Reliance MF dumps JP Asso, GVK Power, Punj Lloyd

Reliance Mutual Fund has cut exposure to Engineering & Capital Goods, Pharmaceuticals and Cement & Construction segments. However, the fund house increased investment in Information Technology, Metals & Mining and Food & Beverages sectors.

Balrampur Chini Mills, Zee News and Gujarat State Fertilizers were top buys while Jaiprakash Associates, GVK Power & Infra and Punj Lloyd were top sells.

A study of the equity portfolios managed by the Reliance Mutual Fund as on January 31, shows that in the Engineering & Capital Goods space, it has sold shares of Punj Lloyd, Siemens, BHEL and Cummins India. However, it has freshly bought shares of KEC International. (View - All Bulk Deals by Mutual Funds)

In the Pharmaceuticals space, the fund house has offloaded Divis Labs, Piramal Health and Aventis Pharma while made fresh investment in Glenmark Pharma and Abbott India.

Sell-off was also seen in Cement and Construction segment, wherein it cut some exposure to Jaiprakash Associates, Rain Commodities, and exited Nagarjuna Construction and Gammon India.

The fund house has enhanced stake in Information Technology sector, as it bought TCS, HCL Technologies, Wipro and Oracle Financial. (Check out - Which sectors are attracting Fund Managers?)

In the Metals & Mining space, it has bought Sterlite Industries, SAIL, Jindal Steel & Power and Hindalco Industries while sold Tata Steel and Jindal Saw.

Buying was also seen in Food & Beverages sector, wherein it has increased investment in Triveni Engineering, Britannia Industries, EID Parry and Radico Khaitan, and freshly bought Balrampur Chini.

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

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