New Delhi, May 15 -- JM Financial has officially launched its India Model Portfolio, outlining a strategic overweight stance on a host of sectors including banks, real estate, telecom, infrastructure, and defence, while turning underweight on internet-based businesses, utilities, cement, pharmaceuticals, and consumer staples. The brokerage highlighted this tactical allocation as part of a broader thematic view driven by improving macro indicators, evolving RBI stance, and valuation dispersion across market caps.

According to JM Financial, the portfolio carries a +119 basis points (bps) overweight on banks, naming ICICI Bank, Axis Bank, HDFC Bank, SBI, and DCB Bank as key picks. It also adopted an overweight view on real estate, REITs and...