Tata Motors (D), GE Ship, ITC top sells: Franklin Templeton

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Franklin Templeton Asset Management has decreased its investments in services, automotive and engineering & capital goods space, while enhanced its exposure in banking & financial services, metals & mining and pharmaceuticals.

Tata Motors (DVR), Great Eastern Shipping and ITC were the top sells, while Hindalco Industries, NHPC and HDFC Bank were the top buys.

A study of the Franklin Templeton Asset Management portfolio for the month of October 2011 showed that in the services space, the fund sold Great Eastern Shipping Company.

In the automotive segment, it sold Tata Motors, Ashok Leyland and exited Tata Motors (DVR). However, it bought Bajaj Auto, TVS Motor Company and Hero Motocorp.

The fund sold Crompton Greaves, Cummins India and BHEL in the engineering & capital goods space. However, it introduced Triveni Turbine, Thermax and purchased Reliance Industrial Infrastructure. (View - All Bulk Deals by Mutual Funds).

In the banking & financial services space, the fund bought HDFC Bank, IndusInd Bank, Mahindra & Mahindra Financial Services and Kotak Mahindra Bank. But it sold SBI, Union Bank of India, ICICI Bank and Rural Electrification Corporation. The fund also exited Reliance Capital, Bajaj Holdings & Investment and Motilal Oswal Financial Services from the same space.

The fund purchased Hindalco Industries, Coal India and Tata Steel in the metals & mining space. However, it sold Jindal Steel, Hindustan Zinc and Maharashtra Seamless. (Check out - Which sectors are attracting Fund Managers?)

In the pharmaceuticals pack, it bought Cipla, Dr Reddys Laboratories and Ipca Laboratories, while it sold Sun Pharmaceutical, Wyeth and Pfizer.

Table of Stocks bought/ sold by Franklin Templeton Asset Management ...contd on Page 2

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