Moneycontrol » News » Mutual Funds » Analysis

Kotak Mahindra buys pharma, cement; drops metal, auto

Published on Sat, Feb 13, 2010 at 08:41 | Source : Moneycontrol.com

Updated at Sat, Feb 13, 2010 at 10:31

38704 Investors following Lanco Infratech. Share this News with them.

Share on Tumblr

Kotak Mahindra buys pharma, cement; drops metal, auto

Nifty

BSE | NSE 29/05/12

Are Mutual Funds betting on Nifty?

Other Stocks in this news

Kotak Mahindra Asset Management increased its investments in pharmaceutical, cement & construction and food & beverages sectors. However, it pared its exposure to metals & mining, consumer non-durables and automotive segments.

Lanco Infratech, Petronet LNG and Usha Martin were the top buys, while GMR Infra, Hindalco Industries and Yes Bank were the top sells.

A study of Kotak Mahindra Asset Mgmt portfolio for the month of January 2010 showed that in the pharmaceutical space, the fund introduced Sun Pharmaceuticals and GlaxoSmithKline Pharmaceuticals. It bought Lupin, Cadila Healthcare and Torrent Pharmaceuticals. However, it sold Dr Reddy's Labs, Cipla and Divis Labs in the space. (View - All Bulk Deals by Mutual Funds).

In cement & construction space, the fund introduced Jaiprakash Associates, Lanco Infratech and IVRCL Infra. It bought Patel Engineering, Hindustan Construction Company and Shree Cements in the same space. But it exited from GMR Infra.

In the food % beverages pack, it introduced Dhampur Sugar Mills, United Spirits, Zydus Wellness and Tata Tea. It also purchased Balrampur Chini Mills and Bajaj Hindusthan. While it sold, GSK Consumer Healthcare and Shree Renuka Sugars. (Check out - Which sectors are attracting Fund Managers?)

The selling was seen in the metals & mining space, where the fund exited from Jindal Steel, Hindalco Industries and Maharashtra Seamless. It sold Tata Steel, Sesa Goa and Sterlite Industries, while it bought Bhushan Steel, Usha Martin and Hindustan Zinc.

In the consumer non-durables sector, it sold Hindustan Unilever and introduced Godrej Consumer Products.

In automotive segment, the fund sold Mahindra & Mahindra, Hero Honda Motors and Tata Motors. However, it bought Maruti Suzuki and Amara Raja Batteries. The fund introduced Exide Industries and TVS Motors in the same space.

Table of Stocks bought/ sold by Kotak Mahindra Asset Mgmt Co....contd on Page 2

For more Mutual Fund Action in Market click here