Now Reading: Jefferies drops HDFC Bank, adds MCX and Bajaj Finance in India portfolio
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Jefferies drops HDFC Bank, adds MCX and Bajaj Finance in India portfolio
Jefferies drops HDFC Bank, adds MCX and Bajaj Finance in India portfolio
Jefferies has removed HDFC Bank, PolicyBazaar and REC from its India portfolio, replacing them with MCX, Lenskart and Bajaj Finance. The changes come as global equity strategist Christopher Wood, who manages Jefferies'…
The Story in Brief
Jefferies has removed HDFC Bank, PolicyBazaar and REC from its India portfolio, replacing them with MCX, Lenskart and Bajaj Finance. The changes come as global equity strategist Christopher Wood, who manages Jefferies' Asia ex-Japan portfolio, continues to bet on India as the region's standout market.
The portfolio reshuffle reflects a shift towards companies with strong growth potential in financial services and commodities. Bajaj Finance returns after a gap, while MCX benefits from rising volumes in commodity derivatives. Lenskart, a private firm, is a new addition. Wood has consistently held an overweight position on India.
The Indian Opinion
Some claim Jefferies' reshuffle signals a loss of faith in HDFC Bank. That is a lazy read. The move is tactical, not structural. HDFC Bank remains a strong bet. Christopher Wood is simply rotating into newer stories like MCX and Bajaj Finance. The real test will be the next quarterly earnings. If HDFC Bank's numbers hold up, the noise around this switch will fade.
Source: ndtvprofit.com
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