Opinions
Darren Sissons
ICICI Bank Ltd.
IBN-N
COMMENT
Dec 05, 2013
$36.900
Stock price when the opinion was issued
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DON'T BUY
Inflation is rising in India because of oil imports, plus strong US dollar. All Indian banks have been falling. With typhoons and people moving to online banking, they’re scrambling. Not the time to be stepping into EM. They’re cheap, but they could be getting a lot cheaper. EMs are twice as risky as NA and European.
banks
COMMENT
India has been affected by covid. In India, prefers HDFC Bank over IBN, which is the second largest bank. Loan losses have been less at HDFC and they have maintained higher capital ratios. As India rounds the last corner of covid, the name should do well. Longer term demographic and macro trends are positive.
banks
BUY
The issue with banking is that it's macro-country issue. So, with India, owning a bank stock is really good. As the middle class grows there, banks will thrive, but there's volatility in Indian banks, because their economy is more unpredictable. Overall, he likes this. Either buy a bank or ETF for India.
banks
DON'T BUY
Banks are a proxy or a way to play the underlying growth of an economy. He is not very overweight on Indian banks, but because of the currency drop, there are some very good opportunities in India. Not sure the banking sector is the best one. Probably some of the industrials would be better in India.