Rapid recovery to continue? | Prashant Jain of HDFC AMC to ET NOW
Believe lower interest rates are here to stay for some more time. Expect investment demand to pick up going ahead. Not too surprised by the rally in the markets. PSUs are buying back stocks at attractive yields. The value will perform; most investors have given up hope on value investing. Believe pain incorporate asset quality us for banks.
Believe retail asset quality pain may continue but maybe less. Adoption of digital has been rapid by banks. Digitally focused banks are likely to gain more market share. Need to value banks on the price to book value & sustainable ROEs. Believe there is considerable value in some banks. IT, Pharma, banks without asset quality pain will continue to earnings growth.
Watch the full interview with Prashant Jain, Executive Director & Chief Investment Officer, HDFC Asset Management Company Limited on The Market.
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