ICICI Pru MF bets on utilities, media, oil & gas stocks

ICICI Prudential Mutual Fund has increased its exposure to utilities, media, oil & gas, technology, services, metal and telecom stocks, while it pared exposure to FMCG, auto, manufacturing, chemicals and capital goods sectors. The fund re-aligned its holdings in the bank, cement & construction and pharmaceutical stocks.

A study of equity portfolios of ICICI Prudential mutual fund for the month of May shows that in the utilities space, it has bought over 68.26 lakh shares of NTPC. Tata Power was also in its buy list.

In the media pack, it has bought nearly 19 lakh shares of Deccan Chronicle Holdings. Zee Entertainment Enterprises and HT Media were also in its buy list while Television Eighteen was in its sell list. Its made fresh investment in Entertainment Network India.

In the oil & gas segment, it has bought over 30 lakh shares of Cairn India. ONGC was also in its list of buys while Aban Offshore and Hind Oil Exploration were in its list of sells.

In the technology space, TCS, Sasken Communication and HCL Technologies were top buys and it made fresh investment in MIC Electronics. However, Wipro Firstsource Solutions, Mastek and Satyam Computer were top sells.