A rising interest rate is unlikely to stall recovery in India, as indicated by the latest property data, according to Christopher Woods of Jefferies.
"The latest India property data shows a continuing acceleration in activity which confirms again 'greed' & fear’s base case, namely that rising interest rates will not stall the recovery."Christopher Woods in 'Greed & Fear'
Changes In Jefferies' India Portfolio
Jefferies will tweak its India long-only portfolio by replacing Jubilant Foodworks Ltd. with Adani Ports and Special Economic Zone Ltd. with a 4% weightage.
Other tweaks also include an increase in the weight of Macrotech Developers Ltd. and DLF Ltd. by 2% and 1%, respectively, while reducing the weightage on Godrej Properties Ltd. and Century Textiles and Industries Ltd. by 1% each, Woods said in the current edition of the weekly newsletter, 'Greed & Fear'.
Jefferies' India long-only portfolio will see a 2% reduction in the weightage of Bajaj Finance Ltd. while the investment in State Bank of India will be increased by 2%.
Changes In Jefferies' Asia Portfolio
In the Asia ex-Japan long-only portfolio, Godrej Properties will be replaced by an investment in Macrotech Developers with a 6% weightage, while the investment in Bajaj Finance will be reduced by 1%.
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