Chris Wood rejigs Indian stock exposure; SBI Life replaces Arvind Fashions

The slowdown in the Indian economy and its impact on consumption-related sectors has made global investors, too, sit up and take notice. In his recent weekly note to investors GREED & fear, Christopher Wood, global head of equity strategy at Jefferies, cautions that the ‘consumer financing boom’ in India has peaked. On the other hand, the boom in insurance stocks thus far in calendar year 2019 (CY19) has made him alter allocation to Indian stocks, with the addition of SBI Life in his Asia ex-Japan long-only portfolio.

“There was a slowdown in loan growth reported by India’s HDFC Bank. This