Jefferies’ Chris Wood increases bet on Zomato, reduces investment in ONGC

After adding Zomato to his India long-only portfolio a month ago, Jefferies’ Christopher Wood has gone a step further by increasing investment in the online food delivery aggregator.

“The investment in Zomato in the India long-only portfolio will be increased by one percentage point by shaving the investment in Oil & Natural Gas Corp,” the global equity strategist said in his weekly Greed & Fear newsletter.