Chris Wood of Jefferies adds Zomato to his Portfolio
Jefferies Global Investment Bank seems indecisive regarding Zomato. Last week, Christopher Wood, an employee of Jefferies, added Zomato to his two long portfolios. This decision follows the removal of Zomato from Jefferies’ Model India portfolio a few months ago. Surprisingly, within a few months, they once again decided to remove it from their portfolios.
![](https://hindiskyon.com/wp-content/uploads/2023/06/Chris-Wood-of-Jefferies-adds-Zomato-to-his-Portfolio.webp)
Foreign investors return to the Indian market
Chris Wood from Jefferies has made an addition to his portfolios by including Zomato. He has given Zomato a weightage of 4% in his India Long portfolio, replacing HDFC Life. Furthermore, the weightage of Rural Electrification Corporation (REC) will also see an increase in Wood’s India Long portfolio, while there will be a decrease in the weightage of ONGC. The quarterly results of ONGC are expected to be announced today (May 26). Zomato will also be included in Chris Wood’s global long-only portfolio, with a weightage of 4%.
In his report titled “Greed and Fear,” Chris Wood mentions that momentum-driven buyers have re-entered the Indian market after withdrawing from overseas acquisitions. These buyers have received shares worth $7 billion since March. Wood highlights that one of the reasons for this trend is India’s reduced weightage in the MSCI Index, despite its significant economic size. According to Wood, long-only investors in Asia, excluding Japan, have typically displayed a prevalence of growth and value investing, averaging around 40% in recent years.
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