bought Radico Khaitan. In the services space, it sold PTC India, Adani Enterprises and bought Oriental Hotels. Table of Stocks bought/ sold by Reliance Mutual Fund...contd on Page 2 For more Mutual Fund Action in Market click here
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