Chris Wood of Jefferies removes ICICI Bank, DLF exposure in portfolios, adds these stocks

Chris Wood of Jefferies has made tweaks to his GREED & fear long-only equity portfolios, where an investment in ICICI Bank has been removed across the board.In his latest note shared on Wednesday, February 4, Wood mentioned that the investment in ICICI Bank in the international long-only portfolio will be removed and instead, an investment will be made in Samsung Life Insurance in response.

ICICI Bank will also be removed from GREED & fear’s Asia ex-Japan long-only equity portfolio. Here, this investment will be replaced by making an investment in Eternal, the parent company of food delivery aggregator Zomato and quick commerce operator Blinkit.
The other Indian stocks whose weightage will be trimmed in the Asia ex-Japan long-only equity portfolio are DLF and GMR Airports. The investment in DLF will be completely removed, while the one in GMR Airports will be trimmed to accommodate a new investment in Zijin Mining in China.Within global stocks, Wood has written about removing the entire investment made in MakeMyTrip in both the global and international long-only portfolios and replaced by an investment made in Anglo American, a mining company.

Shares of ICICI Bank are recovering from their recent sell-off and are back near their 52-week high of ₹1,500. Eternal’s shares have declined over 30% from their recent record high which is at ₹368. Shares of DLF are down 15% over the last 12 months.