Connect with us

Hi, what are you looking for?

Share Market

RIL, SBI shares in long-only India portfolio; Chris Wood wants to buy these 16 large, midcap, smallcap stocks

Financial Express - Business News, Stock Market News

Stock market, Chris WoodAlthough Chris Wood admits that with Sensex near all-time high it is certainly not a perfect time to start an Indian portfolio, he remains convinced of India’s stock market.
(Image: REUTERS)

Global equity strategist Chris Wood has launched a dedicated long-only India portfolio of 16 stocks, including marquee scrips such as Reliance Industries Ltd, HDFC, SBI and others. Christopher Wood – Jefferies’ global head of equity strategy – is banking on India’s future demand potential and resilient domestic stock markets. The ace market strategist has been overweight on India in his Asia ex-Japan portfolio since the year began; he has maintained his position during the severe second wave of Covid-19.

In his weekly GREED & fear newsletter, Chris Wood highlighted that India has always had a significant representation in his long-only Asia ex-Japan portfolio. This portfolio was launched nearly 19 years ago, but for some reason, a dedicated portfolio for India was not created. “This will now change primarily because GREED & fear would like to add more Indian stocks which is not possible in the regional long-only portfolio since the idea is that these long-only portfolios, none of which can own cash, should be reasonably concentrated,” he said.

Although Chris Wood admits that with Sensex near all-time high it is certainly not a perfect time to start an Indian portfolio, he remains convinced of India’s stock market. Among the primary bets in his new portfolio is the Real Estate space with 17% weight. “GREED & fear remains convinced that India is at the start of a new housing cycle after a seven-year downturn, after the mother of all consolidations in the developer industry, which is why there will be a 17% weighting in the property sector,” he added.

India long-only portfolio, by Chris Wood: Full list of stocks with weightage

-Reliance Industries Ltd (RIL) – 10% weight
-Oil & Natural Gas Corporation Ltd. (ONGC) – 10% weight
-ICICI Lombard General Insurance Company Ltd – 8% weight
-ICICI Bank Ltd – 7% weight
– Housing Development Finance Corporation Ltd (HDFC) – 7% weight
-Bajaj Finance Ltd – 7% weight
-ICICI Prudential Life Insurance Company Ltd – 7% weight
-Maruti Suzuki India Ltd – 5% weight
-Jubilant FoodWorks Ltd – 5% weight
-State Bank of India – 4% weight
-DLF Limited – 4% weight
-Tata Steel – 4% weight
-Godrej Properties – 8% weight
-TVS Motor Company Ltd –  5% weight
-Container Corporation of India Ltd – 4% weight
-Century Textiles & Industries Ltd – 5% weight

Other Asian markets with dedicated long-only portfolios include China and Japan. Unlike the Asia portfolio, the newly crafted India one will have 16 stocks instead of 21. Since inception the Asia portfolio is up 3,266% compared to 746% increase in MSCI’s AC Asia ex-Japan index. The portfolio has assigned 12% weightage to India against 9.8% in the MSCI index. “The portfolio is now 31% invested in India and 27% in China, with another 25% allocated to Taiwan and Korean technology. The portfolio continues to be primarily geared to the domestic demand story in Asia,” Chris Wood said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Technology

Cybercriminals Adopt the Blockchain to Broadcast confidential Messages A group of analysts from SophosLabs represents that programmers working the crypto-jacking malware, Glupteba, have been...

Technology

PUBG unban in India soon as PUBG Corp. Will The Government Of India Unban PUBG? PUBG Mobile was Ban in India, PUBG organization has...

Technology

A standard method to execute Bitcoin could be powerless against double-spending, the new examination has found. Blockchain sleuths at ZenGo, a wallet startup, have...

BlockChain News

HDD mining, also known as “storage mining”, is a process of obtaining cryptocurrency based on hard disk memory. Compared with traditional POW mining, hard...