Jefferies' Chris Wood launches India equity portfolio
Wood said it is not a perfect time to start an Indian portfolio since the Sensex is near an all-time high, though for that matter, so are many other stock markets.
By ET Bureau | Updated:
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Chris Wood said he remains convinced that India is at the start of a new housing cycle after a seven-year downturn.
MUMBAI: Jefferies’ global head of equity strategy Christopher Wood has launched an India long-only equity portfolio of 16 stocks which includes blue-chip stocks such as HDFC, ICICI Bank, State Bank of India, Reliance Industries, Bajaj Finance and Maruti Suzuki (India).
Other stocks that are part of this India long-only portfolio include Tata Steel, Jubilant FoodWorks, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, Oil and Natural Gas Corporation, Godrej Properties, Century Textiles, TVS Motor and Container Corporation of India. About 40% of the weightage has been given to financials, 20% to energy and 17% to real estate. Wood said it is not a perfect time to start an Indian portfolio since the Sensex is near an all-time high.
Wood said he remains convinced that India is at the start of a new housing cycle after a seven-year downturn.
The new portfolio will be domestic demand-focused but also have an exposure to energy stocks to hedge the risk of higher oil price on Indian financials and other interest rate-sensitive sectors.
