HDFC AMC's Prashant Jain denies reports of his exit from the company
Prashant Jain, executive director and CIO of HDFC AMC, denied reports and speculation about his exit from the company.
September 29, 2020 / 10:12 AM IST
Prashant Jain, CIO and executive director at HDFC AMC, denied reports and speculation about his exit from the company.
"I am not going anywhere," Jain told CNBC-TV18.
Jain is of the view that value has underperformed growth in the market.
"Need to be cognisant of current interest rates when looking this market. Believe dividend yields by some companies will continue to grow over bond yields" he told the news channel.
"It won't be difficult for equities to beat the low cost of capital in return," Jain added.
Jain also spoke about State Bank of India (SBI), adding that the price performance of state-run lenders has been disappointing.
"Don't think SBI as a franchise is at risk, though the price performance has disappointed," he said.
Jain also shared his thoughts on fast moving consumer goods (FMCG) companies and Bharti Airtel.
Topline growth for FMCG companies has not been good, according to Jain.
"Bharti Airtel underperforming as it was a consensus buy," he told CNBC-TV18.