In his Greed and Fear note, Christopher Wood of Jefferies highlights the changes he has made to his India’s only long portfolio, which was launched last year, and includes a total of 17 Indian stocks. In recent changes, investment in Tata Steel has been removed while Macrotech (Lodha) and CAMS have introduced the same.
As far as India’s long-only portfolio is concerned, investing in Tata Steel While the investment in Godrej Properties will be reduced by three percentage points to 5%, the note said.
“Investment in property developer Macrotech Developers will be offered with 4% weightage. While investment in financial services company Computer Age Management Services (CAMS) will also be offered with 3% weightage,” he said.
Under financials, the equity portfolio consists of investments in stocks such as ICICI Bank, HDFC, SBI, Bajaj Finance, ICICI Prudential Life Insurance, ICICI Lombard General Insurance and CAMS.
JefferiesThe India long-only equity portfolio also has investments in real estate stocks such as Godrej Properties, Century Textiles, DLF, Macrotech Developers and other stocks include Maruti Suzuki, L&T, Jubilant Foodworks and Container Corporation of India.
Chris Wood’s only portfolio in India
| stock | weight (%) |
| ICICI Bank | 7 |
| HDFC | 7 |
| state Bank of India | 4 |
| Bajaj Finance | 7 |
| ICICI Prudential Life Insurance | 7 |
| ICICI Lombard General Insurance | 8 |
| cams | 3 |
| Reliance Industries | 10 |
| ONGC | 10 |
| Godrej Properties | 5 |
| Century Textiles | 5 |
| DLF Limited | 4 |
| Macrotech Developers | 4 |
| Maruti Suzuki India | 5 |
| Larsen And Toubro | 5 |
| Jubilant Foodworks | 5 |
| container corp of india | 4 |
Last year, Wood launched India’s only equity portfolio comprising 16 stocks like HDFC, ICICI Bank, State Bank of India (SBI), Reliance Industries (RIL), Bajaj Finance, Tata Steel, Container Corporation of India, Maruti Suzuki . among others.
Earlier this month, Chris Wood, global head of equity strategy at Jefferies, said in a note that greed and fear beckon that this is a year where investors will find their favorite Indian stocks to be among Asia’s best. Should accumulate on weakness in the long term. Structural story in terms of equity.