Tata Power, Hindalco, Andhra Bank top buys: Birla Sun Life

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Birla Sun Life Asset Management Company has increased its weightage in oil and gas, food & beverages and cement & construction sector. However, it decreased its weightage in the banking & financial services, information technology and automotive space.

Jaiprakash Power Ventures, Tech Mahindra and Jindal Steel & Power were the top buys, while Tata Power Company, Hindalco Industries and Andhra Bank were the top sells by the fund.

The study of Birla Sun Life Asset Management Company for the quarter of January-March 2015 shows that in the oil and gas space the fund purchased Reliance Industries, Indian Oil Corporation, Hindustan Petroleum Corporation and introduced Mangalore Refinery and Chennai Petroleum Corporation. However, it sold Bharat Petroleum Corporation, Cairn India and exited from Petronet LNG and Indraprastha Gas.

In the food & beverages pack, the fund bought United Spirits and introduced GlaxoSmithKline Consumer Healthcare and Tata Coffee. While, it sold Britannia Industries, Nestle India and Heritage Foods in the same pack and exited from Tata Global Beverage.

In the cement & construction space the fund bought HSIL, UltraTech Cement, ACC and introduced Sanghi Industries and Ashoka Buildcon. However it sold Shree Cements, J. K. Cement and Ambuja Cements. (View - All Bulk Deals by Mutual Funds)

In the banking & financial services segment, the fund sold ICICI Bank, HDFC and Kotak Mahindra Bank. It also exited from Andhra Bank, Power Finance Corporation and Syndicate Bank. Meanwhile it purchased Axis Bank, HDFC Bank and Cholamandalam Investment and introduced Dewan Housing Finance Corporation and Capital First.

In the information technology pack the house sold Tata Consultancy Services, Tech Mahindra and HCL Technologies, while on the buy side the fund only bought Wipro.

In the automotive space, the fund sold Sundaram-Clayton, Bosch and Tata Motors. However the house bought Eicher Motors, Maruti Suzuki India and Hero Motocorp.

Table of Stocks bought/ sold by Birla Sun Life Asset Management...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 Jan-Mar 2015.

Posted by Haresh Gala

Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com