“We have been slightly more constructive towards the PSU banks. Banks have done very well performance wise and in terms of fundamentals, but the stocks have not participated. It is the second and third tier PSU banks which have participated. We think there is still merit, particularly in some of the larger second tier banks.”
“What I am trying to caution investors against is that the themes are good but what they are paying today should be more than paid back by future profitability. That is what the focus of investors should be. In so many companies, there was this concept of buy at any price. I think those stocks have not performed.”
“At these levels, you have to be an investor only if you believe that India will continue to grow from a three, five years perspective. Playing the market from a three, six-month perspective might not be a great experience. You know, renewed volatility is going to be the order of the day.”