Us-64 Ups Ril Expoure, Cuts Hfcl And Sify

Unit Trust of India (UTI) has increased the exposure of its flagship US-64 to Reliance Industries (RIL) while substantially paring its exposure to Himachal Futuristic and Satyam Computer Services.

According to statistics available as of April, the scheme's holding of RIL stock is now 14.5 per cent of its portfolio, up from 12.97 per cent in March.

Its holding in Himachal Futuristic has, on the other hand, gone down from 2.13 per cent in February to 0.58 per cent last month.

The scheme seems to have made a decision to reduce its exposure to IT stocks in the last two months. Satyam Computer has also gone down from 1.29 per cent to 0.93 per cent of the scheme's portfolio.

The scheme has increased its holding in almost all old economy stocks and state sector companies, presumably believing these stocks were safer bets than those of the new economy.

During March, the scheme reduced its exposure to Reliance Petroleum from 6.33 per cent to 5.97 per cent, but this has since bounced back to more than six per cent of the portfolio as of April-end.

The scheme had divested itself of Global Tele-Systems in March, and exited SSI Ltd in April, but has stuck to its holding in ICICI Bank. Other stocks which have been exited are VSNL and BSES Ltd.