Stock price when the opinion was issued
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.
This Indian bank is the best way to invest in the region’s growth and this is the largest bank. The bank has over 18,000 ATM locations. From a technology perspective, they are well positioned and are involved in blockchain. He is okay with the low yield, to allow the business to grow. Yield 0.75%. (Analysts’ price target is $14.50 )