Jefferies Reshuffles India Long-Only Equity Portfolio, Adds HDFC Bank
30th Dec 2024
Jefferies' Changes to Asia ex-Japan Long-Only Portfolio
Global brokerage firm Jefferies has brought back HDFC Bank to its Asia ex-Japan long-only portfolio. At the same time, it has trimmed its investments in Macrotech Developers, Larsen & Toubro (L&T), ICICI Bank and Axis Bank by one percentage point each. Additionally, Jefferies has initiated an investment in Siemens with a 4% weighting, which will be paid for by removing the investment in Samsung Electronics Pref and cutting the investment in SK Hynix by one percentage point.
Jefferies' India Long-Only Equity Portfolio
Jefferies' India long-only equity portfolio comprises 22 stocks from financials, energy, real estate, infrastructure, industrials, consumer, telecom and online travel sectors. ICICI Bank, HDFC Bank, Axis Bank, State Bank of India, SBI Life Insurance, Reliance Industries, Coal India, L&T, Zomato, Bharti Airtel and MakeMyTrip are among the stocks in Jefferies' India long-only equity portfolio.
Jefferies' Outlook on Indian Stock Market
In a separate report, Jefferies projected a nearly 10% rise in the Indian stock market benchmark, Nifty 50, by the end of 2025, setting a December-end target of 26,000. Jefferies highlighted that at 20.5 times one-year forward PE (price-to-earnings), Nifty's valuation is nearly 6% above the past five-year average. It expects the domestic market to rise 10% over the next calendar year, in line with earnings growth.
Global brokerage firm Jefferies has brought back HDFC Bank to its Asia ex-Japan long-only portfolio. At the same time, it has trimmed its investments in Macrotech Developers, Larsen & Toubro (L&T), ICICI Bank and Axis Bank by one percentage point each. Additionally, Jefferies has initiated an investment in Siemens with a 4% weighting, which will be paid for by removing the investment in Samsung Electronics Pref and cutting the investment in SK Hynix by one percentage point.
Jefferies' India Long-Only Equity Portfolio
Jefferies' India long-only equity portfolio comprises 22 stocks from financials, energy, real estate, infrastructure, industrials, consumer, telecom and online travel sectors. ICICI Bank, HDFC Bank, Axis Bank, State Bank of India, SBI Life Insurance, Reliance Industries, Coal India, L&T, Zomato, Bharti Airtel and MakeMyTrip are among the stocks in Jefferies' India long-only equity portfolio.
Jefferies' Outlook on Indian Stock Market
In a separate report, Jefferies projected a nearly 10% rise in the Indian stock market benchmark, Nifty 50, by the end of 2025, setting a December-end target of 26,000. Jefferies highlighted that at 20.5 times one-year forward PE (price-to-earnings), Nifty's valuation is nearly 6% above the past five-year average. It expects the domestic market to rise 10% over the next calendar year, in line with earnings growth.