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Reliance MF cuts holding in IT, banking, oil & gas stocks

Published on Fri, Sep 07, 2007 at 17:16 | Source : Moneycontrol.com

Updated at Mon, Sep 10, 2007 at 14:18

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Reliance Mutual Fund has slashed its exposure to information technology, banking & financial services, oil & gas and metals in August. However it has added investments to utilities, engineering & capital goods, media & entertainment and automotive sectors.

In the information technology, Tulip IT Services, Tata Consultancy Services, Infosys Technologies topped the list of sells while Cambridge Solutions, Aptech and SSI topped the list of buys.

In the banking & financial services, it has sold over 14 lakh shares of Power Finance Corporation. State Bank of India, Yes Bank and Bank Of Baroda were also in the list of sells whereas ICICI Bank and Andhra Bank were top buys. (View - All Bulk Deals by Mutual Funds)

In the Oil & Gas, Shiv Vani Oil & Gas Exploration Services, HPCL and Reliance Industries topped the list of sells while ONGC was top bought stock.

In the metals & mining, Shri Ramrupai Balaji Steels and Sterlite Industries were in the list of to sells while Steel Authority of India, Jai Balaji Sponge and Tata Steel were in the list of top buys. (Check out - Which sectors are attracting Fund Managers?)

Reliance MF has increased its holding to utilities, engineering & capital goods, media & entertainment and automotive sector. In the utilities, Torrent Power, Reliance Energy and CESC were in the list of top buys whereas Jaiprakash Hydro-Power was the top sold stock.

In the engineering & capital goods, Punj Lloyd, Suzlon Energy and Alstom Projects topped the list of buys while Cummins India, L&T and Walchandnagar Industries topped the list of sells.

In the media & entertainment space, it has bought over 5 lakh shares of Dish TV. ETC Networks and Zee Entertainment were also in the list of buys while Jagran Prakashan was top sold stock.

In the automotive sector, Tata Motors, Maruti Udyog and Hindustan Motors topped the list of buys while Swaraj Mazda and Escorts topped the list of sells.

Among other prominent stocks, Ambuja Cements was bought while Hindustan Unilever was sold.

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