Is Indian realty sector refurbishing finally after a long lull? Well nothing is confirmed yet but one can’t be stopped from speculating since Birla Sun Life Mutual Fund is focusing on real estate sector increasingly. As per both sociologists and industry experts, Birla group doesn’t get interested in any unless there is a substance.
It has been learnt that Birla Sun Life Mutual Fund has increased its investments in Auto, IT, and real estate but has also slashed exposure in telecom, engineering & capital goods and banking & financial sectors. It has also come to the knowledge while HDIL, PTC India and Shree Renuka Sugars were the top purchases, Suzlon Energy, Tata Chemicals and Shaw Wallace and Co. were the top sells.
Let’s concentrate on the study of the equity portfolios managed by the Birla Sun Life Mutual Fund as on July 31, 2009. It showed clearly that in the auto pack, it bought Tata Motors, Mahindra and Mahindra, Hero Honda, Maruti Suzuki, and sold Exide Industries, Apollo Tyres and Goodyear India.
In the engineering & capital goods segment, it sold Suzlon Energy, Kirloskar Oil Engines, Jyoti Structures, Punj Lloyd, Cummins India, Crompton Greaves, KEC International, Thermax, but introduced Sadbhav Engineering. Birla Sun Life Mutual Fund decreased its investment in Union Bank, Allahabad Bank, Andhra Bank, South Indian Bank, Axis Bank, Oriental Bank, ICICI Bank, Reliance Capital, City Union Bank, Network 18 Media and exited Indian Bank, IDFC, Canara Bank, Bank Of India in the banking & financial space.
Birla Sun Life Mutual Fund is a joint venture between Aditya Birla Group and Sun Life Financial. Aditya Birla Group happens to be India’s first truly multinational corporation and is a dominant player in viscose staple fiber, non-ferrous metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilizers, sponge iron, insulators, financial services, telecom, BPO and IT services.
Sun Life Financial, on the other hand, is a leading international financial services organization providing a diverse range of protection and wealth accumulation products.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.