INSUBCONTINENT EXCLUSIVE:
share price on Monday and should be seen as further confirmation that the consumer financing boom in India in recent years has peaked, for
Wood in his weekly newsletter named 'Greed - Fear'.
Loan growth of HDFC Bank slowed to 17.1% at the end of June quarter versus 24.5% at the
end of the March quarter.
However, despite the cyclical risks, Wood has retained HDFC Bank in his Asia ex-Japan longonly portfolio, as it is
Insurance Company in the portfolio, saying that it makes sense to reduce the beta on some other consumer-related exposure.
The Asia ex-Japan
weightage each for HDFC Bank, ICICI Bank and ICICI Bank.
S
BI Life Insurance has a 4% weightage, while Bajaj Finance represents the Indian
non-banking finance space in the portfolio with a 5% weightage
Housing Development Finance Corporation and Gruh Finance are also part of the portfolio with a 5% weightage each.
Wood is playing the India
internet theme in his portfolio with a 5% weightage
Dalmia Bharat and Godrej Properties are also part of this portfolio.
Christopher Wood has a bullish view on Indian markets
In his first media interview after joining Jefferies last month, Wood has told ET that India is one of his top bets within the emerging
markets as the country is less exposed to the trade war issues compared to other markets
The strategist also said that the re-election of the coalition led by Prime Minister Narendra Modi is constructive for Indian markets.
