India's HDFC Bank drops on CLSA portfolio exit, Tata Motors leads gains

Britannia Industries

03/01/2025 06:40

** HDFC Bank  HDBK.NS  down 1.8%; CLSA drops India's largest
private lender from its local portfolio in 2025 strategy review
    ** CLSA says removal comes ahead of potential rate cuts
    ** CLSA also cuts "overweight" stance on banks, but stays
"overweight" on commodities and insurance
    ** It adds Tata Motors  TAMO.NS , Britannia  BRIT.NS , NTPC
 NTPC.NS  and Nestle India  NEST.NS 
    ** Among them, TAMO gains most with a 4% jump, while BRIT's
0.8% rise is the least
    ** CLSA says the added stocks are at least 20% off their
52-weeks highs, help shield from macro turbulence ahead of Trump
returning to power in US

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))