ONGC, SBI, Tata Motors pick of mutual funds in July | business | Hindustan Times
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ONGC, SBI, Tata Motors pick of mutual funds in July

Tata Motors, ONGC, State Bank of India and Sterlite Industries are among firms in which mutual fund investments were highest in July, while the Anil Ambani group's Adlabs Films, Reliance Capital and Reliance Power blanked out, according to brokerage firm Sharekhan.

business Updated: Aug 21, 2009 17:47 IST

Tata Motors, ONGC, State Bank of India and Sterlite Industries are among firms in which mutual fund investments were highest in July, while the Anil Ambani group's Adlabs Films, Reliance Capital and Reliance Power blanked out, according to brokerage firm Sharekhan.

Analysis of buy and sell transactions by mutual funds during July shows that fund houses purchased stocks in sectors like power, software, construction and cement, and offloaded stocks of refineries, banks and pharmaceuticals.

According to Sharekhan, state-run NTPC, Tata Motors, ONGC, Bharat Forge and Emami figure among the favourite picks of equity funds in July.

Fund houses took out their investment in the portfolio of ADAG's Reliance Capital, Reliance Power, Reliance Energy Venture, Adlabs, Tata Steel, Steel Authority of India, Indian Oil Corporation, and Swaraj Mazda.

Meanwhile, they also added a few stocks to their portfolio. They include Sobha Developers, Mahindra Holidays & Resorts, IL&FS Investment Managers, the data compiled by Sharekhan show.

In the mid-cap equity funds portfolio, stocks of United Breweries, Emami, Torrent Power and Indiabulls Financial Services caught the fancy of the MFs.