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    HomeNewsBusinessStocksAmbit awaits lower valuations; adds Dabur, Idea; removes ITC, Bharti Infratel

    Ambit awaits lower valuations; adds Dabur, Idea; removes ITC, Bharti Infratel

    Ambit added Dabur, Idea Cellular, Sundram Fasteners and remove ITC, Bharti Infratel and Endurance Technologies.

    July 14, 2017 / 11:23 IST
       
       
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      Nitin Bhasin of Ambit said the research house awaited lower valuations and raised allocation towards cash to 21.7 percent.

      The research house reduced allocation towards IT and consumer durables by removing Tech Mahindra and Supreme Industries while maintained underweight on financials.

      "We bring in ICICI Bank instead of Axis Bank given the former's relatively inexpensive valuations and higher exposure to financialisation," he said.

      Among other changes, Ambit added Dabur, Idea Cellular, Sundram Fasteners and remove ITC, Bharti Infratel and Endurance Technologies, he said, adding the research house remained overweight on pharma and chemicals.

      first published: Jul 14, 2017 11:23 am

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