Kotak Mahindra MF sells engg, IT, auto; buy banking

Kotak Mahindra Mutual Fund has decreased in weightage in engineering & capital goods, information technology and automotive, while enhanced its exposure in banking & financial services, metals & mining and oil & gas space.

Voltas, Union Bank of India and Exide Industries were top sells, while Sterlite Industries (India), Sintex Industries and Mphasis were top buys by the fund.

The study of Kotak Mahindra Mutual Fund for the month of January 2012 showed that in the engineering & capital goods segment, the fund exited ABB, Engineers India and Crompton Greaves. Also it sold L&T, BHEL and Adani Ports. But it purchased Texmaco Rail and Gujarat Pipavav Port.

In the information technology space, it sold TCS, Oracle Financial, Wipro and exited from Polaris Financial Technology. However, it introduced Mphasis in the same space. (View - All Bulk Deals by Mutual Funds).

The fund sold Mahindra and Mahindra and Bajaj Auto in the automotive pack. It also exited Hero Motocorp and Exide Industries. But it purchased Motherson Sumi, Maruti Suzuki and Apollo Tyres.

The buying was seen in the banking & financial services, metals & mining and oil & gas space. In the banking & financial services sector, it bought SBI, OBC, Power Finance Corporation and IDFC. It also introduced HDFC Warrants. In the same space, it sold Union Bank of India, LIC Housing Finance and Jammu and Kashmir Bank. (Check out - Which sectors are attracting Fund Managers?)

In the metals & mining pack, it bought Sterlite Industries (India), Coal India and Tata Steel, while it sold Jindal Steel & Power.

The fund purchased Reliance Industries, Cairn India and HPCL in the oil & gas space. However, it sold BPCL, Oil India and IOC.

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

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