Axis Securities rejigs portfolio: Reduces weight in banking stocks, increases RIL weightage to 10% Updated : April 30, 2020 09:31 PM IST Axis Securities reduced weightage in the banking and financial to 28 percent from 36 percent earlier. Meanwhile, weight of Reliance Industries stands at 10 percent in its portfolio from 7 percent earlier. Axis Securities is 'overweight' on telecom, utilities, and pharma space; 'equal-weight' on IT and 'underweight' on staples.