Why Saurabh Mukherjea likes HDFC Bank
Saurabh Mukherjea, Founder at Marcellus Investment Managers, says in an interview to CNBC-TV18 that HDFC Bank’s delivery over the past three, five, 10 or even 20 years has been “in a different league to any other bank. You cannot see any other bank blazing away like this, both sides of the balance sheet, superb asset quality control, great RoEs… Nobody else compares.”
“We have to back companies that have delivered decade after decade in a stellar fashion; it’s really important to understand that,” says the market guru. “We are not having a punt in the stock market staring at stock prices, following which broker is saying what, what FIIs are doing and what DIIs are doing, we’re managing the life savings of 9,000 families.”
“Therefore, it’s not a speculative punt that we have to get. We’re here to back great franchises, which can compound our clients’ money at 20-25 percent over long periods of time, and give Indian families a good retirement. That’s our job. Our job is not to say whether ICICI Bank or Axis Bank or anybody else is better or worse. If somebody else wants to have a sort of speculative comparison, I’m happy to engage in that debate but that’s not my job in terms of managing money for Indian families,” he adds.
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