Jefferies’ Chris Wood bullish on Banks & NBFCs: Check changes to market veteran’s India Long-Only portfolio

Chris Wood, Jefferies, India Long-Only Portfolio: The global market veteran Chris Wood, who is Global Head of Equity Strategy at Jefferies, has reshuffled his India Long-Only Portfolio as the recent report of Greed & Fear released by the Jefferies mentioned and the same has been analysed by the Zee Business research team.

According to the report, the market expert, whose portfolio is keenly followed by investors across the world, including India, has seen the weightage in bank and NBFC (non-banking finance company) increased to 43 per cent in the recent shuffle.

 

 

 

 

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SBI saw maximum traction among this rejig as Wood raised his stake in the public lender to 2 per cent, while he trimmed around a 1 per cent stake in Bajaj Finance. Shares of former has jumped over 31 per cent year-to-date (YTD), whereas the latter's share price slipped nearly 8 per cent YTD.

Wood replaced Domino’s owner Jubilant FoodWorks with Adani Ports and the total weightage in the latter company of the market veteran now stands at 4 per cent. Similarly, he cut stakes in Godrej Properties by 1 per cent, while raised in Macrotech and DLF by 2 and 1 per cent, respectively.

 

 

 

 

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Shares of Jubilant Foods have cracked more than 24 per cent YTD, while Adani Ports' share price jumped over 21 per cent during the same period. Godrej Properties' stock price fell by around 29 per cent, similarly, Macrotech shares dipped by 12 per cent, while DLF shares grew by 6 per cent YTD.

Chris Wood also cut stakes in Century Textiles by 1 per cent in the recent reshuffle. The stock of the textile company has declined by over 12 per cent YTD.

According to the Greed & Fear report of Jefferies, the other stocks from Indian markets that are in Chris Wood’s portfolio are Reliance Industries (6% weightage), ICICI Prudential (5% weightage), ICICI Lombard (4% weightage), ICICI Bank (5% weightage), HDFC Bank (6% weightage) and Larsen and Toubro (4% weightage).