Jefferies increases weight in Reliance, 2 others; trims weight in 3 stocks in latest model portfolio changes. See list
Jefferies has boosted its investment stance on Reliance Industries, citing appealing valuations and an outlook for upgrades. Additionally, the firm has raised its stakes in Kotak Mahindra Bank, driven by strong growth prospects. Welspun Corp is now part of the portfolio due to anticipated expansion in oil and gas infrastructures.
Jefferies, a global investment bank, has adjusted its model portfolio amid the Indian stock market's vulnerability due to rising bond yields. The bank has increased its weight in Reliance Industries, adding the stock at an appealing valuation. Reliance's share price is currently trading at 8.4 times its one-year forward EV-to-EBITDA ratio, approximately 23% below its 10-year average.
The brokerage also anticipates potential upgrades in the stock if refining margins enhance. Moreover, Jefferies has added Welspun Corporation, expecting the firm to profit from a multi-year surge in oil and gas infrastructure spending across the US and Middle East, leading to a compound annual growth rate of over 30% for EBITDA and EPS from FY26 to FY29.
Conversely, Jefferies has reduced its weight in Eicher Motors and Tower Properties due to recent declines in their respective stock prices.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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