Tata Mutual Fund sells banking, telecom; buys oil&gas

Tata Mutual Fund decreased its weightage in banking & financial services, consumer non-durables and telecommunication, while enhanced its exposure in oil & gas, manufacturing and metals & mining.

Rain Commodities, IVRCL and Sterlite Technologies were the top sells, while Gujarat State Petronet, Mangalore Refinery and Hindustan Zinc were the top buys.

The study of the portfolio managed by Tata Mutual Fund for the month of February 2012 shows that, in the banking & financial services space, the fund sold SBI, Bank of Baroda and ICICI Bank and exited from GIC Housing Finance, IndusInd Bank, Central Bank of India and Allahabad Bank. However, it bought, HDFC, IDFC, Oriental Bank of Commerce and introduced Corporation Bank in the same space. (View - All Bulk Deals by Mutual Funds).

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

In the telecommunication segment, it sold Sterlite Technologies, Idea Cellular and Bharti Airtel.

On the buying side, the fund purchased Gujarat State Petronet, Mangalore Refinery & Petrochemicals, BPCL and introduced Petronet LNG in the oil & gas sector, but sold Reliance Industries, ONGC and exited Indian Oil Corporation from the same sector.

In the manufacturing space, the fund bought Bharat Electronics and Page Industries. (Check out - Which sectors are attracting Fund Managers?).

The fund bought Hindustan Zinc, Gujarat Mineral Development Corporation and Jindal Steel & Power in the metals & mining segment, but sold Hindalco Industries, Coal India and Usha Martin from the same segment.

Table of Stocks bought/ sold by Tata Mutual Funds...contd on Page 2

For more Mutual Fund Action in Market click here

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Note - The number of shares has been calculated based on the closing price of the stocks on the BSE/NSE as on the portfolio date for January-February 2012.