L&T, RIL, AU Small Finance Bank: Chris Wood rejigs India equity portfolio

This, he wrote in his weekly note, GREED & fear, will be paid for by reducing the existing investments in Bajaj Finance, Oil & Natural Gas Corporation (ONGC), and Reliance Industries (RIL)

Christopher Wood, global head of equity strategy at Jefferies has rejigged his India long-only portfolio, and increased the investments in JSW Energy, AU Small Finance Bank and Larsen & Toubro (L&T) by one percentage point each.

This, he wrote in his weekly note to investors, GREED & fear, will be paid for by reducing the existing investments in Bajaj Finance, Oil & Natural Gas Corporation (ONGC), and Reliance Industries (RIL) by one percentage point each.

In his Asia ex-Japan and India long-only portfolio, too, Wood has replaced Bajaj Finance with a 4 per cent