HDFC Bank – CASA Focus + Super Profits + Premium Customers & Valuations

HDFC Bank (HDFCB) has matched its historical run-rate (Y-o-Y) of 30% plus. Net profit grew 33% yoy driven by strong loan growth of 30% yoy and 10% qoq, stable sequential NIMs despite a
rapid rise in deposit rates, and robust asset quality.

NII grew by a moderate 18.6% YoY to Rs28.5bn led by a modest but healthy credit growth (20% YoY and 9.7% QoQ) while NIM (more…)

TCS – Bellwether of Indian IT Industry Flies High

TCS posted revenue of US$2,412mn, up 7.5% qoq, majorly led by volume growth. 7.5%QQ up-tick in volumes was the key driver of TCS’ 7.5%QQ growth in $-revenues. The key surprise was the strong growth in telecom vertical (+14.3%QQ) c.f. declines seen at Infosys and also the fact that none of TCS’ clients were postponing outsourcing decisions makes (more…)

HDFC Results – The Gold of Indian Equity – Buy HDFC, Not Gold

HDFC announced its quarterly results and it is a script written by Mr. deepak Parekh a deade ago and it continues to be played in the same style. 20% Growth rate 🙂 I have been observing this stock for the past 15 years when I first bought it and despite Gloom or Boom, it maintains its own growth trajectory delivering consistent returns like Gold. [HDFC Outperforms Returns Delivered by the Yellow Metal] Low NPA, Strong Management, High Dividends, etc makes it enjoy higher discounting than the rest in the crowd.

HDFC reported 1Q12 net profit of Rs8.45bn up 22% y/y inline. Adjusted loan book growth (sale of loans) was robust at ~25% y/y (more…)

Infosys Disappointing Results – ReOrganisation + Delays A Drag

Infosys Technologies, once upon a time the bellwether of the Global Outsourcing Industry, in our view has failed to move past the point of inflection and is Done company [Company which can’t grow QoQ, is Done and Matured enough with Fat & Contended Management] for Investors looking for a Stock that can beat the benchmark. [Evident from the Sell-Off]

1QFY12 turned out to be a weak quarter as Infosys dealt with multiple issues on reorganization, high attrition levels and operational (more…)