Chris Wood cuts holdings in Reliance, HDFC Bank financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The investment in HDFC Bank Ltd will also be reduced by two percentage points, while the investments in Axis Bank Ltd and State Bank of India Ltd (SBI) will be increased by one percentage point each.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip.
While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
Mahesh Nandurkar says: "If one assumes that the same set of people will be presenting the next one, it would be very difficult to deviate from the February budget. So, I never took this budget lightly, I always looked upon it as the budget, maybe some small tweaks can happen here and there, but I think the broad pathway that would be set out in this budget would be the one that would continue post elections as well, so that is the first point. "
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.