Kotak adds 5 new midcap stocks which fell up to 16% in one month to its model portfolio. Take a look - Portfolio rejig
· economictimes.indiatimes.com
Kotak Institutional Equities in its latest Strategy report announced some changes to its model portfolio. It said the favorable price-value gap in more stocks after the sharp correction in recent weeks will help dispel the ‘gloomy’ mood in the market. The brokerage replaced Bajaj Finserv with Bajaj Finance in the large-cap space as the latter is a direct play, although the former trades at a hefty discount. It also moved Mankind Pharma from the mid-cap to large-cap space, and trimmed positions in HDFC Life, ICICI Bank and Infosys. It increased weight on Reliance Industries, while trimming positions in Axis Bank and State Bank of India (SBI) by 50 basis points each. Here are the 5 mid-cap stocks it added to its model portfolio.Also read | D-Street in gloomy mood, but Kotak sees 3 triggers for rebounds and adds 5 midcap stocks to portfolio Portfolio rejig
The stock trades at 23x one-year forward P/E and offers 29% potential upside to Kotak’s target price of Rs 735. The stock has fallen 6% in the past one month ...