19 Sep 2025 | 5 Mins Read
Chris Wood sells Reliance shares to buy Adani stock
Flipitmoney
Chris Wood of Jefferies sold shares of Reliance Industries, which had rallied 15% in 2025, to buy Ambuja Cement, owned by the Adani Group, in his India long-only portfolio. He also sold Axis Bank and reduced holdings in ICICI Bank, REC, and JSW Energy. Ambuja Cement, Le Travenues Technology, and Lemon Tree Hotels will have a 4% weighting in his portfolio, to be funded by portfolio tweaks.