Christopher Wood, Jefferies’ Global Head of Equity Strategy, has added Zomato to his India and global long-only equity portfolios. The weight of the stock in the India portfolio will be 4%, with a 2% increase in REC. Zomato is replacing HDFC Life Insurance, which has been removed. Wood has also added Zomato and SBI Life Insurance to his Asia ex-Japan portfolio, removing HDFC Life Insurance and Standard Chartered. Jefferies will pay for the global long-only equity portfolio’s inclusion of Zomato by shaving off investments in Alibaba and IVZ each by 2% points.
Market Trading Guide: Maruti Suzuki, NMDC among top 6 stock recommendations for Monday
Indian equities tracking positive global cues ended higher on the last trading day of the week. Nifty at the close edged higher by 0.25% to