Morgan Stanley adds more energy to India model portfolio
Reuters Market Eye - Morgan Stanley raises weightage of energy stocks in its India model portfolio to 3 percent, while cutting 1 percent each from consumer staples and discretionary stocks.
"Energy appears to be on a path of structural change whereas consumer staples face cyclical headwinds from fiscal consolidation," says Morgan Stanley in a report.
The bank also adds Bank of Baroda (BOB.NS), Crompton Greaves (CROM.NS) and Oil and Natural Gas Corp (ONGC.NS) to its focus list, while removing ACC Ltd (ACC.NS), Jubiliant Foodworks (JUBI.NS) and Cox & Kings (COKI.NS), reflecting changes in its analyst opinion.
In its mid-cap list, Morgan Stanley replaces Marico Ltd (MRCO.NS) with Dabur India (DABU.NS).
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
The BSE Sensex ended up slightly on Monday after rising to a record high for a third consecutive session as strong foreign buying continued to boost domestic-focused shares such as those of HDFC Bank, but momentum waned as exporters slumped on a stronger currency. Full Article