 Reliance Capital buys media, utilities; sells teelcom, enggPublished on Wed, Nov 11, 2009 at 12:41 | Source : Moneycontrol.com Updated at Sat, Nov 14, 2009 at 18:12 2407 Investors following HT Media. Share this News with them.
Reliance Capital Asset Management increased its weightage in food & beverages, media & entertainment and utilities sector, while decreased its exposure in telecommunication, engineering & capital goods and oil & gas space. HT Media, Ashok Leyland and Bajaj Hindusthan were the top buys, while Apollo Tyres, Balrampur Chini Mills and Shriram Transport Finance were the top sells. A study of Reliance Capital Asset Management portfolio for the month of October 2009 showed that in the food & beverages space, it introduced In the media & entertainment space, it bought HT Media, Deccan Chronicle Holdings, while it sold Zee Entertainment Enterprises, Balaji Telefilms, Sun TV Network and exited Pritish Nandy Communications. It fund purchased Tata Power Company and NTPC in the utilities space. However, it sold Reliance Infrastructure and Torrent Power. (Check out - Which sectors are attracting Fund Managers?) The selling was seen in the telecommunication, engineering & capital goods and oil & gas space. In the telecommunication sector, it sold Bharti Airtel, Reliance Communications, Astra Microwave Products and exited Idea Cellular but it bought Sterlite Technologies. In the engineering & capital goods segment it exited Voltamp Transformers, Areva T&D and sold Punj Lloyd, BHEL. However, it bought Crompton Greaves, ABB and Cummins India. In the oil & gas space, it sold Reliance Industries, Cairn India and BPCL, while it purchased Gail, HPCL and ONGC. Table of Stocks bought/ sold by Reliance Capital Asset Management...contd on Page 2 For more Mutual Fund Action in Market click here
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