Jefferies Model Portfolio Changes
Add Manappuram as preferred play on accelerating monetisation of household gold through formal lending channels, funded by modest trims across select lenders
Also replace Jindal Stainless with Hind. Zinc to gain exposure to silver theme
& Meesho as a play on mass discretionary consumption
Add Navin Fluorine where see growth levers across CDMO, cooling products, spec. chem. & adv. materials driving 23% EPS CAGR during FY26-29E, while removing Ambuja.
Other Gold beneficiaries on potential price surge include Jewellers (Titan, Kalyan), MCX, lenders (IIFL Finance, Muthoot).
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