State Bank of India seems to be the favourite pick of fund managers. Consider this:
Of the 120 diversified and tax-planning funds as on February 28, 2005, 68 had SBI in their portfolios.
They had an average 5.12 per cent allocation to the stock with nearly a quarter of them having more than 7 per cent stake in the banking major.
40 funds had SBI in their top-5 holdings.
Infosys Technologies and BHEL follow SBI. They find a place in the portfolios of 63 funds. ONGC is the next with presence in 58 schemes, closely followed by ACC that features in 57 schemes.
Software major Infosys scores a point over SBI in terms of average allocation--funds had an average 5.40 per cent allocation to the stock as compared to 5.12 per cent in SBI. It also appears in the portfolios of 41 funds among top-five holdings.
In terms of amount invested in individual stocks, SBI again leads the chart. Of more than Rs 27,000 crore managed by diversified and tax-planning funds as on February 28, 2005, Rs 1214.8 crore was invested in SBI alone. Infosys, Reliance Industries, Grasim Industries and ACC follow SBI.
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