HomeNewsBusinessMutual FundsFederal Bank, IDFC, Kotak Bank top buys: Birla Sun Life

Federal Bank, IDFC, Kotak Bank top buys: Birla Sun Life

Federal Bank, IDFC and Kotak Mahindra Bank were the top buys, while RattanIndia Power, ING Vysya Bank and Jindal Steel & Power were the top sells by the fund.

July 20, 2015 / 12:13 IST
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Birla Sun Life Asset Management Company has increased its weightage in pharmaceuticals, engineering & capital goods and automotive sector. However, it decreased its weightage in the information technology, food & beverages and oil & gas space.

Federal BankIDFC and Kotak Mahindra Bank were the top buys, while RattanIndia PowerING Vysya Bank and Jindal Steel & Power were the top sells by the fund.

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The study of Birla Sun Life Asset Management Company for the quarter of April-June 2015 shows that in the pharmaceuticals space the fund purchased Sun Pharmaceutical Industries, Glenmark Pharma and Pfizer. However, it sold Lupin and Strides Arcolab and exited from Ranbaxy Laboratories and Unichem Laboratories.

In the engineering & capital goods pack, the fund bought Larsen and Toubro, Cummins India and IRB Infrastructure Developers and introduced MEP Infrastructure Developers. While, it sold Adani Ports, Sadbhav Engineering and Va Tech Wabag in the same pack and exited from KEC International, GMR Infrastructure and Praj Industries.