 Tata Mutual Fund buys bank, engg, cement; drops ITPublished on Sat, Feb 11, 2012 at 10:35 | Source : Moneycontrol.com Updated at Sat, Feb 11, 2012 at 12:24 57729 Investors following Power Grid Corp. Share this News with them.
Tata Mutual Fund has enhanced its exposure in banking & financial services, engineering & capital goods and cement & construction segment, while slashed its exposure in consumer non-durables, information technology and pharmaceuticals sector. Power Grid Corporation, Ambuja Cements and Coal India were the top buys, while KEC International, Rain Commodities and Consolidated Construction were the top sells. The study of the portfolio managed by Tata Mutual Fund for the month of January 2012 shows that, in the banking & financial services space, the fund purchased ICICI Bank, Axis Bank and HDFC Bank, while it sold HDFC, Standard Chartered PLC and exited ING Vysya Bank. (View - All Bulk Deals by Mutual Funds). In the engineering & capital goods segment, it bought Cummins India, Larsen and Toubro and Thermax. But it sold Crompton Greaves, Greaves Cotton and Gujarat Pipavav Port. The fund bought Ambuja Cements, IVRCL and Jaiprakash Associates in the cement & construction space. It also introduced Madras Cements. However, it sold Shree Cements, Rain Commodities and Consolidated Construction Consortium in the same space. (Check out - Which sectors are attracting Fund Managers?) In the consumer non-durables pack, it sold Hindustan Unilever, while it bought Colgate Palmolive (India) and Godrej Consumer Products. It introduced Bata India. The fund sold TCS, Infosys, Wipro and Oracle Financial in the information technology space. It exited Infotech Enterprises and introduced CMC. However, it purchased HCL Technologies, Polaris Financial Technology and Firstsource Solutions in the same space. In the pharmaceuticals sector, the fund sold Cadila Healthcare, Dr Reddys Laboratories and Lupin. But it purchased GlaxoSmithKline Pharma, Strides Arcolab and Cipla. Table of Stocks bought/ sold by Tata Mutual Fund...contd on Page 2 For more Mutual Fund Action in Market click here
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