Jefferies is making a bold move by advising clients to invest in the struggling Indian consumer sector, identifying Varun Beverages, Hindustan Unilever, and Asian Paints as promising contrarian bets.

When we buy a stock, we are buying a piece of a business. And more than the absolute price of the stock, it is the business which needs to be looked at. Now, a business is a sum of several things, all ...