Franklin Templeton Asset Management has dropped its investments in metals & mining, information technology and chemicals sector, while enhanced its exposure in banking & financial services, cement & construction and oil & gas sector.
Apollo Tyres, Tata Motors (DVR) and India Cements were the top sells, while Dabur India, Tata Motors and Idea Cellular were the top buys.
A study of the Franklin Templeton Asset Management portfolio for the month of June 2012 showed that in the metals & mining segment the fund sold Tata Steel, SAIL and Sesa Goa but it purchased Coal India, Usha Martin and Hindalco Industries. (View - All Bulk Deals by Mutual Funds).
In the information technology sector, it sold Infosys, Oracle Financial and Wipro. However, it introduced Globsyn Technologies and Hexaware Technologies and also bought eClerx Services in the same space.
The fund sold Asian Paints, Pidilite Industries and Berger Paints in the chemical pack.
In the banking & financial services space, it bought Axis Bank, ICICI Bank, IndusInd Bank and Yes Bank. However, it sold Sundaram Finance, HDFC and HDFC Bank. The fund also exited Numero Uno Projects from the banking space. (Check out - Which sectors are attracting Fund Managers?)
The fund purchased Shree Cements, ACC and Ambuja Cements in the cement & construction sector, while sold India Cements, ILandFS Transportation Networks and Consolidated Construction Consortium.
In the oil & gas space, the fund bought ONGC, Gujarat State Petronet, Gujarat Gas and introduced Chennai Petroleum Corporation. But it sold Reliance Industries, GAIL India and Indian Oil Corporation.
Table of Stocks bought/ sold by Franklin Templeton Asset Management...contd on Page 2
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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 May-June 2012.