Friday, 21 November 2008

HDFC, Axis Bank continue to remain expensive: Tandon

Anand Tandon, Director Equities, Brics Securities is of the view that HDFC and Axis Bank are continues to remain expensive.

Tandon told CNBC-TV18, "The frontline banking continues to remain expensive. I think some of the smaller banks are not so but with the exception of ICICI Bank, which obviously is now trading well below any fundamental value but it’s therefore factoring in a lot of potential losses. HDFC and Axis Bank, I think continue to remain expensive. I think especially HDFC more than HDFC Bank; the logic for it to coming down is still quite strong."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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