Tuesday, March 10, 2009

DSP Black Rock dumps banks, metals, food & beverages


DSP Black Rock Mutual Fund has increased its exposure to information technology, automotive and engineering & capital goods sectors. However, it has decreased its coverage to banking & financial services, metals & mining and food & beverages sectors.
Idea Cellular, Sesa Goa and Chambal Fertilisers were the top buys while Tata Teleservices, Hindalco Industries and Orient Paper and Industries were the top sells.-->
A study of the equity portfolios managed by the DSP Black Rock Mutual Fund as on February 28, shows that, in the information technology pack, it bought TCS, Mphasis, Infosys Technologies, and introduced Tata Elxsi and Rolta India. However, it sold Allied Digital Services, HCL Technologies, HCL Infosystems and MIC Electronics.
In the automotive space, the fund house has purchased Maruti Suzuki India and Eicher Motors. However, it sold Tata Motors and Hero Honda Motors.
It has introduced Alstom Projects, and bought Larsen & Toubro, BEML and Siemens in the engineering & capital goods sector. However, it has exited Punj Lloyd, and sold Crompton Greaves, KEC International, Mundra Port and Kalindee Rail Nirman.
The selling was seen in the banking & financial services sector, wherein it exited Oriental Bank of Commerce, and sold HDFC Bank, ICICI Bank, SBI, Axis Bank and HDFC. However, it has introduced Bajaj Holdings & Investment.
In the metals & mining space, it has sold Hindalco Industries, Sterlite Industries, Tata Steel, and exited Hindustan Zinc. However, it has bought Sesa Goa and Jindal Steel & Power.
It has sold United Spirits, Balrampur Chini Mills and Shree Renuka Sugars in the food & beverages pack. However, it has bought Nestle India and GSK Consumer Healthcare.
Click here to see Table of Stocks bought/ sold by DSP Black Rock Mutual Fund

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