India's GMR Airports eyes 16-year high on Jefferies inclusion

GMR Airports (India)

14/06/2024 07:40

** Shares of GMR Airports  GMRI.NS  rise about 2.5% to 94
rupees apiece, just shy of 16-year high hit on February 20, 2024
    ** Gains after Jefferies includes the company, which
operates airports, in two of its portfolios
    ** Investment in GMRI will be introduced with a 4% weighting
in India long-only portfolio, which will be paid for by reducing
investments in ICICI Bank  ICBK.NS  and HDFC Bank  HDBK.NS  by
one pct point each - Chris Wood, global head of equity strategy,
Jefferies
    ** Adds, investment in Axis Bank  AXBK.NS  will be trimmed
by two pct points
    ** GMRI will also be introduced in Jefferies Asia ex-Japan
long-only portfolio, while investment in HDFC Bank will be
removed
    ** Stock among top gainers in Nifty mid-cap 100 index
 .NIFMDCP100 , which has risen 0.7% to hit record high for
fourth consecutive session - LSEG data
 
   
    
    

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India themes and stocks in Jefferies Asia ex-Japan long-only
portfolio    https://reut.rs/3xhzewG
Composition of Jefferies' India long-only portfolio    https://reut.rs/3VqdFlx
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))