SBI MF cuts exposure to IT, auto, oil & gas

SBI Mutual Fund has pared exposure to Information Technology, Automotive and Oil & Gas sectors while increased to Cement & Construction, Banking & Financial Services and Metals & Mining sectors. Bajaj Auto Finance, HPCL and Rural Electrification were top buys while Atul, Reliance Petroleum and Indiabulls Real Estate were top sells.

A study of the equity portfolios managed by the SBI Mutual Fund as on December 31, shows that in the Information Technology sector, it has sold shares of Infosys Technologies, Satyam Computer and TCS.

Selling was also seen in automotive space, wherein it offloaded Maruti Suzuki, Apollo Tyres and Tata Motors. (View - All Bulk Deals by Mutual Funds)

In the Oil & Gas pack, it has cut some exposure to Reliance Industries, ONGC, BPCL and Aban Offshore. However, it has purchased HPCL.

The fund house has increased exposure to Cement & Construction, Banking & Financial Services and Metals & Mining sectors.

In the Cement & Construction space, it has bought shares of Jaiprakash Associates, HCC, Nagarjuna Construction and GMR Infrastructure while sold IVRCL Infra. (Check out - Which sectors are attracting Fund Managers?)

The fund house also increased stake in Banking & Financial Services segment. It purchased shares of SBI, ICICI Bank and IDFC. However, it sold HDFC and Kotak Mahindra Bank.

SBI Mutual Fund has raised its investment in Metals & Mining pack, as it bought Tata Steel, Welspun Gujarat and GMDC. However, it sold Sterlite Industries and Hindalco Industries, and exited JSW Steel.

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

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