Market strategy: Kotak Equities adds TCS, SBI Life Insurance in model portfolio, raises weight on L&T
Awaiting price reaction for this filing.
Kotak Institutional Equities has added TCS and SBI Life Insurance to its model portfolio, each with a weight of 150 basis points. The brokerage sees around 35 percent upside in SBI Life to a 12-month fair value of Rs 2,500 and about 18 percent upside in TCS to a target of Rs 2,450, while raising its weight on Larsen & Toubro by 100 bps to 400 bps. It trimmed DLF to 30 bps and GMR Airports to 70 bps, removed Mankind Pharma, and shifted ICICI Prudential Life to its mid-cap portfolio, adding CRISIL and DCB Bank there. Kotak flagged weak monsoons and US-Iran tensions as key risks but said Nifty 50 valuations remain reasonable given cheap BFSI and IT valuations offsetting rich consumption and investment stocks.