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Morgan Stanley adds more energy to India model portfolio

Source : REUTERS
Last Updated: Fri, Feb 01, 2013 09:21 hrs
The exterior of the world headquarters for Morgan Stanley & Co. Incorporated is seen in New York

Morgan Stanley raises weightage of energy stocks in its India model portfolio to 3 percent, while cutting 1 percent each from consumer staples and discretionary stocks.

"Energy appears to be on a path of structural change whereas consumer staples face cyclical headwinds from fiscal consolidation," says Morgan Stanley in a report.

The bank also adds Bank of Baroda, Crompton Greaves and Oil and Natural Gas Corp to its focus list, while removing ACC Ltd, Jubiliant Foodworks and Cox & Kings, reflecting changes in its analyst opinion.

In its mid-cap list, Morgan Stanley replaces Marico Ltd with Dabur India.


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