What is Sundaram BNP Paribas Select Midcap Fund buying/selling?
Sundaram BNP Paribas Select Midcap fund enhanced its exposure in cement & construction, metals, engineering & capital goods, food & beverages, services, utilities, media & entertainment, conglomerates and real estate sectors. It reduced its exposure in banking & financial services, IT, chemicals, consumer non-durables, pharmaceuticals and manufacturing sector.
What is Sundaram BNP Paribas Select Midcap Fund buying/selling?
In the cement & construction sector, the scheme bought over 6 lakh shares of Hindustan Construction Company. It also entered into Maytas Infra and Nagarjuna Construction with over 5.8 lakh and 3 lakh shares respectively. However, the scheme offloaded over 9 lakh shares of Prism Cement and exited from Mahindra Gesco with nearly 3 lakh shares.
In the metals space, it entered into JSW Steel with over 1.3 lakh shares but exited from Jindal Saw by selling 2.2 lakh shares. In the engineering & capital good sector, the scheme made fresh entry into Triveni Engineering, Praj Inds, Kirloskar Electric and Indo Tech Transformers with 23.8 lakh, 4.56 lakh, 1.02 lakh and nearly1 lakh shares respectively. It also bought 1.3 lakh shares of Punj Lloyd but sold nearly 6.5 lakh shares of Cummins India.
In the food & beverages counter, it bought United Breweries Holdings. In the services space, it entered into Deccan Aviation with over 4.7 lakh shares but sold 1.17 lakh shares of Jet Airways.
In the media & entertainment sector, the scheme freshly bought nearly 2 lakh shares of Adlabs and sold over 2 lakhs shares of PVR. In the conglomerates space, the scheme entered into Adani Enterprises and Prakash Industries with 3 lakh and over 1 lakh shares respectively. Some other big names on the buy list were Mercator lines (fresh entry with over 8 lakh shares), Max India and Aditya Birla Nuvo.
On the other hand, the scheme exited from banking and finance stocks IDBI, IFCI, Indian Bank, Network 18 Fincap by selling 52 lakh, 15.5 lakh, 8 lakh and 1.8 lakh shares respectively. However, it entered into IDFC with nearly 13 lakh shares and also added nearly 1 lakh shares of Union bank. In the IT sector, it bought over 8 lakh shares of Moser Baer, 4.6 lakh shares of NIIT and entered into Spanco Telesystems and Sparsh BPO with nearly 7 lakh and 6 lakh shares respectively.
In the chemical space, it entered into Nagarjuna Fertilisers and Shasun Chemicals with over 24 lakh shares and 10 lakh shares respectively. It has also offloaded over 1 lakh shares of Gujarat Narmada Valley Fertilizers. In the consumer non–durables sector, it exited from Emami with nearly 8 lakh shares. In the pharma space it sold over 6 lakh shares of Torrent Pharmaceuticals.
Some other significant names on the sell list were Kirloskar Ferrous, Welspun Gujarat Stahl Roh, Amtek Auto, Jain Irrigation Systems, Pratibha Industries, Maharashtra Seamless and Seamec.
Welspun Gujarat, Sesa Goa and Punj Lloyd were the top stocks held by the scheme in October. Metals & mining (18.13%), cement (16.20%) and engineering (13.91%) were the top invested sectors in the scheme's portfolio. (Check out - Top stocks held by Sundaram BNP Paribas Select Midcap fund).
The equity exposure of the scheme has gone up from 96.35% to 99.12%. The total assets managed by the scheme over the month were Rs 2,139.59 crore as on October 31, 2007.
Over the last one year, Sundaram BNP Paribas Select Midcap fund has yielded 42% returns as against 43.85% yielded by its benchmark BSE Midcap as on November 7, 2007.
-SOURCE MONEY CONTROL
