Kotak Mutual Fund has increased its exposure in oil & gas, information technology and utilities sector. However, it reduced its investments in banking & financial services, media & entertainment and food & beverages space.
Power Grid Corporation, Sintex India and Sterlite Industries were top buys while IFCI, Orient Paper & Industries and Zee Entertainment were top sells by the fund.
The study of Kotak Mahindra Asset Management for the month of January 2011 showed that in the oil & gas space, it bought Reliance Industries, IOC and Petronet LNG. But it sold BPCL and exited Oil India.
In the information technology pack, the fund purchased HCL Technologies, Wipro and Mphasis. It also introduced Tech Mahindra. However, it sold Oracle Financial Services Software and TCS. It bought Power Grid and NTPC in the utilities space.
In the banking & financial services sector, it exited Dena Bank, United Bank of India, Indian Bank and IFCI. It also sold ICICI Bank, Power Finance Corporation and Bajaj Finance in the same space. But it bought HDFC Bank, HDFC and IndusInd Bank.
It sold Zee Entertainment Enterprises, Hathway Cable and Jagran Prakashan in the media & entertainment pack, while it purchased HT Media and Sun TV Network in the same space.
In the food & beverages space, the fund sold Balrampur Chini Mills, Shree Renuka Sugars and EID Parry. But it bought GlaxoSmithKline Consumer Healthcare.
Source: http://www.moneycontrol.com/news/mf-analysis/power-grid-sintex-india-sterlite-ind-top-picks-kotak-mf_521895.html
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