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| Infra, realty firms find favour with fund managers in May |
| Press Trust of India / New Delhi Jun 29, 2009, 16:13 IST |
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Telecom major Bharti Airtel, wind power major Suzlon Energy and real estate firms DLF and Unitech, have emerged as favourite stocks for domestic mutual funds in May, while Satyam Computer and ITC India are among those which have lost some flavour.
An analysis of buy and sell transactions by mutual funds in May showed that the fund houses purchased stocks from sectors such as infrastructure, housing and technology while offloaded shares of pharmaceuticals, oil and gas and banking sectors.
According to brokerage firm Sharekhan, Bharti Airtel, Unitech, Indiabulls Real Estate, power utility NTPC and Reliance Petroleum figured among the favorite picks by the equity funds in May.
Besides, MFs were also seen adding a couple of new stocks to the portfolio. The top new picks for equity funds includes Essar Oil, Indiabulls Securities, Parsvnath Developers, State Bank of Mysore, data complied by Sharekhan showed.
As per the Mutual Fund Monthly Performance Report of Reliance Money, the fund houses have decreased their exposure in companies like Glaxo SmithKline Pharmaceuticals, Sun Pharmaceuticals, Glenmark Pharma, Cipla, Nestle India, Bajaj Auto.
The report further noted that the companies in which the MFs have decreased their exposure include JSW Steel, Bajaj Finserv, Sun TV Network and Rashtriya Chemicals & Fertilisers.
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