New Delhi, Aug. 31 -- Bernstein has reshuffled its India model portfolio, adding Adani Ports, Eternal and Paytm while removing Avenue Supermarts, or DMart.

The portfolio changes come alongside Bernstein's assessment of what it calls India's "distortion economy"-an environment where policy interventions, government transfers, subsidies, liquidity and other structural factors are increasingly influencing economic growth and corporate performance.

According to Bernstein, these distortions can create significant investment opportunities, although investors should be careful about treating policy-supported growth as a permanent improvement in underlying fundamentals.

"Distortions can persist far longer than investors expect. The key is not ...