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Rediff.com  » Business » Fund managers find TCS, RNRL, Wipro hot

Fund managers find TCS, RNRL, Wipro hot

July 22, 2009 16:33 IST

Software exporters Wipro, Tata Consultancy Services and ADA Group firm Reliance Natural Resources are among the companies which have caught the fancy of fund managers in June, while Punjab National Bank and Indian Oil Corporation lost some flavour.

An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines.

According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.

Besides, MFs were seen adding a couple of new stocks to the portfolio.

The top new picks for equity funds includes, UCO Bank, Swaraj Mazda, Bhushan Steel and Purvankara Projects, the data compiled by Sharekhan shows.

Besides, in the mid-cap equity funds portfolio stocks of Mahindra Satyam, RNRL, Hindalco Industries and Network 18 Media caught the fancy of the MFs.

In the last month, domestic MFs have made complete exits from the portfolio of equity funds in the scrips of a host of firms, including Ansal Properties, HOEC and Wire and Wireless.

Besides, IOC, PNB, Bajaj Auto Finance and CEAT are among the mid-cap stocks where some of the funds have made a complete exit.

Some of the popular stocks which caught the fancy of investors in June include the country's most valued firm Reliance Industries, largest lender State Bank of India and private sector ICICI Bank.

Besides, Bharti Airtel, Infosys Technologies, Financial Technologies and pharma firm Lupin have been included among the popular stocks in mid-cap funds, according to Sharekhan.

According to the Mutual Fund Monthly Performance Report of Reliance Money the fund houses have increased their exposure in companies like Essar Oil, RNRL, Tata Communications and Infosys.

Besides, the report noted that the companies in which the MFs have decreased their exposure include Adlabs, Hindalco Industries, ITC and Sun Pharmaceutical.

Besides, the 'fresh entrants' in the mutual fund buying list as compiled by Reliance Money include Allcargo Global, Ahluwalia Contracts and Swaraj Mazda.

At the end of June, the combined average of Assets Under Management of the 35 fund houses in the country increased by Rs 31,863.31 crore (Rs 318.63 billion) or 5 per cent to Rs 6,70,993.13 crore (Rs 6,709.93 billion) which analysts believe was mainly on the back of increased inflows into fixed-income schemes.

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