Here is why Samir Arora is bullish on HDFC Bank and Zomato
The Nifty50, has recovered 8.6 percent in the past month. Samir Arora reasons that the Indian markets have fared better than their peers and so maintaining the current pace will be a difficult ask.
Samir Arora, Founder & Fund Manager of Helios Capital, says that it will be unrealistic to expect the market to keep up its current momentum. Benchmark index, the Nifty50, has recovered 8.6 percent in the past month. Arora reasons that the Indian markets have fared better than peers and so maintaining the current pace will be a difficult ask.
When it comes to stocks, the market veteran wants to stay bullish on HDFC Bank and still believes in the beleaguered Zomato which has recovered from its lows in the past month.
Speaking in an interview with CNBC-TV18, Arora said, “This company (HDFC Bank) will grow at the rate so that 15-17 percent for many years. In total life of, whatever, 26 years, if it has underperformed for 2 years. It at least deserves our confidence for a few more quarters than years, but it will come through. It may not be the best-performing stock, but if it does better than my overall portfolio, it’s okay.”
Arora believes Zomato "is a guaranteed survivor" and adds that he was happy with the listing price of the stock too.
“Generally with time, because the price has fallen, we can see other parameters doing well in terms of people's willingness to pay higher commissions... For now, I will not make a big story out of it. But it's a good thing for the next 6-10-12 months and we will see how it goes,” he analysed.
According to him, there is no reason to buy stocks in the auto space. He also said he would also stay away from the IT sector.
Also Read: Zomato keeps preferential price unchanged in pursuit of Blinkit despite lower valuation from EY
For the entire interview, watch the accompanying video
(Edited by : Abhishek Jha)
First Published: Aug 5, 2022 2:57 PM IST
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