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