Quote on Valuation Gap between ICICI Bank & HDFC Bank post the HDFC merger from Ajit Kabi,LKP Securities
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Below the Quote on Valuation Gap between ICICI Bank & HDFC Bank post the HDFC merger from Ajit Kabi, Banking analyst at LKP Securities.
Both the large Pvt. Sector banks have performed significantly well since 2-3 years. Nevertheless, ICICI Bank has outperformed the sector with improvement in credit quality and growth across verticals.The valuation gap between these two banks have narrowed down. Post merger of HDFC and HDFC Bank, we believe, the valuation re-rerating will be delayed factoring margin squeeze. The impact on the return profile will be keenly watched in the coming period. Hence, in the short run, we don’t see the valuation gap widen between HDFCB and ICICIB.
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