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market | IST

Credit Suisse rejigs portfolio; overweight on HUL, L&T, Axis Bank, SBI

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Credit Suisse has done some changes in its model portfolio. It is heavily overweight on consumer staple stocks and big-time underweight on consumer discretionary stocks. Their top four picks are Hindustan Unilever Ltd (HUL), State Bank of India (SBI), Axis Bank and Larsen and Toubro (L&T).

Credit Suisse has done some changes in its model portfolio. It is heavily overweight on consumer staple stocks and big-time underweight on consumer discretionary stocks. Their top four picks are Hindustan Unilever Ltd (HUL), State Bank of India (SBI), Axis Bank and Larsen and Toubro (L&T).
Credit Suisse continues to be bullish on domestic sectors and hence the firm continues to be overweight on banks. Within banks, Credit Suisse likes Axis Bank, ICICI Bank and SBI.
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The brokerage house is also overweight on industrials and likes L&T, ABB and Siemens.
Credit Suisse continues to be overweight on HUL. Within fast moving consumer goods space, ITC has been replaced with Emami.
In pharmaceutical sector, the brokerage house continues to be overweight on Aurobindo Pharma and the big anti-consensus view according to the firm is underweight on IT.
In terms of other small changes, Credit Suisse has removed Ambuja Cements on the back of high valuation and Dr Reddy’s Laboratories (DRL) on the back of margin concerns.
The firm has also cut its weight on Maruti Suzuki because of EPS cuts and has added Bajaj Finance back to neutral on expectations of fintech listing.
The other small changes being, they have added Ultratech Cement; and the reopening trades are United Breweries Ltd (UBL). The firm also likes Apollo hospitals because of its digital platforms.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
To watch other videos in this series, click on the Standout Brokerage Report tab below.