Hold HDFC Bank, good blue chip: Phani Sekhar

Oct 28, 2013, 06.10 PM IST

Phani Sekhar, Fund Manager - PMS at Angel Broking is of the view that one can hold HDFC Bank. "One may buy it on declines with a long term view," he added.

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Hold HDFC Bank, good blue chip: Phani Sekhar

Phani Sekhar, Fund Manager - PMS at Angel Broking is of the view that one can hold HDFC Bank. "One may buy it on declines with a long term view," he added.

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Hold HDFC Bank, good blue chip: Phani Sekhar

Phani Sekhar, Fund Manager - PMS at Angel Broking is of the view that one can hold HDFC Bank. "One may buy it on declines with a long term view," he added.

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Phani Sekhar, Fund Manager - PMS at Angel Broking told CNBC-TV18, "The investor can continue to hold on HDFC Bank . Its performance will be a notch better than the general banking sector performance in India. So, to that extent, during September quarter, the credit growth declined to around 16 percent amid slowdown and if this slow down persists then the loan growth might moderate."

"With the kind of asset quality that they have displayed correspondingly I would say that it is a good performance that they have shown. The valuation premium that HDFC enjoys even on its private sector peers might continue and overall it is a good blue chip and a strong hold. On declines, if the market does give an opportunity it will be a good idea for the investor to accumulate more for long term," he added.

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