Customers line up to use a Housing Development Finance Corp. (HDFC) automated teller machine (ATM) at Johari Bazaar in Jaipur, Rajasthan, India (Photograph: Sanjit Das/Bloomberg)

Private Banks Well-Placed; Bullish On Consumer Stocks, Andrew Holland Says

Private sector lenders will do much better than their public-sector counterparts as they are “well-placed” to drive growth in the banking sector.

That’s according to Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies. “Private sector banks will continue to gain market share as state-owned banks’ fundamentals remain poor,” he told BloombergQuint in an interview.

Here is Holland’s view on other sectors

Consumer Stocks

  • Bullish on the sector as the long-term story is playing out.
  • Expect double-digit growth in topline to continue.
  • Will continue to buy high-priced consumer stocks on earnings growth expectations.

IT firms

  • Bullish on large-cap IT stocks.
  • IT well supported by the rupee depreciation.
  • Expects re-rating in Tech Mahindra over the year.

Watch the interaction below: