SBI Mutual Fund buys utilities, engg, IT; sells cement

SBI Funds Management enhanced its exposure to utilities, engineering & capital goods and information technology sectors, while decreased to cement & construction, metals & mining and banking & financial services sectors.

NTPC, Orient Paper & Industries and Power Grid Corporation were the top buys while Idea Cellular, IDFC and Jaiprakash Associates were the top sells.

The study on the fund for the month on June 2009 showed that in the utilities space, it bought NTPC, Power Grid, Reliance Power and Tata Power. 
It purchased Crompton Greaves, Larsen and Toubro and BEML in the engineering & capital goods sector. However, it sold Praj Industries, Siemens, Elecon Engineering Company and exited Mundra Port.  (View - All Bulk Deals by Mutual Funds)

In the information technology pack, it introduced NIIT and bought HCL Technologies, Tech Mahindra, Infosys Technologies. But it sold Tanla Solutions, 3i Infotech and Tata Elxsi.

The selling was seen in the cement & construction space wherein it sold Jaiprakash Associates, Hindustan Construction, GMR Infrastructure and exited Gammon India, while it purchased Shree Cements, Ambuja Cements, Nagarjuna Construction and introduced IRB Infrastructure Developers, Prism Cement. (Check out - Which sectors are attracting Fund Managers?)

In the metals & mining segment, it sold Tata Steel, Welspun Gujarat, SAIL and exited Man Industries. However, it bought Jindal Steel, Hindalco Industries, National Aluminium Company and introduced JSW Steel.

In the banking & financial services sector, it sold Axis Bank, IDFC and SBI but it introduced Bajaj Holdings & Investment and bought HDFC, Rural Electrification Corporation and Mahindra & Mahindra Financial Services.

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

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