Chunk Of Uti Equity Holdings Pip Indices

About 45 per cent of the Unit Trust of India's (UTI) equity portfolio (as on October 31, 2001) has outperformed major indices in over a month.

Comprising 205 scrips, this chunk of its equity portfolio gained more than 13.4 per cent from October 31 to December 13.

The Bombay Stock Exchange Sensex recorded a 13.4 per cent growth during the period, while the National Stock Exchange's S&P CNX Nifty increased by 13.1 per cent.

The 65 schemes of the UTI have investments in 460 scrips.

The current market rally, led by information technology, pharmaceuticals, media and cement stocks, was the major trigger for the surge in the 205 stocks. As many as 34 infotech, 16 pharmaceutical, 11 media and five cement scrips feature in the list.

Sensing the market uptrend, the fund had increased holding in 90 scrips (among the 205 scrips) compared with its September 2001 portfolio.

UTI increased its holding in Larsen & Toubro (L&T) to 248 lakh shares as on October 2001 from 236 lakh shares on September 2001. The L&T scrip, which is among the top 10 holdings of UTI, has surged 29 per cent from end-October to December 14.

Similarly, in Indian Petro Chemical Ltd, its holding has increased by 13 lakh shares. The stock price has witnessed a 40 per cent spurt during the period. The holding in Television Eighteen was up by 3 lakh shares, while the scrip jumped 98 per cent on BSE.

Five of the fund's top 10 holdings -- Reliance Industries, Infosys Technologies, Hindalco, Reliance Petroleum and Larsen & Toubro -- outperformed the Sensex during the period.

Satyam Computer, Zee Telefilms, Telco, ACC and Mahindra & Mahindra were other major gainers in the UTI portfolio.

The 205 scrips had been major contributors to the fund house's corpus. The stocks collectively contributed over Rs 176 crore since September 2001 to UTI, accounting for 28 per cent to the total increase of Rs 632 crore of the 65 schemes' corpus as on October 2001.

If one assumes that the fund continues with the same equity holding, it would mean an addition of a whopping Rs 2,198 crore to its corpus at the end of October 2001.