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Reliance MF bullish on banking, auto, manufacturing

Published on Thu, Aug 09, 2007 at 16:45 | Source : Moneycontrol.com

Updated at Mon, Aug 13, 2007 at 17:34

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Reliance Mutual Fund has added to its investments in the banking & financial services, utilities, automotive, manufacturing sector in July. While it pared exposure to information technology, pharmaceuticals, engineering & capital goods and media & entertainment pack.

A study of equity portfolios of Reliance mutual fund for the month of July shows that in the banking & financial services pack, IDFC, ICICI Bank, Punjab National Bank and Allahabad Bank topped the list of buys. However, Power Finance Corporation, Bank Of Baroda and Jindal South West Holdings topped the list of sells.

In the utilities pack, Jaiprakash Hydro-Power, Reliance Energy and Torrent Power topped the list of buys while GVK Power & Infrastructure was top sold stock. (View - All Bulk Deals by Mutual Funds)

In the automotive sector, it has bought over 13 lakh shares of Maruti Udyog and nearly 10 lakh shares of Escorts. Fairfield Atlas and Tata Motors topped the list of sells.

In the manufacturing segment, Pantaloon Retail, Opto Circuits India and Bombay Dyeing topped the list of buys.

Reliance MF slashed its exposure to information technology, pharmaceuticals, engineering & capital goods and media & entertainment pack. In the information technology space, Satyam Computer, HCL Technologies and Wipro were top sells while Mphasis and Infosys Technologies were top buys in its list. (Check out - Which sectors are attracting Fund Managers?)

In the pharmaceutical sector, FDC, Dabur Pharma and Dishman Pharmaceuticals topped the list of sells while Divis Laboratories, Biocon and Cipla topped the list of buys.

In the engineering & capital goods sector, Cummins India, Siemens and Areva T&D were top sells whereas Bharat Earth Movers, Alstom Projects and Petron Engineering were top buys.

In the media & entertainment space, NDTV, Television Eighteen and Entertainment Network India topped the list of sells while Balaji Telefilms and Zee News topped the list of buys.

Among other prominent trades, the fund house has introduced Subhash Projects and Marketing, DLF and HDIL. Gujarat Narmada Valley Fertilizers Company and Indian Hotels Company were in the top buy list while Oswal Chemicals and Fertilisers, Mysore Cements, Indiabulls Real Estate were in the top sell list.

Table of Stocks bought/ sold by Reliance Mutual Fund ...contd on Page 2