Jefferies' Wood adds SBI, JSW Energy to India long portfolio; shares up
22/09/2023 05:42
** Jefferies' head of global equity strategy Christopher
Wood rejigs India long-only portfolio, adds State Bank of India
SBI.NS and JSW Energy JSWE.NS with weightage of 4% each
** Shares of SBI rise as much as 2.2%, in line with broader
public sector bank .NIFTYPSU rally, before cutting some gains;
JSWE climbs 2.7%
** Container Corp CCRI.NS removed from portfolio to
include JSWE; SBI added after Wood cuts investments in ONGC
ONGC.NS by 2 pct points, HDFC Bank HDBK.NS and Bajaj Finance
BJFN.NS by one pct point each
** CCRI shares down 1.9%, HDBK down 0.5%, BJFN up 0.5%
** Investment in Sea Ltd Asia ex-Japan long-only portfolio
also removed and replaced by investment in SBI, Wood says in his
weekly newsletter GREED & fear
** Correction in India portfolio "would not suprise" given
it has outperformed MSCI India index so far this year - Wood
(Reporting by Chris Thomas in Bengaluru)
((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))