MORGAN STANLEY ON INDIA EQUITY STRATEGY

• ADDS TO FOCUS LIST: HDFC Bank, Tata Consumer, Hyundai Motor India and Godrej Properties. • REMOVES FROM FOCUS LIST: L&T, Varun Beverages, Maruti Suzuki and Prestige Estates. • Maintains OVERWEIGHT on Financials, Consumer Discretionary and Industrials. • Consumer Discretionary and Industrials carry 300 bps overweight each in the sector portfolio.

STANLEY LIFESTYLES LTD

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