Jefferies replaces SBI with SBI Life in its India long-only equity portfolio

Computer Age Management Services

27/01/2023 09:06

** Jefferies removes State Bank of India  SBI.NS  in its
India long-only portfolio and replaces it with SBI Life
Insurance  SBIL.NS , with a 6% weightage 
    ** SBI shares fall as much as 6.41%, most in 21 months, to
532.25 rupees, compared to 2.97% slide in Nifty Finance index
 .NIFTYFIN 
    ** Investment in HDFC Bank  HDBK.NS  has been raised by one
percentage point by reducing the investment in HDFC Life
Insurance
    ** The global brokerage firm has ICICI Bank  ICBK.NS , HDFC
Bank, Bajaj Finance  BJFN.NS , SBI Life, HDFC Life  HDFL.NS ,
ICICI Lombard  ICIL.NS , Computer Age Management Services
 COMU.NS  and REC  RECM.NS  in financials segment in India
long-only equity portfolio
    ** Financials account for 43% in its India long-only equity
portfolio followed by energy (20%)
    ** In his weekly GREED & fear report, Christopher Wood, the
global head of equity strategy at the brokerage, says Indian
banks are looking cheaper relative to the overall market
    ** There is widespread agreement that India remains the best
long-term equity story in Asia and emerging markets even if the
country remains at risk tactically because of the need to fund
increased positions in China, says Jefferies
    ($1 = 81.5940 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))