BUZZ-Jefferies' Wood adds SBI, JSW Energy to India long portfolio; shares up

Reuters2023-09-22

** Jefferies' head of global equity strategy Christopher Wood rejigs India long-only portfolio, adds State Bank of India

and JSW Energy with weightage of 4% each

** Shares of SBI rise as much as 2.2%, in line with broader public sector bank rally, before cutting some gains; JSWE climbs 2.7%

** Container Corp removed from portfolio to include JSWE; SBI added after Wood cuts investments in ONGC

by 2 pct points, HDFC Bank and Bajaj Finance

by one pct point each

** CCRI shares down 1.9%, HDBK down 0.5%, BJFN up 0.5%

** Investment in Sea Ltd Asia ex-Japan long-only portfolio also removed and replaced by investment in SBI, Wood says in his weekly newsletter GREED & fear

** Correction in India portfolio "would not suprise" given it has outperformed MSCI India index so far this year - Wood

(Reporting by Chris Thomas in Bengaluru)

((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters Messaging: chris.thomas.thomsonreuters.com@reuters.net))

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