Prefer HDFC Bank to Kotak Bank: Jagannadham Thunuguntla, Centrum Broking
Both Bajaj FinanceNSE 7.98 % and Bajaj FinservNSE 5.83 % have been performing stocks. We pay a lot of attention discussing Bajaj Finance but do you think Bajaj Finserv also deserves an equal attention because Bajaj Finserv is the holding company of Bajaj Finance and the insurance business of late has done rather well?
Both of them have been enormous wealth creators. In the top end of the market, high quality names and high pedigree managements are getting high valuations and Bajaj Finance and Bajaj Finserv are good examples of that. The market cap of both the companies put together has surpassed many frontline banks as well. That shows the kind of wealth that the companies have created in the last 10 years.
Since Bajaj Finance is an operational company it gets more attention. Bajaj Finserv as a holding company understandably will always get second priority and be at a discount. But between these two, there is probably some valuation at Bajaj Finserv but I am sure the market will be keeping Bajaj Finance as the top priority.
Both are high quality banks with proven track records. HDFC Bank is the market’s favourite. In terms of valuation, both are fully priced and priced to perfection. And that may be a little bit of concern even. HDFC Bank will be rock solid and if you have to choose between the two, probably HDFC Bank will score at this moment.
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