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| HDFC Top 100 Fund picks IT, auto; sells banking, engg. |
| Posted On:
2008-09-16 |
HDFC Top 100 Fund has increased its exposure to IT, auto, consumer non-durable, tobacco, metal, oil & gas, pharma and media space. However, it decreased its weightage to banking, engineering, cement, telecom and real estate sectors. (View - What is HDFC Top 100 Fund buying / selling?)In the IT space, the scheme bought 1.18 lakh shares of TCS, 1.55 lakh shares of Infosys Technologies and introduced Satyam Computer Services.It has introduced Tata Motors, Hero Honda Motors and purchased over 2 lakh shares of Maruti Suzuki in the auto space.In the consumer non- durable pack, it bought 11.94 lakh shares of Hindustan Unilever, in the tobacco pack, it introduced ITC and in the metal pack it bought 1.21 lakh shares of Hindustan Zinc.The scheme has purchased GAIL India, Reliance Industries, and ONGC but sold Cairn India and 2.41 lakh shares of IOC in the oil & gas pack.In the pharma sector, it has introduced Ranbaxy Laboratories and bought GlaxoSmithKline Pharmaceuticals, Glenmark Pharma. However, it sold Cipla and Dr Reddys Laboratories.In the media pack, it bought Zee Entertainment Enterprises and sold Sun TV Network.The scheme sold SBI, HDFC Bank, HDFC and exited Reliance Capital, ICICI Bank, Bank Of India and Power Finance Corporation in the banking sector. However, it introduced Bajaj Holdings & Investment, Kotak Mahindra Bank and bought 1 lakh shares of Punjab National Bank and 2.61 lakh shares of Axis Bank.In the engineering pack, it sold BHEL and exited L&T, Suzlon Energy but it purchased ABB and 4.75 lakh shares of Crompton Greaves.In the cement space, it exited Jaiprakash Associates. It sold Bharti Airtel and 3.65 lakh shares of Idea Cellular in the telecom pack. It also exited DLF in the real estate lot and sold Tata Power Company in the utilities pack.HUL, Infosys and Bharti Airtel were the top stocks held by the scheme in August. Banking (10.61%), Technology (10.36%) and Pharma (9.42%%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by HDFC Top 100 Fund).The equity exposure of the scheme has increased from 74.68% to 75.04%. The cash has increased to 9.27% from 8.79%. The total assets managed by the scheme were Rs 999.66 crore as on August 31, 2008.
Over the last one-year, HDFC Top 100 Fund has yielded 1% returns as against -6.47% yielded by its benchmark BSE 100 as on September 12, 2008
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