Jefferies’ Chris Wood tweaks India equity portfolio, to add investment in Bajaj Finance, trim in 2 insurance stocks
In the Greed & Fear note, Jefferies’ global head of equity strategy Christopher Wood highlighted the small tweaks he will make to the India’s long-only portfolio this week, which was launched in 2021 and includes 17 Indian stocks in total. The recent changes will involve adding investment in Bajaj Finance while trimming that in HDFC Life Insurance and ICICI Lombard General Insurance.
“Two small adjustments will be made this week to the Asia ex-Japan and India long-only portfolios. The investment in Bajaj Finance in the Asia ex-Japan long-only portfolio will be increased by one percentage point by shaving the investment in HDFC Life Insurance. Similarly, the investment in Bajaj Finance in the India long-only portfolio will also be increased by one percentage point by shaving the investment in ICICI Lombard General Insurance,” the note stated.
Jefferies‘ India long-only portfolio
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In 2021, Wood had launched India’s long-only equity portfolio that included 16 stocks such as HDFC, ICICI Bank, State Bank of India (SBI), Reliance Industries (RIL), Bajaj Finance, Tata Steel, Container Corporation of India, Maruti Suzuki among others. In June, the investment in HDFC in the India long-only equity portfolio was removed and replaced by an investment in HDFC Bank. The investment in ICICI Lombard General Insurance in the India long-only portfolio was also reduced by one percentage point with the money added to HDFC Bank.
Under financials, the equity portfolio consists investments in stocks such as ICICI Bank, HDFC, SBI, Bajaj Finance, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and CAMS.
Jefferies’ India long-only equity portfolio also has investments in real estate stocks like Godrej Properties, Century Textiles, DLF, Macrotech Developers, and other stocks include Maruti Suzuki, L&T, Jubilant FoodWorks and Container Corporation of India.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.