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In its recent GREED & fear note Wood said, in the base case, it expects the Russia-Ukraine conflict to continue in the months leading US presidential election in November.
The NDA, experts believe, already had a big boost ahead of the 2024 national elections in Dec 2023, winning assembly elections in three key states (Rajasthan, Madhya Pradesh and Chhattisgarh)
Even as the Nifty seems on course to register decade high fiscal gains, the rally seems to have lost momentum in the recent months, with net gains well below the overall average in FY24 so far.
'If there is any reason to change my holding in Adani group stocks, the Hindenburg report on the group is not the one'
The major risk to Indian equities, according to him, is the arrival of a new Covid variant, which he says the country shares with the rest of the world.
Earlier in December 2020, he raised exposure to Indian equities twice in this and reiterated his bullish on cyclical sectors as economic indicators showed improvement
Chris Wood believes the best way of hedging long equity exposure is to remain long Eurodollar futures which are now discounting one 25 basis point (bps cut) this year
Besides Wood, Nomura, too, has revised its Nifty50 target for March 2020 to 12,545 on the back of a potential 7 per cent earnings increase in FY20/21
The government decided to cut goods and services tax (GST) on electric vehicles (EVs), while there is a proposal to hike registration fee for new vehicles besides a proposal to scrap old vehicles
Christopher Wood, global head of equity strategy at Jefferies cautions that the 'consumer financing boom' in India has peaked
The central bank has already slashed the repo rate by 75 bps since December 2018 when Shaktikanta Das took over reigns from Urjit Patel as the RBI governor
Wood, whose weekly GREED & fear report is among CLSA's most popular research offerings, has tendered his resignation, said a person familiar with the matter
CLSA MD advises Indian investors to stay invested and buy on pullbacks, and buy more if they see stocks correcting by a third from their peaks
Modi govt is showing a renewed focus to address the asset quality problem: Chris Wood, CLSA
The markets have given a thumbs-up to the outcome of the recently concluded polls. CHRISTOPHER WOOD, managing director and equity strategist at CLSA tells Puneet Wadhwa that investors should stay put in the Indian equity markets. Edited excerpts:What are the implications of the assembly poll outcome for the markets and the government's reform agenda?The outcome of the elections, especially in Uttar Pradesh (UP), is a big positive. It confirms that the Prime Minister should have a second term in government. It also highlights that the incredibly ambitious strategy of demonetisation has paid off from a political standpoint. It is a dramatic result in the context of what pundits were terming only 50:50 chance of the Modi government winning the elections. The key consequence of demonetisation will be to promote the use of financial assets in the Indian economy. The existence of the combination of electronic identification cards (Aadhar cards) and the technology available means that ...
Interview with Managing director and equity strategist, CLSA
CHRISTOPHER WOOD, managing director and equity strategist at CLSA, the Hong Kong-based brokerage and investment group, tells Puneet Wadhwa he remains overweight on emerging market equities and bonds in a global context. In the Indian context, he remains overweight on private banks, housing finance companies, real estate, automobiles and cement. Edited excerpts: