UTI MF churns its Sensex portfolio

Unit Trust of India (UTI) Mutual Fund booked profits in 21 blue chip stocks in the Sensex basket in May. The fund utilised sell proceeds of these stocks to purchase six stocks in the Sensex basket.

It sold blue chip scrips such as Hindustan Lever, MTNL, IPCL, Reliance Industries, TCS, State Bank of India and ITC. The fund purchased Bharti Tele-Ventures, NTPC, HDFC, HDFC Bank and Tata Steel.

An analysis of its portfolio shows that UTI MF has subscribed to 11.92 lakh shares of Shopper's Stop by investing around Rs 45 crore. The fund picked up 1.73 lakh shares of Shringar Cinemas and over 50,000 shares of Dwarikesh Sugar.

The fund also re-entered stocks such as Rayban, Rane Holdings, Finolex Industries, Dena Bank, GPI Textiles, Subex Systems and Trent.

UTIMF, with a corpus of over 20,000 crore as on May 31, has over 60-odd equity and debt-oriented schemes under its belt. The fund booked profit in as many as 140 companies in its portfolio selling 30.4 million and buying 21.7 million shares of 69 companies, thereby making a net sell of 8.7 million shares in its equity basket.

UTI MF reduced its exposure in fast moving consumer goods (FMCG) company Hindustan Lever in May to a mere 0.07 per cent by offloading 41 lakh equity shares.

In Satyam Computer, its holding declined to 0.75 per cent from 1.07 per cent. They sold 10.45 lakh equity shares of the company after the stock rose 14 per cent during the month.

UTI MF sold equity shares of other Sensex stocks including Reliance Industries (5.15 lakh shares), Tata Consultancy Services (3.80 lakh), SBI (3.44 lakh), ITC (2.14 lakh), BHEL (1.92 lakh), Tata Motors (1.76 lakh) and Infosys Technologies (1.08 lakh).

However, UTI MF accumulated 40.92 lakh equity shares of the newly introduced Sensex stock, National Thermal Power Corporation (NTPC), in May.

It purchased 17.28 lakh shares of Bharti Tele-Ventures, 2.03 lakh shares of HDFC, 1.85 lakh shares of HDFC Bank, 1.47 lakh shares of Cipla and 1.25 lakh shares of ONGC during the month.

Among sectoral classifications, UTI MF reduced its holdings in personal care products firms by 47 per cent in May. It sold 34.53 lakh equity shares of the personal care products companies during the month.

UTI MF sold an aggregate 32.41 lakh equity shares of information technology stocks. It offloaded 15 lakh shares of pharmaceuticals, 12 lakh shares each of organic chemicals and textile cotton companies, 8 lakh shares each of petrochemicals, polymers and automobiles commercial vehicles.

It sold more than five lakh shares each in telecom, aluminium, engines and textile texturising sectors in May.

At a parallel level, it bought 43 lakh equity shares in power stocks and 34 lakh shares of banking stocks during the month. Besides, it also purchased equity shares in sectors such as bearings (6 lakh), cement and food products (5 lakh each), steel and alloys (4.4 lakh), fertilisers (3.84 lakh) and paints (2.44 lakh).