The Hindu Business Line : Tata Equity Opportunities

Tata Equity Opportunities Fund aims at providing regular income and possible capital appreciation. Its strategy is to capitalise on opportunities offered by the equity market. We take a look at the churn in its portfolio between October 2005 and January 2006.

Tata Equity Opportunities had about 60 stocks in its portfolio as of January. Industrial capital goods, software and construction appeared in the fund's top slots and accounted for close to 40 per cent of the net assets. In the engineering and construction space, Jaiprakash Associates, Larsen & Toubro and Punj Lloyd made an entry into the portfolio over the above four-month period. Shares of Bharat Earth Movers, Crompton Greaves and Bharat Bijlee were also accumulated. The fund, however, reduced exposure to IVRCL Infrastructure & Projects.

HCL Technologies and MPhasis BFL were added to the software basket taking the total weight of the sector in the portfolio to 14 per cent. The fund appeared to have taken a cautious position on pharma stocks. Frontline pharma stock, Ranbaxy Laboratories made an exit. Pfizer and Lupin also followed suit. Dishman Pharmaceuticals was an exception as the fund accumulated the stock.

Positive market sentiment for commodity stocks such as sugar and tea may have prompted the fund to buy into these sectors.

Bajaj Hindusthan, Dwarikesh Sugar Industries and Williamson Tea Assam were added. Exposure to Tata Tea was also enhanced.

NTPC, Maruti Udyog and ONGC were some the stocks that evinced buying interest and made a fresh entry into the portfolio.

Indian Petrochemicals Corporation, Sesa Goa, State Bank of India and Alok Industries were some of the stocks that lost favour and were sold.

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