Brokerage firm Jefferies exits HDFC Bank

New Delhi: Major global leading brokerage Jefferies has exited its holdings in HDFC Bank and reduced its India exposure across key portfolios, following the resignation of the lender’s part-time chairman Atanu Chakraborty.

In its latest “Greed and Fear” report, Jefferies strategist Chris Woods said the firm has removed HDFC Bank from its Asia ex-Japan long-only equity portfolio, global long-only equity portfolio, and international long-only equity portfolio (ex-USA). No specific reason, however, was provided for the exit.

The brokerage has, instead, added HSBC with a 4 per cent weighting in these portfolios, replacing HDFC Bank. The move has also resulted in a marginal reduction in India’s overall weightage.