India's ONGC, 360 One Wam gain as Jefferies adds to model portfolio

360 One Wam

16/04/2024 08:12

** India's ONGC  ONGC.NS  rises 3% and 360 One Wam  ONEW.NS 
rises 1.6% after Jefferies adds to its India model portfolio
    ** Allocates 4 pct points weight to 360 One Wam, India's
largest wealth manager, and 2.5 pct points weight to ONGC
    ** Brokerage trims weight in lenders due to margin pressures
and in cement companies due to delayed price hikes
    ** Sees 360 One Wam as an attractive capital market play
trading at a discount to other asset management companies
    ** Expects ONGC's profitability to improve due to reforms in
gas pricing and higher oil realisation in terms of price

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Jefferies India Model Portfolio    https://reut.rs/4aUf0HI
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))