Zomato out of Jefferies' India portfolio; RIL, 2 other stocks get more weight

Jefferies has rejigged its India model portfolio

which the global brokerage has shifted weight from Bharti Airtel

Zomato and Maruti Suzuki into Larsen and Toubro (L&T), Reliance Industries Ltd (RIL) and Banks. 

The brokerage has removed Zomato and Bharti Airtel and has added two Indian metal stocks

Tata Steel and Hindalco to its India model portfolio, bringing the materials sector weight to Neutral from currently Nil

as it believes that the China reopening and US rate peak can drive extended positive sentiments on metals.

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