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HDFC
India's leading
financial company HDFC is a very attractive player in the country's real estate
growth story. With interest rates at their lowest in a decade, there is huge
demand for home ownership across India and HDFC is the best game in the
business. The company has low non-performing assets and higher growth rates
compared to the industry average. The country's demographic advantage plays a
significant role in long-term investments in HDFC.
SBI
Compared to other
private banks, SBI is trading at a lower valuation. The bank's non-performing
assets are diminishing and it is comfortably positioned to participate in the
growth opportunities ahead. The largest public bank has stakes in listed
subsidiaries such as SBI Life and SBI Card.
ICICI BANK
Given the significant
improvement in asset quality, the decline in corporate loan book provisions,
large and secured personal loan book and adequate/excess Covid-related
provisioning will help ICICI Bank to get back to normal faster. The leading
private bank also holds interests in other publicly traded group companies such
as ICICI Lombard General Insurance, ICICI Pru Life and ICICI Securities.
TATA CONSUMER
The FMCG company represents
a very good investment and trading opportunity. With a focus on strong brands
and the support of the Tata Group, Tata Consumer is poised for good medium-term
growth. In the short and medium term, we expect further growth in the consumer
business.
HCL
Tech
HCL Tech reported
reasonable first-quarter results and has forecast that the growth momentum is
likely to continue in the coming quarters. As the pressure on the margin front
eases somewhat, next quarter's results should show a slow return of margins. Valuations
are very attractive with an exceptional dividend yield.
HDFC
BANK
HDFC Bank is the
largest private sector bank in India with a loan book of Rs 13.68 lakh crore in
Q4FY2022 and a deposit base of Rs 15.6 lakh crore. The bank has a very
diversified book, with about 57 percent of the banking book being wholesale
business, while the remaining 44 percent of the loan book is retail banking.
The bank reported 10.2/5.3 percent growth in NII/PPOP for the quarter on 20.8
percent year-on-year loan growth. Restructured advances accounted for 1.14
percent of advances at the end of the quarter.
