 ICICI Prudential buys banking, engg, oil; sells servicesPublished on Mon, Feb 22, 2010 at 08:31 | Source : Moneycontrol.com Updated at Mon, Feb 22, 2010 at 08:39 36918 Investors following HUL. Share this News with them.
ICICI Prudential Asset Management increased it weightage in banking & financial services, engineering & capital goods and oil & gas sectors and reduced its weightage in services, utilities and cement & construction space. Hindustan Unilever, Bharti Airtel and Cairn India were the top buys, while NHPC, NTPC and Great Eastern Shipping were the top sells. A study of the ICICI Prudential Asset Management portfolio for the month of January 2010 showed that the buying was seen in the banking & financial services, engineering & capital goods and oil & gas sectors. In the banking & financial services sector it bought HDFC Bank, ICICI Bank and HDFC. However, it sold Axis Bank, ING Vysya Bank and Punjab National Bank. (View - All Bulk Deals by Mutual Funds) In the engineering & capital goods pack, it purchased Larsen & Toubro, BHEL and Carborundum Universal. The fund sold Texmaco, Crompton Greaves and Kalpataru Power Transmission. It bought ONGC, Cairn India and Aban Offshore in the oil & gas segment. But it sold BPCL. (Check out - Which sectors are attracting Fund Managers?) The selling was seen in the services, utilities and cement & construction space. In the services space, it sold Container Corporation of India, Great Eastern Shipping and PTC India. The fund exited from Adani Enterprises. But it bought Arshiya International in the space. In the utilities sector, it sold NTPC and NHPC, and bought Tata Power Company, Reliance Infrastructure and CESC. The scheme exited from Patel Engineering and introduced MBL Infrastructures and Dalmia Cement (Bharat) in the cement & construction pack. The fund sold Ultratech Cement, Nagarjuna Construction Company and IVRCL Infra, while bought Jaiprakash Associates, Birla Corporation and Ahluwalia Contracts in the space. Table of Stocks bought/ sold by ICICI Prudential Asset Management...contd on Page 2 For more Mutual Fund Action in Market click here
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