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    Prefer largecap banks, like Cholamandalam in NBFCs: HDFC Securities' Krishnan ASV

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    Prefer largecap banks, like Cholamandalam in NBFCs: HDFC Securities' Krishnan ASV

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    HDFC Securities prefers largecap banks over midcap, smallcap banks, Krishnan ASV, lead analyst-banking, financial services and insurance (BFSI), told CNBC-TV18.

    HDFC Securities prefers largecap banks over midcap, smallcap banks, Krishnan ASV, lead analyst-banking, financial services and insurance (BFSI), told CNBC-TV18.
    In an interview to CNBC-TV18, Krishnan said that largecap banks will perform well.
    According to him, despite fintech tie-ups, a lot of business will go to largecap banks. He said, “It (Federal Bank) has been a buy forever for us, but right now we are in an environment where even with fintech partnerships a lot of the new business will go towards the larger banks; among midsize banks, Federal and City Union Bank are two banks that we like a lot.”
    His firm remains cautious on RBL Bank and IndusInd Bank as their portfolios have not stabilised entirely, but CreditAccess Grameen remains the top pick in microfinance institutions (MFI) and Cholamandalam Investment and Finance Company in the non-banking financial company (NBFC).
    He further said that Axis Bank has a lot of catch up to do with ICICI Bank.
    For more details, watch the video
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