Moneycontrol
May 08, 2017 08:18 AM IST | Source: CNBC-TV18

Remove Tata Power from portfolio; increases weight on NTPC: Sanjeev Prasad

We increase weight on GAIL and NTPC and remove Tata Power from our recommended large cap model portfolio. We also remove Axis Bank from the portfolio and allocate the same to HDFC and HDFC Bank, says Sanjeev Prasad of Kotak Institutional Equities.

 
 
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Sanjeev Prasad of Kotak Institutional Equities said, "Q4FY17 results suggest stabilisation in underlying parameters in certain sectors but risks of earnings downgrades to our FY18 estimates have resurfaced in others from domestic and global factors. The street has already moved to FY19 earnings but FY18 earnings are looking rather shaky."

"We increase weight on GAIL and NTPC and remove Tata Power from our recommended large cap model portfolio. We also remove Axis Bank from the portfolio and allocate the same to HDFC and HDFC Bank."

"We struggle with the valuations of other banks and NBFCs in the context of their business models and are happy just parking some money into stocks that will hold up better in the event of a market correction," he added.
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