The Hindu Business Line : Tata Equity Opportunities Fund

Tata Equity Opportunities Fund is an open-ended fund that sports a well-diversified portfolio with a mix of mid- and large-cap stocks. Stocks with a market capitalisation of less than Rs 5,000 crore accounted for 40 per cent of the assets as of January 2007. The fund holds 65 stocks in its portfolio, with the top ten cornering 34 per cent. A look at the changes in the portfolio during the month:

The Fund stepped up the exposure to sectors such as capital goods, IT, telecom, power, petroleum products, while media and entertainment were the new entrants. The fund pruned exposure to cement, construction, auto, pharma and auto ancillaries. Capital goods found fancy, with a significant ramp-up in the sector. The fund added to holdings in Larsen & Toubro, BHEL and Crompton Greaves while Siemens, Voltamp Transformer and Manugraph India were added afresh.

Exposure to the software sector was enhanced and holdings in Infosys Technologies increased, while the fund booked profit and exited completely from Wipro and HCL Technologies. Satyam Computer, HTMT, Tech Mahindra were the new IT entrants.

Telecom services forms 6.8 per cent of the assets. Exposure to Tulip IT increased while Reliance Communication was added afresh.

The fund accumulated KEC International while Reliance Energy and NTPC were new additions. Exposure to the petroleum sector was enhanced, with higher holdings in Reliance Industries and Rain Calcining. Media and entertainment saw additions and took up 4.6 per cent of the assets. TV-18, Sun TV, HT Media and Zee Entertainment represented the sector.

Ferrous metal stocks, riding on higher domestic consumption following brisk activity in the construction space, attracted the fund's attention. SAIL and Welspun Gujarat were the new entrants, while exposure to Usha Martin and PSL was increased. The fund pruned allocations to the cement sector. Gujarat Ambuja Cement, Grasim and ACC were pared while Century Textiles was a new entrant. The fund took a cautious stance on construction stocks and reduced exposures. Jaiprakash Industries and IVRCL underwent pruning. Ansal Properties was added.

Suresh Parthasarathy

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