Yes Securities has rejigged its portfolio for the month of November amidst robust liquidity from the foreign institutional investors (FIIs). Indian equity benchmark indices rallied about 10 percent this month to record-high levels on the back of vaccine developments, economic recovery and healthy corporate earnings.
Yes Securities included one stock and excluded one from its portfolio. The domestic brokerage included SBI Life Insurance and excluded HDFC.
According to the brokerage report, SBI Life has significant potential to extract business out of the bancassurance channel. The company is also making inroads in the online channel. In terms of cost, it's ranked the best amongst peers in the industry.
"COVID has driven demand for both protection and savings. We expect the momentum to sustain in the near term," the report added further.
Meanwhile, in case of HDFC, it said that the sole reason to exclude the stock from the portfolio is to book profits.
The brokerage further increased weights on four stocks- Honeywell Automation (by 4.3 percent to 7 percent), Page Industries (by 2.2 percent to 7 percent), CCL (by 2.1 percent to 7 percent) and Nippon Life India Asset Management (by 1.4 percent to 5 percent).
However, it reduced its weights in four stocks- HDFC Bank (by 3.5 percent to 12 percent), Kotak Bank (by 3.2 percent to 8 percent), Alembic Pharma (by 2.3 percent to 5 percent) and Repco Home Finance (by 1.7 percent to 4.9 percent).
Yes Securities model portfolio includes stocks like RIL, HDFC Bank, Jubilant FoodWorks, Kotak Bank, Alembic Pharma, Dabur, Repco Home Finance, Page Industries, and TCS, among others.
