 Reliance Equity Adv bets on IT, oil, tobaccoPublished on Sat, Feb 07, 2009 at 11:26 | Source : Moneycontrol.com Updated at Mon, Feb 09, 2009 at 09:13 Like this story, share it with millions of investors on M3
Reliance Equity Advantage Fund increased its coverage to metal. IT, oil & gas, tobacco. However, it reduced its exposure to telecom, auto, utilities and banking sectors. (View - What is Reliance Equity Advantage Fund buying / selling?) The analysis of the scheme for the month of January 2009 shows that in the metal sector, it introduced SAIL, Sterlite Industries and bought Tata Steel. It purchased Wipro, TCS, but sold Infosys Technologies in the IT space. In the oil & gas space, Reliance Industries, ONGC, BPCL, HPCL are bought, while Cairn India is sold. In the tobacco lot, it purchased ITC. It bought Bharti Airtel, Idea Cellular in the telecom segment. However, it sold Reliance Communication. It exited Maruti Suzuki in the auto space. In the utilities lot, it purchased Reliance Infrastructure and sold NTPC. In the banking & financial sector, it bought SBI, Oracle Financial, HDFC Bank, HDFC, but sold ICICI Bank. The equity exposure of the scheme has increased from 70.28% to 72.20%. The cash exposure has decreased from 20.67% to 12.34%. The total assets managed by the scheme were Rs 1260.96 crore as on January 31, 2009. For more Mutual Fund Action in Market click here
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