Here is a real quick analysis on how our star fund manager realigned the folios of various funds.
In HDFC Equity fund, their were no major shuffles except that exposure to IT stocks was reduced. Punj Lloyd probably gave him a SELL warning when it crossed Rs 290 levels and hence reduced holdings in it. He also sold Bharti Airtel, probably he thinks in line with Kotak Analyst who say that QoQ growth has peaked and with Spectrum crunch and no 3G services in-sight, bottomlines will be under pressure. Taken Fresh positions in ITC.
In HDFC Top-200 fund, their were quite a few new additions to the folio, Bajaj Auto, NTPC and Asian Paints. One can BUY Asian Paints and Bajaj Auto on market corrections. NTPC is a fantastic PSU but we don’t recommend it is a long term play. IT Stocks Position was reduced. Exits made in Ranbaxy, Hindustan Unilever and Colgate Palmolive.
Under HDFC Prudence fund, we saw fresh positions in Page Industries and Grindwell Norton. Substantial quantity of Shanti Gears were purchased. Reduced exposure to IT stocks.