Kotak MF ups exposure in IT, telecom, pharma

Kotak Mutual Fund has increased its exposure in Information Technology, Telecommunication and Pharmaceuticals sector. However, it reduced its investments in Automotive, Metals & Mining and Food & Beverages space.Power Finance Corporation, Redington (India) and Bharti Airtel were top buys whileLanco Infratech, Balrampur Chini Mills and Mercator Lines were the top sells by the fund.The study of Kotak Mahindra Asset Management for the month of May 2011 showed that in Information Technology space, the fund introduced Redington (India) and Hexaware Technologies and bought Infosys Technologies and Tata Consultancy Services. But it sold HCL Technologies and exited from Mphasis. In Telecommunication pack, the fund purchased Bharti Airtel. It bought Cipla and Sun Pharmaceutical Industries and introduced Divis Laboratories in Pharmaceuticals space. However, it sold Dr Reddys Laboratories, Torrent Pharmaceuticals, Aurobindo Pharma, Ipca Laboratories and Jubilant Life Sciences in the space.In Automotive sector, the fund sold Bajaj Auto, Tata Motors (DVR) and Mahindra and Mahindra and bought Motherson Sumi Systems and Amara Raja Batteries. It sold Tata Steel, Sterlite Industries (India) and Coal India in Metals & Mining pack, while it purchased Hindustan Zinc