Accumulate HDFC, says Phani Sekhar

Phani Sekhar of Angel Broking told CNBC-TV18, "Housing Development Finance Corporation (HDFC) showed good earnings given the larger macro context because for a large housing finance company to deliver even a 14 percent NII growth is quite commendable. This is considering the fact that interest rates have not really been friendly. From a longer term perspective these levels are fair but purely from a tactical point of view investors can look at accumulating the stock starting here over a period of time. I am sure that they will also find lower levels."

"There are no asset quality concerns on this company and housing finance obviously is a much stickier business than any other Non-bank financial companies (NBFCs) line of business. If you add a good management with a strong track record and valuations that are not at all demanding, if you actually add all the subsidiary value also I think you have a good blue-chip on hand. That actually explains why a large number of foreign investors especially love this stock. So from a long term perspective it is a good idea to start accumulating at these levels."