Kotak Adds ITC, Mankind and Goa Agro to Model Portfolios

Kotak Institutional Equities changed some of the stocks in its model portfolios.

It added ITC to its list of large companies.

It also slightly reduced the amounts assigned to Apollo Hospitals, Eternal and ICICI Bank.

Three companies joined its mid-cap list: Goa Agro, Mankind Pharma and Narayana Hrudayalaya.

Three others—CRISIL, DCB Bank and Eureka Forbes—were removed.

Kotak believes some large companies are priced attractively compared with their expected earnings.

It also thinks mid- and small-cap shares have already risen strongly.

The brokerage warned that even a cheap-looking stock may take time to perform.