Deven Choksey backs HDFC Bank and large lenders for growth
In short
Deven Choksey said he is still positive on large banks and NBFCs because credit growth is improving, valuations look attractive and foreign inflows are steady.
He prefers HDFC Bank over ICICI Bank, and also sees chances in large pharma and IT companies.
What the reporting says
Deven Choksey of DRChoksey Finserv said he remains positive on large banks and NBFCs, citing improving credit growth, attractive valuations and steady foreign inflows. He said he prefers HDFC Bank over ICICI Bank and also sees opportunities in large pharma and IT firms. The comments point to a bullish view on large-cap financials and selected sectors.
Why it matters
The note reflects a market call from Deven Choksey, who favors large lenders, especially HDFC Bank, over ICICI Bank. He also highlighted NBFCs, large pharma and IT firms, while noting improving credit growth, attractive valuations and steady foreign inflows. This is relevant for investors weighing sector rotation and large-cap stock preferences in Indian markets.