Slowdown in housing industry, RBI policy expectation impacting HDFC stocks: G Chokkalingam

In a chat with ET Now, G Chokkalingam, Independent Analyst, shares his views on the HDFC stocks and the impact of RBI's policy on them. Excerpt:

ET Now: What explains the weakness in HDCF twins? Would you attribute this to RBI's policy on Wednesday?

G Chokkalingam: The RBI policy expectation is impacting the stocks; apart from that, for the first time, HDFC Bank has posted lower than 30 per cent profit growth in the last quarter. Hence, there is a concern that it may not be able to maintain that kind of 30 per cent year-on-year growth in profit which it maintain for nearly 52 quarters.

Secondly, as far as HDFC is concerned, it also has to do with the kind of slowdown we are seeing in the housing industry. I am pessimistic about the housing loan segment because the economy is slowing down. There are several negative development on macro economic front and therefore, the housing loan segment will continue to suffer in relative terms.