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Annual reports - Reading, Understanding and Discussing.
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MR TED
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Quote MR TED Replybullet Posted: 14/May/2011 at 10:52pm
Originally posted by SuperEquity

Voltas is in Cooling Segment + Engineering.


HDFC, YES BANK. VOLTAS, THERMAX are Good Pick for long term at Current Market Price.

Page Industry, HDFC Bank, TITAN are Over-Valued at CMP



Hello, I understand that Voltas is in eng + cooling. My query wan the reason why it is in TED 11 is because of cooling or eng or both (leader in any growing subsector?)

Anyways, I fail to understand why you say that HDFC bank is overvalued but HDFC is not although current year valuation of HDFC is greater than HDFC bank as per ET data. Are you looking at future valuations on expected growth?


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Quote SuperEquity Replybullet Posted: 14/May/2011 at 11:03pm
What basantji is updating QoQ to those who bought 2-5 years back. So that overall portfolio will continue to grow. Not Ideal for Newbies due to few reasons but good for Senior Members. Thats why all Newbies keep asking can i buy and senior member keep talking current happening Smile

Although Things has changed in last 1/2 years.

TTK prestige is way ahead than Hawkins.

IndusInd bank is ahead than Yes. But Yes bank is more popular and everyone has yes bank.

HDFC bank is Good, But not cheap as per ICICI and AXIS. so ICIC and AXIS are better than HDFC (for Fresh entry) . HDFC bank is good those who holding since long time as downside risk will be protected
.

HDFC is always good due to leadership quality.

Titan and Page also Great stock but expensive (difference between time. PE re-rating already happened in both long back)


Thermax, Voltamp, Voltas, Bluestar not gone anywhere.

Zydus no Idea, Low volume. Better picks today than Zydus, Those who have great gain. can hold
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Quote SuperEquity Replybullet Posted: 14/May/2011 at 11:11pm
Anyways, I fail to understand why you say that HDFC bank is overvalued but HDFC is not although current year valuation of HDFC is greater than HDFC bank as per ET data. Are you looking at future valuations on expected growth?

===========================================

HDFC is Giant and market leader. They are Good marketers, Great Set-up, Huge Market, Well places. It will be market leader for next 5 years too. It will continue to grow 20%-25% for next few years.


HDFC bank did everything what was possible. There are 10 Branches of HDFC Bank in area where i live. Axis bank has 3, ICICI has 4, Yes bank 1, IndusInd 1.

HDFC Bank @ 27 PE and Axis Bank @ 15 PE. Big Valuation difference. Many people say HDFC bank growing 25% for Decade, Even Axis is growing on same way. I really doubt HDFC bank will continue to grow in same pace. See Infosys, it was trading @ Fully priced valuation. 1 Average Quarter result and stock down 20% and everyone saying TCS and HCL tech better.  So, Its my personal View, one should Buy stock which has some potential to see average earning also. HDFC Bank will grow till results are very good. too much expectation on this stock thats why i feel little risky. Obviously for those who want to enter now not those who sitting in 50%-250% Gain ;-)


Edited by SuperEquity - 14/May/2011 at 11:13pm
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Quote MR TED Replybullet Posted: 14/May/2011 at 12:08pm
If you get both HDFC and HDFC bank at similar valuations, which one would you chose for long term? Also, is HDFC life a part of HDFC or HDFC bank?
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Quote SuperEquity Replybullet Posted: 14/May/2011 at 12:44pm
If you get both HDFC and HDFC bank at similar valuations, which one would you chose for long term?
=====================================================

HDFC on any Day.


Also, is HDFC life a part of HDFC or HDFC bank?
==================================
HDFC Life may be with HDFC Bank. (i am not sure, but even doesn't make any difference).

ICICI Lombard + ICICI pru Life is more than 5 times bigger than HDFC life. and both are unlocked value with ICICI Bank. Indeed, Both ICICI lombard + life are market leaders.

HDFC Securities is not even 20% of ICICI Direct (another market leader)

ICICI venture(mkt leader) is bigger than HDFC one. Even ICICI Bank is bigger than HDFC Bank and available at cheap valuation compare with HDFC bank.


I have an saving account with HDFC bank for last 4 years, but it doesn't seem anything special. Recently, I was planning to take a home loan of small amount, I contacted HDFC (after that they called me 20 times until i make up mind to take). HDFC is very professional wheras HDFC Bank is just increasing its number. Quality wise not the same.

Biggest problem with HDFC Bank is they believe in increasing Bank branches. They increase no. of branches(small one) every time which doesn't have everything. Also, there is always Rush due to lack of Employes. ICICI and AXIS always opens a large Branch which helps for customer.


I am not saying HDFC BANK is not Good. Indeed, Its a very Good Bank, What i don't understand why HDFC Bank is trading in 30% Premium compare with ICICI and AXIS. If trading in 30% premium with Yes, IndusInd, ING vysas bank. I can understand. I didn't found any reason for that. Just HDFC bank has larger track record. That's it.


Even if HDFC BANK, ICICI BANK, AXIS BANK will grow 25% CAGR, ICICI and AXIS will give better return in 5 years due to PE-Rating vis-a-vis HDFC BANK.
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Quote SuperEquity Replybullet Posted: 14/May/2011 at 12:54pm
I am no expert whose VIEW can be taken as correct way. I can be wrong also. If anyone has different view, kindly post. I will be more happy if something opposite comes of mine, because then only i will improve my little knowledge ;-)
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Quote MR TED Replybullet Posted: 14/May/2011 at 12:59pm
Originally posted by SuperEquity

I am not saying HDFC BANK is not Good. Indeed, Its a very Good Bank, What i don't understand why HDFC Bank is trading in 30% Premium compare with ICICI and AXIS. If trading in 30% premium with Yes, IndusInd, ING vysas bank. I can understand. I didn't found any reason for that.


Basantji or anyone can you answer this question?
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Quote MR TED Replybullet Posted: 14/May/2011 at 1:05am
The Asset quality of HDFC Bank and CASA ratio is much better compared to other private players. 2 years back ICICI was in trouble wrt Asset Quality. Its hard work of new CEO that it has improved. In Banking, if NPA increase slightly, it has an exponential effect so Management quality and past history of Asset quality is of prime importance.

Thats why I feel premium for HDFC bank..Any other views or anywhere I may be wrong?
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