February 1, 2013 / 9:34 AM / 5 years ago

Morgan Stanley adds more energy to India model portfolio

A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of Ahmedabad March 2, 2012.Amit Dave/Files

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

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