Jefferies, the world’s leading brokerage firm, has made significant changes to its Asia equity portfolio from a long-term perspective. This time, HDFC Bank has again been included in the portfolio. With this, the total weightage of Indian private banks has increased to 12%.
These changes were informed in the regular note ‘Greed and Fear’ issued by Jefferies chief analyst Chris Wood. Japan’s stock market is not included in this portfolio.
Increase in weightage of HDFC Bank
Jefferies has cut shares of four Indian companies by 1% to increase weightage in HDFC Bank:
- Macrotech Developers
- Larsen & Toubro (L&T)
- ICICI Bank
- Axis Bank
Siemens added to portfolio
Jefferies has added Siemens to its portfolio with 4% weighting.
- India Long-Only Portfolio: Siemens included with 4% weightage.
- AU Small Finance Bank: Removed from the portfolio.
Indian stocks included in other brokerage portfolios
Asia Long-Only Portfolio (except Japan):
This portfolio includes many stocks of Indian companies:
- Banking Sector:
- HDFC Bank
- ICICI Bank
- Axis Bank
- SBI
- SBI Life
- Infrastructure and Industrials:
- L&T
- Siemens
- GMR Airports
- Other:
- zomato
- Godrej Properties
- Macrotech Developers
- JSW Energy
Global Long-Only Portfolio:
Indian companies also contribute to Jefferies’ global portfolio:
- zomato
- Godrej Properties
- Axis Bank
- ICICI Bank
- Larsen and Toubro
purpose of change
These changes of Jefferies have been made in view of the increasing possibilities in Indian banks and infrastructure sector. With the re-introduction of HDFC Bank and the addition of Siemens to the portfolio, Jefferies is focused on long-term growth.
