# Jefferies drops HDFC Bank, adds MCX and Bajaj Finance

2026-08-09T09:46:15+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Jefferies has overhauled its India portfolio, removing HDFC Bank, PolicyBazaar and REC and adding Multi Commodity Exchange (MCX), eyewear retailer Lenskart and Bajaj Finance. The changes are part of its Greed & Fear note, with Christopher Wood maintaining a 12% overweight on India within Asia Pacific ex-Japan. Bajaj Finance, which Jefferies dropped in January 2024, is back after rising 49% since removal. REC, however, delivered a 228% return since it was added in December 2022. Separately, foreign portfolios turned net buyers in July after months of selling, raising hopes that the prolonged outflow cycle may be easing.

## Coverage

- ndtvprofit.com <https://www.ndtvprofit.com/markets/jefferies-swaps-hdfc-bank-for-mcx-rec-for-bajaj-finance-full-india-portfolio-changes-inside-11885486#publisher=newsstand>
- timesnownews.com <https://www.timesnownews.com/business-economy/markets/hdfc-bank-policybazaar-rec-removed-from-jefferies-india-portfolio-article-155404061>

Tags: Bajaj Finance, Christopher Wood, HDFC Bank, India portfolio, Jefferies, MCX
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