Jefferies updates India portfolio, adding Hitachi Energy

Jefferies' Christopher Wood retained a constructive view on India's structural growth in his September 24 report, highlighting manufacturing, renewable energy, and infrastructure.

Wood revised his 22-stock India portfolio by removing ABB India and adding Hitachi Energy India with a 5% allocation.

The Jefferies report noted that India's annualised nominal gross fixed capital formation-to-GDP ratio rose to 32.4% in the four quarters to June from 31.4% previously.