ICICI Pru MF Slashes IT, Banking, Metal Stocks

ICICI Prudential Mutual Fund has pared exposure to information technology, banking & financial services, metals, and engineering & capital goods in July. Utilities, telecom, tobacco and cement & construction stocks weighed heavy on the MF house buy list. A study of equity portfolios of Prudential ICICI mutual fund for July shows that in the information technology, Infosys Technologies, Wipro and Satyam Computer Services topped the list of sells while HCL Technologies, Nucleus Software and Geometric Software Solutions topped the list of buys.(View - All Bulk Deals by Mutual Funds) In the banking & financial services, Andhra Bank and Union Bank of India were in the list of top sells while Punjab National Bank and ICICI Bank were in the list of top buys. It has exited Power Finance Corporation and IFCI. In the metals & mining segment, it has sold over 10.95 lakh shares of SAIL. Adhunik Metaliks and Tata Steel were also in the list of sells while Sterlite Industries and Sesa Goa topped the list of buys. It has entered into Kirloskar Ferrous Industries.