Homemarket Newsstocks News

Jefferies’ Christopher Wood adds Macrotech to India portfolio but removes Tata Steel

Jefferies’ Christopher Wood adds Macrotech to India portfolio but removes Tata Steel

Jefferies’ Christopher Wood adds Macrotech to India portfolio but removes Tata Steel
Profile image

By CNBCTV18.com May 20, 2022 10:38:41 AM IST (Published)

Jefferies' Chris Wood said the brokerage will remove investment in Tata Steel and introduce property developer Macrotech Developers (Lodha) and financial services firm Computer Age Management Services (CAMS). It will also reduce the weight of Godrej Properties. Macrotech will now have a weightage of four percent in the portfolio and CAMS of three percent. 

Jefferies has decided to introduce property developer Macrotech Developers (Lodha) and financial services firm Computer Age Management Services (CAMS) to its India Long Only portfolio, according to Christopher Wood, Global Head of Equity Strategy at Jefferies. 

Recommended Articles

View All

It will remove Tata group giant Tata Steel from the portfolio, the veteran fund manager said.
Macrotech will now have a weightage of four percent in the portfolio and CAMS of three percent. 
Chris Wood, as he is widely known, also said that the changes increase the weightage of financial services in the equity portfolio by three percent and that of real estate by one percent. 
Wood also said the investment in Godrej Properties will be reduced by three percentage points to five percent.
The most important issue for the markets in 2022 remains whether and when the Fed will adjust its language, which would in turn be a sign of a change in policy "just as the dropping of the word 'transitory' was in late November 2021", Wood wrote in his "GREED & fear" report — his weekly notes to investors.
ALSO READ:
"Such a development will happen at some point this year, with the timing dictated as much by market action as by the data. Still if GREED & fear had to guess at the timing it would be late third quarter given the growing proximity of the mid-term elections by then," he added.
Here's what the brokerage's India long only portfolio looks like:
StockWeightage (%)
ICICI Bank7
Housing Development Finance Corp (HDFC)7
State Bank of India (SBI)4
Bajaj Finance7
ICICI Prudential Life Insurance7
ICICI Lombard General8
CAMS3
Reliance Industries10
Oil & Natural Gas Corp (ONGC)10
Godrej Properties5
Century Textiles5
DLF4
Macrotech Developers4
Maruti Suzuki5
Larsen & Toubro (L&T)5
Jubilant FoodWorks5
Container Corporation of India (Concor)4
 
 
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng