Finance & Stock Market
Chris Wood of Jefferies buys Airtel to pare stake in RIL, HDFC Bank
By - 09 Feb 2024 09:00 PM
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Jefferies' Chris Wood has tweaked his India long-only portfolio to buy Bharti Airtel, raise investments in Axis Bank and State Bank of India (SBI), and pare stakes in giants Reliance and HDFC Bank. Changes will be made in the India long-only portfolio and the global long-only portfolio. An investment in Bharti Airtel will be introduced in the India long-only portfolio with a 3% weighting. This will be paid for by shaving the investment in Reliance Industries by three percentage points," Wood said. The investment in HDFC Bank will also be reduced by two percentage points, while the investments in Axis Bank and SBI will be increased by one percentage point each, he said. In Wood's global long-only portfolio, the investment in HDFC Bank will be reduced by two percentage points, while the investments in Axis Bank and TSMC will be increased by one percentage point each. Other top bets in his India long-only equity portfolio are ICICI Bank, REC Ltd, JSW Energy, Godrej Properties, DLF, Macrotech, L&T, Adani Ports, and Zomato. |
