{"id":289791,"date":"2026-10-06T13:24:15","date_gmt":"2026-10-06T07:54:15","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=289791"},"modified":"2026-10-06T13:24:15","modified_gmt":"2026-10-06T07:54:15","slug":"jefferies-model-portfolio-reliance-kotak-welspun-corp-large-caps-bullish","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/jefferies-model-portfolio-reliance-kotak-welspun-corp-large-caps-bullish\/","title":{"rendered":"Jefferies Model Portfolio: Why the Brokerage Added Kotak Mahindra Bank and Welspun Corp, Raised Reliance and Turned Bullish on Large-Caps Over Mid-Caps, and What a Shallower Rate Hike Cycle Means"},"content":{"rendered":"

Jefferies model portfolio (6 Oct): adds Kotak, Welspun; raises Reliance; trims NBFCs, realty, Eicher. Large-cap risk-reward better than mid-caps.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

Jefferies model portfolio changes add Kotak Mahindra Bank and Welspun Corp, raise the weight on Reliance Industries and trim rate-sensitive sectors such as NBFCs, real estate and consumer discretionary including Eicher Motors, because the brokerage says risk-reward is becoming more favourable for large-caps on better relative valuations than mid-caps while the earnings growth gap narrows over FY26 to FY28. Kotak is added on the removal of its leadership overhang and a possible acceleration from about 15% growth, Welspun for a multi-year oil and gas infrastructure upcycle in the US and Middle East, and Reliance for attractive valuations and upgrade potential from higher refining margins. Jefferies expects a shallower rate hike cycle than 2022 because real rates are still positive, and calls large-caps with below-average valuations possible hiding places. Kotak was among the top Nifty gainers on 6 October, so some of the news is already in the price.<\/p>\n<\/p><\/div>\n

Jefferies model portfolio updates matter because the brokerage is a closely watched foreign voice on Indian equities, and this note arrives just before the RBI policy on 7 October. It shifts weight toward large-caps and away from rate-sensitive pockets.<\/p>\n

If you are reviewing your holdings, this article covers what Jefferies India changed in the Jefferies model portfolio, including the additions of Kotak Mahindra Bank and Welspun Corp, the higher weight on Reliance Industries on GRMs and the trims in NBFCs and Eicher Motors, the case for large-cap stocks and risk-reward against mid-caps, the view on real rates, the oil and gas infrastructure logic, how the market reacted, and the risks and limits of following a model portfolio.<\/p>\n

Click Here – Get Free Investment Predictions<\/a><\/strong><\/p>\n

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